Capital Fund Management S.A. Has $4.28 Million Stake in Novanta Inc. $NOVT

Capital Fund Management S.A. boosted its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 158.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,200 shares of the technology company’s stock after buying an additional 20,351 shares during the period. Capital Fund Management S.A. owned about 0.09% of Novanta worth $4,280,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Conestoga Capital Advisors LLC boosted its position in shares of Novanta by 15.7% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,579,626 shares of the technology company’s stock valued at $203,661,000 after acquiring an additional 214,374 shares in the last quarter. Geneva Capital Management LLC boosted its holdings in Novanta by 5.9% during the second quarter. Geneva Capital Management LLC now owns 988,969 shares of the technology company’s stock valued at $127,508,000 after purchasing an additional 54,934 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of Novanta by 5.5% in the 2nd quarter. William Blair Investment Management LLC now owns 979,893 shares of the technology company’s stock valued at $126,338,000 after purchasing an additional 51,005 shares during the period. Geode Capital Management LLC raised its holdings in shares of Novanta by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 919,666 shares of the technology company’s stock worth $118,585,000 after buying an additional 12,789 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Novanta by 18.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 895,119 shares of the technology company’s stock worth $117,099,000 after buying an additional 141,112 shares during the period. Institutional investors own 98.35% of the company’s stock.

Novanta Stock Down 1.9%

Shares of NASDAQ NOVT opened at $111.48 on Tuesday. Novanta Inc. has a 12-month low of $98.27 and a 12-month high of $173.16. The firm’s 50-day simple moving average is $110.35 and its 200 day simple moving average is $118.10. The company has a quick ratio of 1.62, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 65.58 and a beta of 1.54.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings data on Monday, November 3rd. The technology company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.06. Novanta had a net margin of 6.41% and a return on equity of 14.70%. The firm had revenue of $247.84 million during the quarter, compared to analysts’ expectations of $245.95 million. During the same quarter last year, the company posted $0.85 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. Novanta has set its FY 2025 guidance at 3.240-3.300 EPS. Q4 2025 guidance at 0.870-0.930 EPS. On average, research analysts expect that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

Novanta declared that its board has initiated a stock repurchase program on Thursday, September 18th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 4.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have weighed in on NOVT shares. Wall Street Zen cut Novanta from a “buy” rating to a “hold” rating in a research report on Monday, August 11th. Weiss Ratings lowered shares of Novanta from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Zacks Research raised shares of Novanta from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Finally, Robert W. Baird decreased their price objective on shares of Novanta from $139.00 to $133.00 and set a “neutral” rating on the stock in a research note on Monday, August 11th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $133.00.

Novanta Profile

Novanta, Inc engages in the provision of core technology solutions to healthcare and advanced industrial original equipment manufacturers. It operates through the following segments: Photonics, Vision, and Precision Motion. The Photonics segment designs, manufactures, and markets photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products.