Moody Aldrich Partners LLC Has $2.65 Million Stock Position in Novanta Inc. $NOVT

Moody Aldrich Partners LLC cut its stake in Novanta Inc. (NASDAQ:NOVT) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,528 shares of the technology company’s stock after selling 316 shares during the period. Moody Aldrich Partners LLC’s holdings in Novanta were worth $2,647,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOVT. State of Michigan Retirement System boosted its stake in shares of Novanta by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 8,600 shares of the technology company’s stock valued at $1,100,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in Novanta by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 10,100 shares of the technology company’s stock valued at $1,291,000 after buying an additional 100 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Novanta by 4.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,376 shares of the technology company’s stock valued at $304,000 after acquiring an additional 103 shares during the last quarter. Harbor Investment Advisory LLC boosted its position in Novanta by 29.0% during the second quarter. Harbor Investment Advisory LLC now owns 671 shares of the technology company’s stock valued at $87,000 after acquiring an additional 151 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in Novanta by 80.0% during the 1st quarter. Signaturefd LLC now owns 414 shares of the technology company’s stock worth $53,000 after acquiring an additional 184 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

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

Novanta Stock Performance

Shares of Novanta stock opened at $125.22 on Friday. Novanta Inc. has a 52 week low of $98.76 and a 52 week high of $184.11. 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 business has a 50 day moving average price of $112.29 and a 200-day moving average price of $119.40. The company has a market cap of $4.50 billion, a PE ratio of 73.66 and a beta of 1.49.

Novanta (NASDAQ:NOVT) last announced its earnings results on Tuesday, August 5th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. Novanta had a return on equity of 14.70% and a net margin of 6.41%.The company had revenue of $241.05 million for the quarter, compared to analysts’ expectations of $237.97 million. During the same quarter in the previous year, the firm earned $0.73 earnings per share. Novanta’s quarterly revenue was up 2.2% on a year-over-year basis. Novanta has set its FY 2025 guidance at 3.220-3.360 EPS. Q3 2025 guidance at 0.780-0.850 EPS. Equities analysts anticipate that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

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

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.