Novanta Inc. (NASDAQ:NOVT – Get Free Report) passed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $147.16 and traded as low as $140.00. Novanta shares last traded at $143.58, with a volume of 246,749 shares trading hands.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on NOVT shares. Wall Street Zen raised Novanta from a “hold” rating to a “buy” rating in a research note on Sunday, August 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Novanta in a research note on Wednesday, July 15th. Zacks Research upgraded Novanta from a “hold” rating to a “strong-buy” rating in a report on Friday, August 14th. Finally, Robert W. Baird set a $194.00 target price on Novanta in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Novanta has an average rating of “Buy” and a consensus price target of $194.00.
Get Our Latest Stock Analysis on Novanta
Novanta Stock Performance
Novanta (NASDAQ:NOVT – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.06. The company had revenue of $265.81 million during the quarter, compared to the consensus estimate of $262.30 million. Novanta had a return on equity of 10.83% and a net margin of 6.00%.The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.76 EPS. Novanta has set its FY 2026 guidance at 3.680-3.740 EPS and its Q3 2026 guidance at 0.950-1.000 EPS. Analysts predict that Novanta Inc. will post 3.7 EPS for the current fiscal year.
Hedge Funds Weigh In On Novanta
A number of institutional investors have recently bought and sold shares of NOVT. Envestnet Portfolio Solutions Inc. increased its position in shares of Novanta by 3.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 1,914 shares of the technology company’s stock worth $311,000 after acquiring an additional 70 shares in the last quarter. State Street Corp boosted its stake in Novanta by 7.3% in the 2nd quarter. State Street Corp now owns 1,436,785 shares of the technology company’s stock worth $233,005,000 after purchasing an additional 97,621 shares during the period. SkyView Investment Advisors LLC acquired a new position in Novanta in the 2nd quarter worth approximately $227,000. Tidal Investments LLC grew its position in Novanta by 615.8% during the 2nd quarter. Tidal Investments LLC now owns 34,631 shares of the technology company’s stock worth $5,619,000 after purchasing an additional 29,793 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in Novanta during the 2nd quarter valued at $260,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.
Novanta Company Profile
Novanta Inc (NASDAQ:NOVT) is a medical technology and advanced equipment company that develops components and subsystems used by original equipment manufacturers. Its technologies are designed for applications requiring precision motion, photonics, imaging, and other specialized capabilities, with a primary focus on healthcare and medical device markets.
The company’s offerings include precision motion control systems, motors, pumps, encoders, laser sources, optical components, and beam-delivery systems.
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