Sterling Capital Management LLC lowered its stake in Novanta Inc. (NASDAQ:NOVT – Free Report) by 88.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,197 shares of the technology company’s stock after selling 9,110 shares during the quarter. Sterling Capital Management LLC’s holdings in Novanta were worth $170,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Yousif Capital Management LLC lifted its holdings in Novanta by 11.2% during the third quarter. Yousif Capital Management LLC now owns 10,934 shares of the technology company’s stock valued at $1,555,000 after purchasing an additional 1,098 shares in the last quarter. Diversify Advisory Services LLC increased its stake in shares of Novanta by 9.8% during the third quarter. Diversify Advisory Services LLC now owns 19,097 shares of the technology company’s stock worth $2,574,000 after purchasing an additional 1,705 shares in the last quarter. GK Wealth Management LLC purchased a new stake in shares of Novanta during the third quarter worth about $106,000. GAMMA Investing LLC raised its position in shares of Novanta by 14.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,016 shares of the technology company’s stock worth $144,000 after purchasing an additional 132 shares during the last quarter. Finally, Fenimore Asset Management Inc raised its position in shares of Novanta by 0.6% during the 3rd quarter. Fenimore Asset Management Inc now owns 116,691 shares of the technology company’s stock worth $16,592,000 after purchasing an additional 718 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.
Novanta Price Performance
Shares of NASDAQ NOVT opened at $145.76 on Friday. The firm has a 50-day simple moving average of $142.32 and a 200-day simple moving average of $142.34. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 93.44 and a beta of 1.72. The company has a quick ratio of 3.79, a current ratio of 4.57 and a debt-to-equity ratio of 0.12. Novanta Inc. has a 52 week low of $98.27 and a 52 week high of $176.38.
Novanta (NASDAQ:NOVT – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.06. The firm had revenue of $265.81 million for the quarter, compared to the consensus estimate of $262.30 million. Novanta had a net margin of 6.00% and a return on equity of 10.83%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $0.76 earnings per share. Novanta has set its FY 2026 guidance at 3.680-3.740 EPS and its Q3 2026 guidance at 0.950-1.000 EPS. On average, equities analysts predict that Novanta Inc. will post 3.70 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on NOVT shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novanta in a research note on Tuesday, October 13th. Zacks Research lowered Novanta from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Wall Street Zen downgraded Novanta from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Finally, Robert W. Baird set a $194.00 price target on Novanta in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $194.00.
View Our Latest Stock Analysis on NOVT
About Novanta
Novanta Inc is a technology company that develops and manufactures precision equipment and components used primarily in medical and advanced industrial applications. Its solutions are designed to support the movement, imaging, measurement and processing functions of complex equipment.
The company’s products include photonics and laser components, precision motion-control systems, medical imaging and visualization technologies, and equipment used in minimally invasive and robotic surgery.
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