Moody Aldrich Partners LLC grew its stake in shares of Novanta Inc. (NASDAQ:NOVT – Free Report) by 30.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,726 shares of the technology company’s stock after purchasing an additional 5,067 shares during the quarter. Moody Aldrich Partners LLC owned approximately 0.06% of Novanta worth $3,089,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in NOVT. Public Employees Retirement System of Ohio bought a new stake in Novanta during the 2nd quarter valued at about $34,000. Signaturefd LLC boosted its position in Novanta by 231.7% in the 3rd quarter. Signaturefd LLC now owns 345 shares of the technology company’s stock valued at $49,000 after buying an additional 241 shares during the period. Harbor Investment Advisory LLC purchased a new stake in Novanta in the 2nd quarter valued at about $54,000. Allworth Financial LP bought a new position in Novanta in the 2nd quarter worth about $59,000. Finally, Integrated Wealth Concepts LLC bought a new position in Novanta in the 2nd quarter worth about $63,000. 98.35% of the stock is currently owned by institutional investors.
Novanta Stock Performance
Shares of Novanta stock opened at $150.66 on Thursday. The firm has a market cap of $5.70 billion, a P/E ratio of 96.58 and a beta of 1.72. The company has a current ratio of 4.57, a quick ratio of 3.79 and a debt-to-equity ratio of 0.12. Novanta Inc. has a 12 month low of $98.27 and a 12 month high of $176.38. The stock’s fifty day moving average price is $142.21 and its 200-day moving average price is $142.16.
Novanta (NASDAQ:NOVT – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.06. Novanta had a return on equity of 10.83% and a net margin of 6.00%. The firm had revenue of $265.81 million during the quarter, compared to the consensus estimate of $262.30 million. During the same period in the previous year, the company posted $0.76 earnings per share. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. 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 research analysts expect that Novanta Inc. will post 3.70 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novanta in a research report on Tuesday, October 13th. Robert W. Baird set a $194.00 price target on Novanta in a report on Friday, August 7th. Wall Street Zen lowered Novanta from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Finally, Zacks Research cut Novanta from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Novanta has a consensus rating of “Hold” and an average target price of $194.00.
Check Out Our Latest Stock Report on NOVT
Novanta Profile
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.
Featured Stories
- Five stocks we like better than Novanta
- Boeing Got Its MAX 10 Approval, But Q3 Delivered a Reality Check
- The Invisible AI Backbone: Corning’s AI Fiber Play
- Heavy Metal: Why Nucor Could Be an Overlooked AI Infrastructure Winner
- Why Tesla’s Upside Is About More Than a SpaceX Merger
Receive News & Ratings for Novanta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novanta and related companies with MarketBeat.com's FREE daily email newsletter.
