Russell Investments Group Ltd. Grows Stock Position in Novanta Inc. $NOVT

Russell Investments Group Ltd. grew its position in Novanta Inc. (NASDAQ:NOVT) by 49.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,096 shares of the technology company’s stock after acquiring an additional 5,341 shares during the quarter. Russell Investments Group Ltd.’s holdings in Novanta were worth $2,058,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NOVT. First Trust Advisors LP lifted its position in shares of Novanta by 22.8% in the fourth quarter. First Trust Advisors LP now owns 5,909 shares of the technology company’s stock valued at $903,000 after acquiring an additional 1,096 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Novanta by 27.6% in the fourth quarter. Stifel Financial Corp now owns 9,577 shares of the technology company’s stock valued at $1,463,000 after acquiring an additional 2,071 shares in the last quarter. Susquehanna International Group LLP lifted its position in shares of Novanta by 816.9% in the fourth quarter. Susquehanna International Group LLP now owns 15,335 shares of the technology company’s stock valued at $2,343,000 after acquiring an additional 17,474 shares in the last quarter. Pinebridge Investments L.P. lifted its position in shares of Novanta by 42.7% in the fourth quarter. Pinebridge Investments L.P. now owns 14,354 shares of the technology company’s stock valued at $2,193,000 after acquiring an additional 4,293 shares in the last quarter. Finally, Johnson Financial Group Inc. lifted its position in shares of Novanta by 482.1% in the fourth quarter. Johnson Financial Group Inc. now owns 326 shares of the technology company’s stock valued at $49,000 after acquiring an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Novanta Price Performance

NASDAQ:NOVT opened at $118.73 on Tuesday. Novanta Inc. has a 52 week low of $98.76 and a 52 week high of $186.75. 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 capitalization of $4.27 billion, a P/E ratio of 69.84 and a beta of 1.48. The stock’s fifty day moving average is $123.82 and its two-hundred day moving average is $126.64.

Novanta (NASDAQ:NOVT) last posted its earnings results on Tuesday, August 5th. The technology company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $237.97 million. During the same quarter in the previous year, the business earned $0.73 earnings per share. The company’s revenue for the quarter 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 expect that Novanta Inc. will post 3.03 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on NOVT. Wall Street Zen lowered Novanta from a “buy” rating to a “hold” rating in a research note on Monday, August 11th. Robert W. Baird cut their target price on Novanta from $139.00 to $133.00 and set a “neutral” rating for the company in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.