Amundi Has $2.26 Million Stake in Novanta Inc. $NOVT

Amundi raised its position in Novanta Inc. (NASDAQ:NOVT) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,695 shares of the technology company’s stock after buying an additional 559 shares during the period. Amundi’s holdings in Novanta were worth $2,263,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its position in Novanta by 1,426.7% in the first quarter. Parallel Advisors LLC now owns 229 shares of the technology company’s stock valued at $29,000 after buying an additional 214 shares in the last quarter. SVB Wealth LLC acquired a new position in Novanta in the first quarter valued at about $48,000. GAMMA Investing LLC boosted its position in Novanta by 146.0% in the first quarter. GAMMA Investing LLC now owns 401 shares of the technology company’s stock valued at $51,000 after buying an additional 238 shares in the last quarter. CWM LLC boosted its position in Novanta by 329.8% in the first quarter. CWM LLC now owns 404 shares of the technology company’s stock valued at $52,000 after buying an additional 310 shares in the last quarter. Finally, Signaturefd LLC boosted its position in Novanta by 80.0% in the first quarter. Signaturefd LLC now owns 414 shares of the technology company’s stock valued at $53,000 after buying an additional 184 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NOVT has been the topic of a number of recent analyst reports. Robert W. Baird reduced their price target on shares of Novanta from $139.00 to $133.00 and set a “neutral” rating on the stock in a research report on Monday, August 11th. Wall Street Zen cut shares of Novanta from a “buy” rating to a “hold” rating in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Novanta presently has a consensus rating of “Hold” and a consensus target price of $133.00.

Novanta Price Performance

Shares of NOVT stock opened at $117.97 on Friday. Novanta Inc. has a 52-week low of $98.76 and a 52-week high of $184.11. The stock has a market cap of $4.24 billion, a PE ratio of 69.39 and a beta of 1.50. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.62 and a current ratio of 2.54. The firm’s 50 day moving average price is $121.04 and its two-hundred day moving average price is $124.35.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. Novanta had a net margin of 6.41% and a return on equity of 14.70%. The firm had revenue of $241.05 million for the quarter, compared to analysts’ expectations of $237.97 million. During the same period last year, the firm earned $0.73 earnings per share. The business’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. As a group, analysts forecast that Novanta Inc. will post 3.03 EPS for the current year.

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.