Intech Investment Management LLC Buys 3,688 Shares of Novanta Inc. $NOVT

Intech Investment Management LLC boosted its stake in Novanta Inc. (NASDAQ:NOVT) by 24.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,687 shares of the technology company’s stock after purchasing an additional 3,688 shares during the period. Intech Investment Management LLC owned approximately 0.05% of Novanta worth $2,390,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in NOVT. Deutsche Bank AG grew its position in Novanta by 57.5% in the 4th quarter. Deutsche Bank AG now owns 33,840 shares of the technology company’s stock worth $5,170,000 after purchasing an additional 12,350 shares during the period. D. E. Shaw & Co. Inc. bought a new stake in Novanta in the 4th quarter worth approximately $3,681,000. Focus Partners Wealth bought a new stake in Novanta in the 4th quarter worth approximately $538,000. Lazard Asset Management LLC grew its position in shares of Novanta by 220.6% during the 4th quarter. Lazard Asset Management LLC now owns 5,969 shares of the technology company’s stock valued at $911,000 after acquiring an additional 4,107 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Novanta by 6.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,761 shares of the technology company’s stock valued at $5,608,000 after acquiring an additional 2,317 shares during the period. Institutional investors own 98.35% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird cut their price objective on shares of Novanta from $139.00 to $133.00 and set a “neutral” rating for the company in a research report on Monday, August 11th. Wall Street Zen downgraded shares of Novanta from a “buy” rating to a “hold” rating in a report on Monday, August 11th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $133.00.

Novanta Stock Down 0.7%

Shares of NASDAQ NOVT opened at $113.78 on Tuesday. The firm’s 50-day moving average price is $120.36 and its 200-day moving average price is $123.58. The company has a current ratio of 2.54, a quick ratio of 1.62 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 66.93 and a beta of 1.50. Novanta Inc. has a 12-month low of $98.76 and a 12-month high of $184.11.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings results on Tuesday, August 5th. The technology company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. The company had revenue of $241.05 million for the quarter, compared to the consensus estimate of $237.97 million. Novanta had a net margin of 6.41% and a return on equity of 14.70%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.73 EPS. Novanta has set its FY 2025 guidance at 3.220-3.360 EPS. Q3 2025 guidance at 0.780-0.850 EPS. On average, equities research analysts anticipate that Novanta Inc. will post 3.03 EPS for the current fiscal 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.