Advantage Alpha Capital Partners LP Has $4.61 Million Stock Holdings in Novanta Inc. $NOVT

Advantage Alpha Capital Partners LP lowered its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 7.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,763 shares of the technology company’s stock after selling 3,060 shares during the period. Novanta comprises about 1.2% of Advantage Alpha Capital Partners LP’s portfolio, making the stock its 26th biggest holding. Advantage Alpha Capital Partners LP owned about 0.10% of Novanta worth $4,611,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Conestoga Capital Advisors LLC grew its position in Novanta by 15.7% in the second quarter. Conestoga Capital Advisors LLC now owns 1,579,626 shares of the technology company’s stock valued at $203,661,000 after acquiring an additional 214,374 shares during the last quarter. Champlain Investment Partners LLC grew its holdings in shares of Novanta by 45.6% during the 1st quarter. Champlain Investment Partners LLC now owns 596,190 shares of the technology company’s stock valued at $76,235,000 after purchasing an additional 186,848 shares during the last quarter. Millennium Management LLC increased its position in Novanta by 180.7% during the 1st quarter. Millennium Management LLC now owns 247,848 shares of the technology company’s stock worth $31,692,000 after purchasing an additional 159,551 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Novanta by 18.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 895,119 shares of the technology company’s stock valued at $117,099,000 after purchasing an additional 141,112 shares during the last quarter. Finally, Clearline Capital LP acquired a new stake in Novanta in the first quarter valued at approximately $17,117,000. 98.35% of the stock is currently owned by institutional investors.

Novanta Stock Up 0.9%

Shares of NOVT opened at $112.95 on Friday. The stock’s 50-day moving average price is $110.41 and its two-hundred day moving average price is $118.54. Novanta Inc. has a 12 month low of $98.27 and a 12 month high of $173.16. The company has a market capitalization of $4.04 billion, a PE ratio of 66.44 and a beta of 1.54. The company has a current ratio of 2.54, a quick ratio of 1.62 and a debt-to-equity ratio of 0.57.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings results on Monday, November 3rd. The technology company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.06. The company had revenue of $247.84 million during the quarter, compared to analysts’ expectations of $245.95 million. Novanta had a return on equity of 14.70% and a net margin of 6.41%.The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 earnings per share. Novanta has set its FY 2025 guidance at 3.240-3.300 EPS. Q4 2025 guidance at 0.870-0.930 EPS. On average, analysts anticipate that Novanta Inc. will post 3.03 EPS for the current year.

Novanta announced that its board has approved a share buyback plan on Thursday, September 18th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Novanta from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Robert W. Baird reduced their price objective on Novanta from $139.00 to $133.00 and set a “neutral” rating on the stock in a research report on Monday, August 11th. Weiss Ratings downgraded Novanta from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. Finally, Wall Street Zen lowered Novanta from a “buy” rating to a “hold” rating in a research note on Monday, August 11th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Novanta has a consensus rating of “Reduce” and an average 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.