Exchange Traded Concepts LLC Boosts Holdings in Novanta Inc. $NOVT

Exchange Traded Concepts LLC grew its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 6.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 146,097 shares of the technology company’s stock after purchasing an additional 8,854 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.41% of Novanta worth $18,836,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NOVT. Parallel Advisors LLC boosted its stake in shares of Novanta by 1,426.7% during the first quarter. Parallel Advisors LLC now owns 229 shares of the technology company’s stock valued at $29,000 after purchasing an additional 214 shares during the period. SVB Wealth LLC purchased a new stake in shares of Novanta during the first quarter valued at $48,000. GAMMA Investing LLC boosted its stake in shares of Novanta by 146.0% during the first quarter. GAMMA Investing LLC now owns 401 shares of the technology company’s stock valued at $51,000 after purchasing an additional 238 shares during the period. CWM LLC raised its holdings in shares of 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 acquiring an additional 310 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of 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 acquiring an additional 184 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Novanta Price Performance

Shares of NASDAQ NOVT opened at $112.97 on Thursday. The business’s 50 day moving average price is $119.62 and its 200 day moving average price is $123.44. The firm has a market cap of $4.06 billion, a P/E ratio of 66.45 and a beta of 1.50. Novanta Inc. has a 52 week low of $98.76 and a 52 week high of $184.11. The company has a quick ratio of 1.62, a current ratio of 2.54 and a debt-to-equity ratio of 0.57.

Novanta (NASDAQ:NOVT) last issued 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. The firm had revenue of $241.05 million for the quarter, compared to analyst estimates of $237.97 million. Novanta had a return on equity of 14.70% and a net margin of 6.41%.Novanta’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 earnings per share. Novanta has set its FY 2025 guidance at 3.220-3.360 EPS. Q3 2025 guidance at 0.780-0.850 EPS. On average, sell-side analysts expect that Novanta Inc. will post 3.03 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wall Street Zen downgraded Novanta from a “buy” rating to a “hold” rating in a report on Monday, August 11th. Robert W. Baird decreased their price objective on Novanta from $139.00 to $133.00 and set a “neutral” rating for the company in a report on Monday, August 11th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $133.00.

About Novanta

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.