Marco Investment Management LLC Buys New Holdings in Novanta Inc. $NOVT

Marco Investment Management LLC bought a new position in Novanta Inc. (NASDAQ:NOVT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,970 shares of the technology company’s stock, valued at approximately $254,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Novanta in the second quarter worth about $52,000. Huntington National Bank raised its position in shares of Novanta by 65.7% during the 2nd quarter. Huntington National Bank now owns 492 shares of the technology company’s stock valued at $63,000 after buying an additional 195 shares in the last quarter. Bank of New York Mellon Corp raised its position in Novanta by 9.8% during the second quarter. Bank of New York Mellon Corp now owns 288,077 shares of the technology company’s stock valued at $37,142,000 after purchasing an additional 25,677 shares during the period. Geneva Capital Management LLC raised its holdings in Novanta by 5.9% during the 2nd quarter. Geneva Capital Management LLC now owns 988,969 shares of the technology company’s stock valued at $127,508,000 after buying an additional 54,934 shares during the period. Finally, Atria Investments Inc increased its position in Novanta by 11.2% during the second quarter. Atria Investments Inc now owns 3,031 shares of the technology company’s stock valued at $391,000 after acquiring an additional 305 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NOVT has been the topic of several recent analyst reports. 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 target price on Novanta from $139.00 to $133.00 and set a “neutral” rating for the company 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, Zacks Research upgraded shares of Novanta from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. 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, the stock has an average rating of “Reduce” and an average target price of $133.00.

Novanta Price Performance

Shares of NOVT stock opened at $105.45 on Friday. Novanta Inc. has a fifty-two week low of $98.76 and a fifty-two week high of $183.85. 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 has a market capitalization of $3.79 billion, a price-to-earnings ratio of 62.03 and a beta of 1.54. The stock’s 50-day simple moving average is $112.81 and its 200-day simple moving average is $119.78.

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

Novanta declared that its board has initiated a stock repurchase 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 purchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Novanta Company 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.