Thames Capital Management LLC Sells 10,466 Shares of Novanta Inc. $NOVT

Thames Capital Management LLC trimmed its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 16.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 53,301 shares of the technology company’s stock after selling 10,466 shares during the period. Thames Capital Management LLC’s holdings in Novanta were worth $5,338,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Conestoga Capital Advisors LLC raised its holdings in Novanta by 15.7% during the second quarter. Conestoga Capital Advisors LLC now owns 1,579,626 shares of the technology company’s stock worth $203,661,000 after acquiring an additional 214,374 shares in the last quarter. Wasatch Advisors LP increased its position in shares of Novanta by 10.6% during the 2nd quarter. Wasatch Advisors LP now owns 1,100,029 shares of the technology company’s stock worth $141,827,000 after purchasing an additional 104,985 shares during the last quarter. Geneva Capital Management LLC raised its stake in shares of Novanta by 5.9% during the 2nd quarter. Geneva Capital Management LLC now owns 988,969 shares of the technology company’s stock worth $127,508,000 after purchasing an additional 54,934 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Novanta by 5.5% in the 2nd quarter. William Blair Investment Management LLC now owns 979,893 shares of the technology company’s stock valued at $126,338,000 after buying an additional 51,005 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Novanta by 1.4% in the second quarter. Geode Capital Management LLC now owns 919,666 shares of the technology company’s stock valued at $118,585,000 after buying an additional 12,789 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Insider Activity

In other news, CEO Matthijs Glastra sold 6,177 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $130.00, for a total value of $803,010.00. Following the transaction, the chief executive officer owned 78,867 shares of the company’s stock, valued at approximately $10,252,710. This represents a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by corporate insiders.

Novanta Trading Up 1.4%

NOVT stock opened at $133.18 on Friday. Novanta Inc. has a one year low of $98.27 and a one year high of $154.16. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 90.60 and a beta of 1.60. The company has a fifty day moving average price of $116.41 and a two-hundred day moving average price of $117.34. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.51 and a quick ratio of 1.54.

Novanta (NASDAQ:NOVT) last announced its earnings results on Monday, November 3rd. The technology company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.81 by $0.06. Novanta had a net margin of 5.50% and a return on equity of 14.53%. The business had revenue of $247.84 million during the quarter, compared to the consensus estimate of $245.95 million. During the same quarter in the previous year, the firm posted $0.85 EPS. Novanta’s revenue was up 1.4% compared to the same quarter last year. Novanta has set its FY 2025 guidance at 3.240-3.300 EPS and its Q4 2025 guidance at 0.870-0.930 EPS. Equities analysts anticipate that Novanta Inc. will post 3.03 EPS for the current year.

Novanta declared that its board has authorized a stock repurchase program on Thursday, September 18th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 4.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NOVT shares. Weiss Ratings lowered shares of Novanta from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. Zacks Research cut shares of Novanta from a “hold” rating to a “strong sell” rating in a report on Thursday, December 18th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Novanta currently has an average rating of “Sell” and a consensus price target of $133.00.

Novanta Company Profile

Novanta, Inc (NASDAQ: NOVT) is a global technology company that designs and manufactures precision components, subsystems and software used in advanced photonics and motion control applications. The company serves customers in the medical device and advanced industrial markets, supplying critical technologies for diagnostics and therapeutic systems, semiconductor and electronics manufacturing, and scientific instrumentation. Novanta’s product portfolio includes laser control modules, optics, beam delivery systems, high-precision motors, actuators, stages, and fluidics solutions designed to meet stringent accuracy and reliability requirements.

Novanta’s Photonics segment delivers laser and energy delivery components that enable minimally invasive surgical procedures and diagnostic imaging.