Moody Aldrich Partners LLC Has $2.65 Million Holdings in Novanta Inc. $NOVT

Moody Aldrich Partners LLC decreased its holdings in Novanta Inc. (NASDAQ:NOVT) by 1.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,528 shares of the technology company’s stock after selling 316 shares during the quarter. Moody Aldrich Partners LLC owned 0.06% of Novanta worth $2,647,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Conestoga Capital Advisors LLC raised its position in shares of 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 buying an additional 214,374 shares in the last quarter. William Blair Investment Management LLC increased its holdings in 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 period. Geneva Capital Management LLC raised its position in shares of Novanta by 9.5% in the 1st quarter. Geneva Capital Management LLC now owns 934,035 shares of the technology company’s stock valued at $119,435,000 after buying an additional 81,397 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Novanta by 18.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 895,119 shares of the technology company’s stock worth $117,099,000 after acquiring an additional 141,112 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of Novanta by 1.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 693,090 shares of the technology company’s stock worth $88,626,000 after acquiring an additional 12,921 shares during the period. Institutional investors own 98.35% of the company’s stock.

Novanta Trading Down 2.6%

Shares of NOVT stock opened at $125.22 on Friday. Novanta Inc. has a twelve month low of $98.76 and a twelve month high of $184.11. The stock’s fifty day simple moving average is $112.29 and its 200 day simple moving average is $119.40. The company has a quick ratio of 1.62, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $4.50 billion, a P/E ratio of 73.66 and a beta of 1.49.

Novanta (NASDAQ:NOVT) last posted its 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 firm had revenue of $241.05 million during the quarter, compared to the consensus estimate of $237.97 million. Novanta had a return on equity of 14.70% and a net margin of 6.41%.The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the company 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. As a group, sell-side analysts predict that Novanta Inc. will post 3.03 EPS for the current fiscal year.

Novanta declared that its Board of Directors has initiated a stock buyback plan on Thursday, September 18th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the technology company to purchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

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