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

Thames Capital Management LLC increased its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 19.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,767 shares of the technology company’s stock after buying an additional 10,466 shares during the quarter. Novanta comprises approximately 1.9% of Thames Capital Management LLC’s investment portfolio, making the stock its 24th biggest position. Thames Capital Management LLC owned about 0.18% of Novanta worth $8,221,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC grew its holdings in shares of Novanta by 329.8% during the 1st quarter. CWM LLC now owns 404 shares of the technology company’s stock worth $52,000 after purchasing an additional 310 shares in the last quarter. Signaturefd LLC increased its holdings in Novanta by 80.0% in the 1st quarter. Signaturefd LLC now owns 414 shares of the technology company’s stock valued at $53,000 after buying an additional 184 shares during the period. Avantax Advisory Services Inc. raised its position in shares of Novanta by 11.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 8,267 shares of the technology company’s stock valued at $1,057,000 after buying an additional 854 shares in the last quarter. HB Wealth Management LLC bought a new stake in shares of Novanta during the 1st quarter worth approximately $239,000. Finally, TD Asset Management Inc boosted its position in shares of Novanta by 5.0% during the 1st quarter. TD Asset Management Inc now owns 23,300 shares of the technology company’s stock worth $2,979,000 after acquiring an additional 1,106 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Novanta Stock Performance

Shares of NOVT stock opened at $103.79 on Monday. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 61.05 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. The business’s 50-day moving average price is $112.03 and its 200-day moving average price is $119.43. Novanta Inc. has a 12 month low of $98.76 and a 12 month high of $175.83.

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

Novanta declared that its Board of Directors has approved a share repurchase program on Thursday, September 18th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 4.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

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.