SG Americas Securities LLC Buys 6,686 Shares of Novanta Inc. $NOVT

SG Americas Securities LLC lifted its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 281.3% during the third quarter, Holdings Channel reports. The fund owned 9,063 shares of the technology company’s stock after buying an additional 6,686 shares during the quarter. SG Americas Securities LLC’s holdings in Novanta were worth $908,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Public Employees Retirement System of Ohio raised its holdings in shares of Novanta by 8,193.5% during the second quarter. Public Employees Retirement System of Ohio now owns 11,445 shares of the technology company’s stock valued at $1,476,000 after purchasing an additional 11,307 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Novanta in the 2nd quarter valued at about $340,000. Teacher Retirement System of Texas raised its stake in Novanta by 51.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 9,666 shares of the technology company’s stock worth $1,246,000 after buying an additional 3,272 shares during the period. Atika Capital Management LLC acquired a new position in Novanta during the 2nd quarter worth approximately $1,367,000. Finally, Congress Asset Management Co. bought a new position in Novanta in the third quarter worth approximately $59,153,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Novanta

In other news, CEO Matthijs Glastra sold 6,177 shares of the company’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $130.00, for a total value of $803,010.00. Following the completion of the sale, the chief executive officer owned 78,867 shares in the company, valued at $10,252,710. This represents a 7.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Weiss Ratings downgraded Novanta from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Zacks Research cut Novanta from a “hold” rating to a “strong sell” rating in a report on Thursday, December 18th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Novanta has an average rating of “Sell” and an average price target of $133.00.

Novanta Stock Performance

Shares of NOVT opened at $134.57 on Tuesday. The firm has a market capitalization of $4.81 billion, a P/E ratio of 91.54 and a beta of 1.60. Novanta Inc. has a 52 week low of $98.27 and a 52 week high of $154.16. The stock has a 50 day moving average price of $117.60 and a two-hundred day moving average price of $117.18. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.54 and a current ratio of 2.51.

Novanta (NASDAQ:NOVT) last announced its earnings results on Monday, November 3rd. The technology company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.06. The company had revenue of $247.84 million for the quarter, compared to analysts’ expectations of $245.95 million. Novanta had a return on equity of 14.53% and a net margin of 5.50%.Novanta’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 earnings per share. 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 forecast that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

About Novanta

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.