Novanta Inc. $NOVT Shares Acquired by Callan Family Office LLC

Callan Family Office LLC grew its position in Novanta Inc. (NASDAQ:NOVT) by 65.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,117 shares of the technology company’s stock after acquiring an additional 2,031 shares during the period. Callan Family Office LLC’s holdings in Novanta were worth $660,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Novanta by 146.0% during the 1st quarter. GAMMA Investing LLC now owns 401 shares of the technology company’s stock worth $51,000 after purchasing an additional 238 shares during the last quarter. Conestoga Capital Advisors LLC grew its stake in Novanta by 1.3% during the 1st quarter. Conestoga Capital Advisors LLC now owns 1,365,252 shares of the technology company’s stock valued at $174,575,000 after acquiring an additional 17,220 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Novanta by 2.6% during the 1st quarter. State of Alaska Department of Revenue now owns 4,201 shares of the technology company’s stock valued at $537,000 after acquiring an additional 105 shares in the last quarter. WoodTrust Financial Corp grew its stake in Novanta by 11.5% during the 1st quarter. WoodTrust Financial Corp now owns 2,433 shares of the technology company’s stock valued at $311,000 after acquiring an additional 250 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in Novanta by 4.0% during the 1st quarter. Bessemer Group Inc. now owns 151,430 shares of the technology company’s stock valued at $19,362,000 after acquiring an additional 5,818 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Novanta Stock Up 3.2%

NOVT stock opened at $103.12 on Tuesday. 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 company has a market cap of $3.71 billion, a P/E ratio of 60.66 and a beta of 1.49. The company’s 50-day moving average price is $112.31 and its 200 day moving average price is $119.20. Novanta Inc. has a 52 week low of $98.76 and a 52 week high of $184.11.

Novanta (NASDAQ:NOVT) last announced its earnings results on Tuesday, August 5th. The technology company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The company had revenue of $241.05 million during the quarter, compared to analysts’ expectations of $237.97 million. Novanta had a net margin of 6.41% and a return on equity of 14.70%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $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. On average, research analysts expect that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

Novanta announced that its board has initiated a stock repurchase program on Thursday, September 18th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the technology company to purchase up to 4.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NOVT shares. Wall Street Zen cut shares of Novanta from a “buy” rating to a “hold” rating in a research note on Monday, August 11th. Zacks Research upgraded shares of Novanta from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Robert W. Baird dropped their target price on shares of Novanta from $139.00 to $133.00 and set a “neutral” rating for the company in a report on Monday, August 11th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Novanta in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” 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.