Mutual of America Capital Management LLC Has $6.98 Million Stock Holdings in Novanta Inc. $NOVT

Mutual of America Capital Management LLC lifted its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 30.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 69,689 shares of the technology company’s stock after purchasing an additional 16,423 shares during the period. Mutual of America Capital Management LLC owned 0.19% of Novanta worth $6,979,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. AQR Capital Management LLC grew its position in shares of Novanta by 78.9% during the 1st quarter. AQR Capital Management LLC now owns 4,231 shares of the technology company’s stock worth $537,000 after buying an additional 1,866 shares during the period. Goldman Sachs Group Inc. boosted its stake in Novanta by 1.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 419,037 shares of the technology company’s stock valued at $53,582,000 after purchasing an additional 6,533 shares during the last quarter. Jane Street Group LLC increased its holdings in Novanta by 1,762.5% during the 1st quarter. Jane Street Group LLC now owns 61,631 shares of the technology company’s stock worth $7,881,000 after purchasing an additional 58,322 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Novanta during the 2nd quarter worth approximately $206,000. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Novanta by 8,193.5% in the second quarter. Public Employees Retirement System of Ohio now owns 11,445 shares of the technology company’s stock worth $1,476,000 after purchasing an additional 11,307 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Novanta

In other Novanta news, CEO Matthijs Glastra sold 7,500 shares of the firm’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $140.00, for a total value of $1,050,000.00. Following the sale, the chief executive officer owned 71,367 shares of the company’s stock, valued at $9,991,380. This trade represents a 9.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Buckley sold 1,423 shares of the firm’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $140.14, for a total value of $199,419.22. Following the completion of the sale, the chief financial officer directly owned 91,034 shares of the company’s stock, valued at $12,757,504.76. The trade was a 1.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 15,423 shares of company stock worth $2,094,464. 1.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NOVT has been the subject of several analyst reports. Weiss Ratings upgraded shares of Novanta from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 20th. Zacks Research upgraded Novanta from a “strong sell” rating to a “hold” rating in a research note on Friday, January 16th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $133.00.

Novanta Stock Performance

Shares of NOVT opened at $138.88 on Wednesday. The stock’s 50-day simple moving average is $121.45 and its 200 day simple moving average is $117.41. 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 Inc. has a 52-week low of $98.27 and a 52-week high of $153.20. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 94.48 and a beta of 1.60.

Novanta (NASDAQ:NOVT) last announced its earnings results on Monday, November 3rd. The technology company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $245.95 million. During the same period last year, the firm posted $0.85 earnings per share. Novanta’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 and its Q4 2025 guidance at 0.870-0.930 EPS. Research analysts forecast that Novanta Inc. will post 3.03 EPS for the current fiscal year.

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.