Y Intercept Hong Kong Ltd Buys 13,925 Shares of Novanta Inc. $NOVT

Y Intercept Hong Kong Ltd grew its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 86.8% in the third quarter, Holdings Channel reports. The institutional investor owned 29,970 shares of the technology company’s stock after purchasing an additional 13,925 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Novanta were worth $3,001,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Gibbs Wealth Management bought a new stake in shares of Novanta in the 3rd quarter worth approximately $526,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Novanta in the third quarter valued at $241,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Novanta by 42.3% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 4,268 shares of the technology company’s stock worth $427,000 after purchasing an additional 1,268 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Novanta during the third quarter worth $40,000. Finally, Harbor Investment Advisory LLC increased its holdings in Novanta by 47.1% in the 3rd quarter. Harbor Investment Advisory LLC now owns 987 shares of the technology company’s stock valued at $99,000 after buying an additional 316 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity

In other Novanta news, CEO Matthijs Glastra sold 7,500 shares of the stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $140.00, for a total value of $1,050,000.00. Following the transaction, the chief executive officer directly owned 71,367 shares in the company, valued at approximately $9,991,380. This trade represents a 9.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert Buckley sold 1,423 shares of Novanta stock in a transaction on Wednesday, January 21st. The shares were 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. This trade represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 15,423 shares of company stock worth $2,094,464. 1.20% of the stock is owned by corporate insiders.

Novanta Stock Performance

NASDAQ:NOVT opened at $139.54 on Tuesday. The stock has a market capitalization of $4.99 billion, a P/E ratio of 93.56 and a beta of 1.60. The company has a current ratio of 2.51, a quick ratio of 1.54 and a debt-to-equity ratio of 0.56. Novanta Inc. has a 1 year low of $98.27 and a 1 year high of $153.20. The firm has a 50 day moving average of $120.66 and a 200-day moving average of $117.36.

Novanta (NASDAQ:NOVT) last released its quarterly 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. The firm had revenue of $247.84 million during 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%.The business’s revenue was up 1.4% on a year-over-year basis. During the same period last year, the firm posted $0.85 EPS. Novanta has set its FY 2025 guidance at 3.240-3.300 EPS and its Q4 2025 guidance at 0.870-0.930 EPS. As a group, sell-side analysts anticipate 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.