Novanta (NASDAQ:NOVT) Stock Gets Downgrade from Wall Street Zen

Novanta (NASDAQ:NOVT) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

Several other analysts have also commented on the stock. Robert W. Baird set a $194.00 price target on shares of Novanta in a research report on Friday, August 7th. Zacks Research cut Novanta from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Novanta in a research report on Tuesday, October 13th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $194.00.

Novanta Price Performance

Novanta stock opened at $140.80 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.79 and a current ratio of 4.57. The business’s 50-day simple moving average is $142.81 and its two-hundred day simple moving average is $146.89. The company has a market cap of $5.33 billion, a PE ratio of 90.26 and a beta of 1.72. Novanta has a fifty-two week low of $98.27 and a fifty-two week high of $176.38.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.83 by $0.06. The company had revenue of $265.81 million for the quarter, compared to analyst estimates of $262.30 million. Novanta had a net margin of 6.00% and a return on equity of 10.83%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.76 earnings per share. Novanta has set its FY 2026 guidance at 3.680-3.740 EPS and its Q3 2026 guidance at 0.950-1.000 EPS. Equities analysts anticipate that Novanta will post 3.70 EPS for the current year.

Hedge Funds Weigh In On Novanta

A number of large investors have recently made changes to their positions in the stock. Signaturefd LLC increased its position in shares of Novanta by 231.7% in the third quarter. Signaturefd LLC now owns 345 shares of the technology company’s stock valued at $49,000 after buying an additional 241 shares in the last quarter. Gibbs Wealth Management boosted its position in shares of Novanta by 5.7% in the 3rd quarter. Gibbs Wealth Management now owns 12,328 shares of the technology company’s stock worth $1,753,000 after buying an additional 662 shares in the last quarter. Yousif Capital Management LLC boosted its position in shares of Novanta by 11.2% in the 3rd quarter. Yousif Capital Management LLC now owns 10,934 shares of the technology company’s stock worth $1,555,000 after buying an additional 1,098 shares in the last quarter. Diversify Advisory Services LLC grew its stake in Novanta by 9.8% in the 3rd quarter. Diversify Advisory Services LLC now owns 19,097 shares of the technology company’s stock valued at $2,574,000 after acquiring an additional 1,705 shares during the last quarter. Finally, GK Wealth Management LLC acquired a new stake in Novanta in the 3rd quarter valued at about $106,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

About Novanta

Novanta Inc is a technology company that develops and manufactures precision equipment and components used primarily in medical and advanced industrial applications. Its solutions are designed to support the movement, imaging, measurement and processing functions of complex equipment.

The company’s products include photonics and laser components, precision motion-control systems, medical imaging and visualization technologies, and equipment used in minimally invasive and robotic surgery.