Handelsbanken Fonder AB Purchases 77,868 Shares of Novanta Inc. $NOVT

Handelsbanken Fonder AB raised its position in Novanta Inc. (NASDAQ:NOVT) by 568.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 91,560 shares of the technology company’s stock after acquiring an additional 77,868 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.26% of Novanta worth $9,170,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Novanta during the 3rd quarter valued at about $36,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Novanta in the second quarter worth approximately $52,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Novanta in the third quarter worth approximately $40,000. Huntington National Bank grew its position in Novanta by 65.7% during the second quarter. Huntington National Bank now owns 492 shares of the technology company’s stock valued at $63,000 after buying an additional 195 shares during the period. Finally, Harbor Investment Advisory LLC grew its position in Novanta by 47.1% during the third 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 hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Robert W. Baird set a $150.00 price target on shares of Novanta in a research note on Wednesday. Weiss Ratings upgraded Novanta from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, January 20th. Finally, Zacks Research upgraded Novanta from a “strong sell” rating to a “hold” rating in a research report on Friday, January 16th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $150.00.

Novanta Stock Performance

Shares of NASDAQ NOVT opened at $134.43 on Monday. The firm has a fifty day moving average price of $133.34 and a 200-day moving average price of $120.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.69 and a quick ratio of 2.80. The stock has a market cap of $4.80 billion, a PE ratio of 92.08 and a beta of 1.61. Novanta Inc. has a 1 year low of $98.27 and a 1 year high of $149.95.

Novanta (NASDAQ:NOVT) last released its earnings results on Monday, February 23rd. The technology company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $258.35 million for the quarter, compared to analysts’ expectations of $260.72 million. Novanta had a net margin of 5.49% and a return on equity of 13.12%. During the same quarter in the previous year, the company earned $0.76 EPS. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q1 2026 guidance at 0.750-0.800 EPS. Equities analysts anticipate that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Robert Buckley sold 1,423 shares of Novanta stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $140.88, for a total transaction of $200,472.24. Following the sale, the chief financial officer owned 93,814 shares of the company’s stock, valued at approximately $13,216,516.32. This trade represents a 1.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthijs Glastra sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $145.04, for a total value of $1,087,800.00. Following the completion of the transaction, the chief executive officer directly owned 57,367 shares in the company, valued at approximately $8,320,509.68. This represents a 11.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 24,346 shares of company stock worth $3,382,737 over the last 90 days. Company insiders own 1.20% of the company’s stock.

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.