Novanta Inc. $NOVT Stock Position Lessened by Bessemer Group Inc.

Bessemer Group Inc. lowered its position in shares of Novanta Inc. (NASDAQ:NOVT) by 28.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 159,644 shares of the technology company’s stock after selling 62,747 shares during the period. Bessemer Group Inc.’s holdings in Novanta were worth $18,997,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NOVT. Pilgrim Partners Asia Pte Ltd bought a new position in Novanta during the third quarter valued at about $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Novanta during the third quarter valued at about $40,000. Danske Bank A S bought a new position in Novanta during the third quarter valued at about $40,000. Allworth Financial LP boosted its stake in Novanta by 978.4% during the fourth quarter. Allworth Financial LP now owns 399 shares of the technology company’s stock valued at $47,000 after buying an additional 362 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Novanta by 1,291.4% during the fourth quarter. Farther Finance Advisors LLC now owns 487 shares of the technology company’s stock valued at $58,000 after buying an additional 452 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Insider Buying and Selling at Novanta

In other news, CEO Matthijs Glastra sold 7,500 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $150.43, for a total transaction of $1,128,225.00. Following the completion of the sale, the chief executive officer directly owned 42,761 shares of the company’s stock, valued at $6,432,537.23. This represents a 14.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Buckley sold 9,957 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $116.77, for a total value of $1,162,678.89. Following the sale, the chief financial officer directly owned 96,616 shares of the company’s stock, valued at approximately $11,281,850.32. This represents a 9.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 25,380 shares of company stock valued at $3,336,701. 1.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NOVT has been the subject of several research reports. Robert W. Baird raised their target price on Novanta from $144.00 to $173.00 and gave the company an “outperform” rating in a research note on Wednesday. Wall Street Zen cut Novanta from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novanta in a research note on Friday, April 17th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $173.00.

Novanta Trading Down 1.7%

Shares of NASDAQ NOVT opened at $152.99 on Friday. Novanta Inc. has a 12 month low of $98.27 and a 12 month high of $165.56. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 110.86 and a beta of 1.62. The company has a quick ratio of 2.80, a current ratio of 3.56 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $127.39 and a 200-day simple moving average of $126.39.

Novanta (NASDAQ:NOVT) last announced its earnings results on Monday, May 11th. The technology company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.78 by $0.03. Novanta had a return on equity of 12.06% and a net margin of 5.35%.The business had revenue of $257.71 million during the quarter, compared to the consensus estimate of $253.40 million. During the same period in the prior year, the business posted $0.74 earnings per share. Novanta’s revenue was up 10.4% compared to the same quarter last year. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q2 2026 guidance at 0.810-0.860 EPS. Sell-side analysts predict that Novanta Inc. will post 3.59 EPS for the current 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.