State of Wyoming Purchases Shares of 4,506 Novanta Inc. $NOVT

State of Wyoming purchased a new position in shares of Novanta Inc. (NASDAQ:NOVT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,506 shares of the technology company’s stock, valued at approximately $731,000.

A number of other institutional investors have also modified their holdings of NOVT. GW&K Investment Management LLC lifted its holdings in shares of Novanta by 187.3% in the 4th quarter. GW&K Investment Management LLC now owns 736,954 shares of the technology company’s stock valued at $87,691,000 after buying an additional 480,413 shares during the period. Sculptor Capital LP purchased a new position in Novanta during the fourth quarter valued at approximately $51,265,000. Norges Bank acquired a new position in Novanta in the fourth quarter valued at approximately $50,719,000. Schroder Investment Management Group boosted its position in Novanta by 206.1% in the 4th quarter. Schroder Investment Management Group now owns 600,146 shares of the technology company’s stock worth $72,540,000 after purchasing an additional 404,097 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Novanta by 27.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,776,694 shares of the technology company’s stock worth $210,307,000 after purchasing an additional 377,232 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Novanta Stock Performance

NASDAQ NOVT opened at $166.58 on Monday. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 106.78 and a beta of 1.68. Novanta Inc. has a twelve month low of $98.27 and a twelve month high of $176.38. The company has a current ratio of 4.57, a quick ratio of 3.79 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average of $154.32 and a 200 day moving average of $142.67.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings data 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 return on equity of 10.83% and a net margin of 6.00%.Novanta’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last 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. Sell-side analysts anticipate that Novanta Inc. will post 3.7 EPS for the current fiscal year.

Analysts Set New Price Targets

NOVT has been the subject of several recent research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novanta in a report on Wednesday, July 15th. Robert W. Baird set a $194.00 price target on shares of Novanta in a report on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Novanta from a “hold” rating to a “buy” rating in a research report on Sunday, August 9th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $194.00.

Insider Activity

In other news, CEO Matthijs Glastra sold 6,500 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $161.13, for a total transaction of $1,047,345.00. Following the transaction, the chief executive officer owned 29,761 shares in the company, valued at $4,795,389.93. This trade represents a 17.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by company insiders.

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.