Mitsubishi UFJ Asset Management Co. Ltd. Purchases New Position in Novanta Inc. $NOVT

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Novanta Inc. (NASDAQ:NOVT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,855 shares of the technology company’s stock, valued at approximately $788,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in NOVT. AQR Capital Management LLC lifted its stake in shares of Novanta by 78.9% during the 1st quarter. AQR Capital Management LLC now owns 4,231 shares of the technology company’s stock worth $537,000 after purchasing an additional 1,866 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Novanta by 1.6% in the first quarter. Goldman Sachs Group Inc. now owns 419,037 shares of the technology company’s stock valued at $53,582,000 after purchasing an additional 6,533 shares during the last quarter. Jane Street Group LLC raised its holdings in Novanta by 1,762.5% in the first quarter. Jane Street Group LLC now owns 61,631 shares of the technology company’s stock worth $7,881,000 after purchasing an additional 58,322 shares in the last quarter. First Trust Advisors LP bought a new position in Novanta in the second quarter worth about $528,000. Finally, Amundi lifted its position in shares of Novanta by 2.0% during the second quarter. Amundi now owns 18,042 shares of the technology company’s stock valued at $2,397,000 after buying an additional 347 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Robert W. Baird set a $194.00 price objective on shares of Novanta in a research report on Friday, August 7th. Zacks Research raised shares of Novanta from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 14th. Wall Street Zen upgraded shares of Novanta from a “hold” rating to a “buy” rating in a research note on Sunday, August 9th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novanta in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Novanta has an average rating of “Buy” and a consensus price target of $194.00.

Novanta Trading Down 0.2%

Novanta stock opened at $145.24 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 stock has a market cap of $5.49 billion, a PE ratio of 93.10 and a beta of 1.68. The stock has a 50-day moving average of $153.52 and a two-hundred day moving average of $143.14. Novanta Inc. has a one year low of $98.27 and a one year high of $176.38.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.06. Novanta had a return on equity of 10.83% and a net margin of 6.00%.The business had revenue of $265.81 million for the quarter, compared to analyst estimates of $262.30 million. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The company’s revenue was up 10.3% on a year-over-year basis. Novanta has set its FY 2026 guidance at 3.680-3.740 EPS and its Q3 2026 guidance at 0.950-1.000 EPS. On average, research analysts anticipate that Novanta Inc. will post 3.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other Novanta news, CEO Matthijs Glastra sold 6,500 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were 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 approximately $4,795,389.93. This represents a 17.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.20% of the company’s stock.

Novanta 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.