The Manufacturers Life Insurance Company Invests $3.89 Million in Novanta Inc. $NOVT

The Manufacturers Life Insurance Company purchased a new position in Novanta Inc. (NASDAQ:NOVT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 23,969 shares of the technology company’s stock, valued at approximately $3,889,000.

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

Novanta Price Performance

NOVT opened at $143.67 on Wednesday. The company’s 50-day simple moving average is $151.90 and its two-hundred day simple moving average is $143.35. 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 capitalization of $5.43 billion, a P/E ratio of 92.10 and a beta of 1.68. Novanta Inc. has a 52-week low of $98.27 and a 52-week high of $176.38.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.06. Novanta had a net margin of 6.00% and a return on equity of 10.83%. The firm had revenue of $265.81 million during the quarter, compared to analyst estimates of $262.30 million. During the same period in the previous year, the business posted $0.76 earnings per share. The business’s revenue for the quarter 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. As a group, analysts predict that Novanta Inc. will post 3.7 EPS for the current year.

Insider Transactions at Novanta

In other Novanta news, CEO Matthijs Glastra sold 6,500 shares of Novanta stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $161.13, for a total value of $1,047,345.00. Following the completion of the sale, the chief executive officer owned 29,761 shares of the company’s stock, valued at approximately $4,795,389.93. The trade was a 17.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

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

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.