Summit Creek Advisors LLC Boosts Position in Novanta Inc. $NOVT

Summit Creek Advisors LLC boosted its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 47.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 73,673 shares of the technology company’s stock after purchasing an additional 23,712 shares during the quarter. Summit Creek Advisors LLC’s holdings in Novanta were worth $8,766,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd purchased a new position in Novanta during the 3rd quarter worth approximately $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Novanta during the 3rd quarter worth approximately $40,000. Danske Bank A S purchased a new position in Novanta during the 3rd quarter worth approximately $40,000. Allworth Financial LP raised its position in Novanta by 978.4% during the 4th quarter. Allworth Financial LP now owns 399 shares of the technology company’s stock worth $47,000 after buying an additional 362 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd purchased a new position in Novanta during the 4th quarter worth approximately $53,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Novanta Price Performance

NASDAQ:NOVT opened at $153.60 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.56 and a quick ratio of 2.69. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 111.31 and a beta of 1.62. The company has a 50 day moving average price of $128.54 and a 200-day moving average price of $126.85. Novanta Inc. has a 1-year low of $98.27 and a 1-year high of $165.56.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on NOVT. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novanta in a report on Friday, April 17th. Robert W. Baird lifted their target price on shares of Novanta from $144.00 to $173.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen lowered shares of Novanta from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Novanta currently has a consensus rating of “Hold” and an average price target of $173.00.

Insiders Place Their Bets

In other Novanta news, 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 transaction of $1,162,678.89. Following the completion of the transaction, the chief financial officer directly owned 96,616 shares in the company, valued at approximately $11,281,850.32. This represents a 9.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the chief executive officer 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 25,380 shares of company stock valued at $3,336,701 over the last 90 days. 1.20% of the stock is currently 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.