Wasatch Advisors LP Raises Position in Novanta Inc. $NOVT

Wasatch Advisors LP lifted its position in Novanta Inc. (NASDAQ:NOVT) by 54.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 996,645 shares of the technology company’s stock after buying an additional 351,863 shares during the period. Wasatch Advisors LP owned about 2.79% of Novanta worth $117,714,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Danske Bank A S purchased a new position in Novanta in the 3rd quarter worth approximately $40,000. Allworth Financial LP lifted its position in Novanta by 978.4% in the 4th quarter. Allworth Financial LP now owns 399 shares of the technology company’s stock valued at $47,000 after acquiring an additional 362 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Novanta by 120.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the technology company’s stock valued at $51,000 after purchasing an additional 233 shares during the last quarter. ANTIPODES PARTNERS Ltd purchased a new stake in Novanta during the 4th quarter valued at $53,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Novanta by 1,291.4% in the 4th quarter. Farther Finance Advisors LLC now owns 487 shares of the technology company’s stock worth $58,000 after purchasing an additional 452 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Novanta Stock Down 1.8%

NOVT stock opened at $157.55 on Friday. Novanta Inc. has a fifty-two week low of $98.27 and a fifty-two week high of $171.85. The business’s 50-day moving average is $149.70 and its two-hundred day moving average is $135.61. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.69 and a current ratio of 3.56. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 114.17 and a beta of 1.68.

Novanta (NASDAQ:NOVT) last released its quarterly earnings results on Monday, May 11th. The technology company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 previous year, the company posted $0.74 EPS. The business’s quarterly 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. As a group, analysts forecast that Novanta Inc. will post 3.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Wall Street Zen raised Novanta from a “hold” rating to a “buy” rating in a report on Saturday. Robert W. Baird set a $180.00 price objective on Novanta in a report on Tuesday, June 9th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Novanta in a research report on Friday, April 17th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Novanta has a consensus rating of “Hold” and an average price target of $180.00.

Insider Buying and Selling

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 value of $1,128,225.00. Following the completion of the sale, the chief executive officer directly owned 42,761 shares in the company, valued at $6,432,537.23. This represents a 14.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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.