Louisiana State Employees Retirement System Makes New $1.23 Million Investment in Novanta Inc. $NOVT

Louisiana State Employees Retirement System acquired a new stake in shares of Novanta Inc. (NASDAQ:NOVT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,400 shares of the technology company’s stock, valued at approximately $1,228,000.

A number of other hedge funds have also recently modified their holdings of the business. Allworth Financial LP lifted its position in Novanta by 978.4% during 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 during the period. Danske Bank A S bought a new position in shares of Novanta during the third quarter valued at approximately $40,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Novanta by 120.1% during the fourth 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 position in shares of Novanta during the fourth quarter valued at approximately $53,000. Finally, Farther Finance Advisors LLC boosted its position 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. Institutional investors own 98.35% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Matthijs Glastra sold 7,500 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 42,761 shares of the company’s stock, valued at approximately $6,432,537.23. This represents a 14.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is currently owned by insiders.

Novanta Price Performance

NASDAQ:NOVT opened at $161.72 on Friday. The firm has a market cap of $6.11 billion, a P/E ratio of 117.19 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.69 and a current ratio of 3.56. Novanta Inc. has a fifty-two week low of $98.27 and a fifty-two week high of $171.85. The firm has a 50-day simple moving average of $152.79 and a two-hundred day simple moving average of $137.12.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on NOVT. Robert W. Baird set a $180.00 price target on Novanta in a research note on Tuesday, June 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Novanta in a research note on Friday, April 17th. Finally, Wall Street Zen raised Novanta from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Novanta has a consensus rating of “Hold” and an average target price of $180.00.

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.