Bank of New York Mellon Corp Acquires Shares of 344,710 Novanta Inc. $NOVT

Bank of New York Mellon Corp acquired a new position in shares of Novanta Inc. (NASDAQ:NOVT) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 344,710 shares of the technology company’s stock, valued at approximately $55,926,000.

Several other large investors have also modified their holdings of NOVT. Harbor Investment Advisory LLC acquired a new stake in Novanta during the 2nd quarter worth approximately $54,000. Allworth Financial LP raised its stake 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 acquiring an additional 362 shares in the last quarter. Danske Bank A S purchased a new stake in Novanta in the third quarter valued at approximately $40,000. EverSource Wealth Advisors LLC boosted its stake 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 worth $51,000 after buying an additional 233 shares during the period. Finally, ANTIPODES PARTNERS Ltd purchased a new position in Novanta in the 4th quarter valued at $53,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Insider Activity

In other news, CEO Matthijs Glastra sold 6,500 shares of the 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 directly owned 29,761 shares of the company’s stock, valued at $4,795,389.93. This represents a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by company insiders.

Novanta Trading Up 3.1%

Shares of NOVT stock opened at $143.96 on Thursday. The stock has a market capitalization of $5.44 billion, a P/E ratio of 92.28 and a beta of 1.68. Novanta Inc. has a fifty-two week low of $98.27 and a fifty-two week high of $176.38. The company has a quick ratio of 3.79, a current ratio of 4.57 and a debt-to-equity ratio of 0.12. The stock has a 50-day simple moving average of $152.72 and a 200 day simple moving average of $143.32.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.06. The company had revenue of $265.81 million for the quarter, compared to analysts’ expectations of $262.30 million. Novanta had a return on equity of 10.83% and a net margin of 6.00%.The firm’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 earnings per share. 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, sell-side analysts expect that Novanta Inc. will post 3.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

About Novanta

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.