Bamco Inc. NY Buys Shares of 850,494 Novanta Inc. $NOVT

Bamco Inc. NY purchased a new stake in shares of Novanta Inc. (NASDAQ:NOVT) during the 2nd quarter, Holdings Channel reports. The fund purchased 850,494 shares of the technology company’s stock, valued at approximately $137,984,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its position in shares of Novanta by 27.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,776,694 shares of the technology company’s stock worth $210,307,000 after acquiring an additional 377,232 shares during the last quarter. Conestoga Capital Advisors LLC lifted its position in Novanta by 3.4% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,458,259 shares of the technology company’s stock valued at $173,518,000 after acquiring an additional 47,540 shares in the last quarter. State Street Corp raised its position in Novanta by 1.0% in the 4th quarter. State Street Corp now owns 1,319,474 shares of the technology company’s stock valued at $157,004,000 after buying an additional 13,603 shares during the last quarter. Wasatch Advisors LP lifted its stake in Novanta by 10.6% during the 2nd quarter. Wasatch Advisors LP now owns 1,100,029 shares of the technology company’s stock valued at $141,827,000 after acquiring an additional 104,985 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Novanta by 3.8% during the 4th quarter. JPMorgan Chase & Co. now owns 781,562 shares of the technology company’s stock valued at $92,998,000 after acquiring an additional 28,451 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Novanta Stock Up 3.1%

Shares of NASDAQ NOVT opened at $143.96 on Thursday. Novanta Inc. has a 52 week low of $98.27 and a 52 week high of $176.38. The company has a market cap of $5.44 billion, a price-to-earnings ratio of 92.28 and a beta of 1.68. 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 firm’s fifty day moving average is $152.72 and its 200 day moving average is $143.32.

Novanta (NASDAQ:NOVT) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.06. The business had revenue of $265.81 million during 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 business’s revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the business posted $0.76 EPS. 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, equities research analysts expect that Novanta Inc. will post 3.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Novanta

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

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.