Sanctuary Advisors LLC Buys New Stake in Novanta Inc. $NOVT

Sanctuary Advisors LLC acquired a new stake in shares of Novanta Inc. (NASDAQ:NOVT) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 3,631 shares of the technology company’s stock, valued at approximately $589,000.

Several other large investors also recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Novanta during the second quarter valued at $786,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Novanta during the 2nd quarter worth approximately $71,407,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Novanta in the second quarter worth about $448,000. Commerce Bank acquired a new position in shares of Novanta during the 2nd quarter worth approximately $887,000. Finally, Evolve Private Wealth LLC acquired a new position in Novanta during the second quarter worth $527,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Novanta Stock Performance

NASDAQ:NOVT opened at $142.20 on Friday. The business’s fifty day moving average price is $152.24 and its 200 day moving average price is $143.33. The firm has a market capitalization of $5.38 billion, a PE ratio of 91.15 and a beta of 1.68. Novanta Inc. has a 12 month low of $98.27 and a 12 month high of $176.38. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.57 and a quick ratio of 3.79.

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

Insider Activity

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

Wall Street Analyst Weigh In

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

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.