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Connor Clark & Lunn Investment Management Ltd. acquired a new position in Novanta Inc. (NASDAQ:NOVT – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,845 shares of the technology company’s stock, valued at approximately $786,000.Several other large investors have also modified their holdings of NOVT. Harbor Investment Advisory LLC bought a new stake in Novanta during the second quarter valued at about $54,000. Allworth Financial LP bought a new position in shares of Novanta in the second quarter worth about $59,000. Danske Bank A S acquired a new position in shares of Novanta during the 3rd quarter worth about $40,000. EverSource Wealth Advisors LLC lifted its position in shares of Novanta by 120.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the technology company’s stock worth $51,000 after purchasing an additional 233 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new position in shares of Novanta during the 4th quarter worth about $53,000. 98.35% of the stock is owned by institutional investors.
Analyst Ratings Changes NOVT has been the topic of a number of research analyst reports. Robert W. Baird set a $194.00 target price on Novanta in a report on Friday, August 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Novanta in a report on Wednesday, July 15th. Zacks Research raised Novanta from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 14th. Finally, Wall Street Zen upgraded shares of Novanta from a “hold” rating to a “buy” rating in a research note on Sunday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Novanta currently has an average rating of “Buy” and an average price target of $194.00.
Check Out Our Latest Analysis on Novanta Insiders Place Their Bets In other news, CEO Matthijs Glastra sold 6,500 shares of the stock in a transaction 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 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 SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by corporate insiders.
Novanta Trading Up 2.8% Novanta stock opened at $146.22 on Tuesday. The business has a 50 day moving average price of $152.05 and a two-hundred day moving average price of $143.34. 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 market cap of $5.53 billion, a price-to-earnings ratio of 93.73 and a beta of 1.68. Novanta Inc. has a 12 month low of $98.27 and a 12 month high of $176.38.
Novanta (NASDAQ:NOVT – Get Free Report) last announced 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 company had revenue of $265.81 million for the quarter, compared to analyst estimates of $262.30 million. Novanta had a return on equity of 10.83% and a net margin of 6.00%.Novanta’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $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. As a group, equities analysts forecast that Novanta Inc. will post 3.7 EPS for the current year.
About Novanta (Free Report)
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.
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