Wasatch Advisors LP Buys 351,863 Shares of Novanta Inc. $NOVT

Wasatch Advisors LP increased its position in Novanta Inc. (NASDAQ:NOVT) by 54.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 996,645 shares of the technology company’s stock after acquiring an additional 351,863 shares during the quarter. Wasatch Advisors LP’s holdings in Novanta were worth $117,714,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Summit Creek Advisors LLC increased its stake in shares of Novanta by 47.5% in the fourth quarter. Summit Creek Advisors LLC now owns 73,673 shares of the technology company’s stock worth $8,766,000 after purchasing an additional 23,712 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Novanta by 75.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,399,462 shares of the technology company’s stock valued at $155,536,000 after buying an additional 604,055 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Novanta by 7.8% during the 4th quarter. Legal & General Group Plc now owns 207,053 shares of the technology company’s stock valued at $24,637,000 after buying an additional 14,969 shares in the last quarter. Truist Financial Corp boosted its holdings in Novanta by 337.2% in the 4th quarter. Truist Financial Corp now owns 9,963 shares of the technology company’s stock worth $1,185,000 after buying an additional 7,684 shares during the period. Finally, Clearline Capital LP boosted its holdings in Novanta by 73.7% in the 3rd quarter. Clearline Capital LP now owns 234,372 shares of the technology company’s stock worth $23,472,000 after buying an additional 99,406 shares during the period. Institutional investors own 98.35% of the company’s stock.

Novanta Stock Down 1.8%

Shares of NASDAQ:NOVT opened at $157.55 on Friday. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 114.17 and a beta of 1.68. Novanta Inc. has a 12 month low of $98.27 and a 12 month high of $171.85. The company has a current ratio of 3.56, a quick ratio of 2.69 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $149.70 and a 200 day moving average price of $135.61.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings results on Monday, May 11th. The technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. Novanta had a return on equity of 12.06% and a net margin of 5.35%.The company had revenue of $257.71 million during the quarter, compared to the consensus estimate of $253.40 million. During the same period last year, the company earned $0.74 earnings per share. Novanta’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. As a group, equities research analysts predict that Novanta Inc. will post 3.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NOVT has been the subject of several research analyst reports. Wall Street Zen upgraded Novanta from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reissued a “hold (c-)” rating on shares of Novanta in a report on Friday, April 17th. Finally, Robert W. Baird set a $180.00 price target on Novanta in a research note on Tuesday, June 9th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $180.00.

Insiders Place Their Bets

In other Novanta news, CEO Matthijs Glastra sold 7,500 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $150.43, for a total value of $1,128,225.00. Following the completion of the sale, the chief executive officer directly owned 42,761 shares of the company’s stock, valued at $6,432,537.23. The trade was a 14.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by insiders.

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.