Wellington Management Group LLP Increases Stock Position in Novanta Inc. $NOVT

Wellington Management Group LLP grew its holdings in Novanta Inc. (NASDAQ:NOVT) by 10.5% during the 2nd quarter, Holdings Channel reports. The firm owned 460,896 shares of the technology company’s stock after buying an additional 43,659 shares during the period. Wellington Management Group LLP’s holdings in Novanta were worth $74,776,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Bamco Inc. NY acquired a new position in shares of Novanta during the 2nd quarter worth approximately $137,984,000. William Blair Investment Management LLC acquired a new stake in Novanta during the 2nd quarter valued at $124,254,000. GW&K Investment Management LLC grew its holdings in Novanta by 187.3% during the 4th quarter. GW&K Investment Management LLC now owns 736,954 shares of the technology company’s stock valued at $87,691,000 after buying an additional 480,413 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Novanta during the second quarter worth $71,407,000. Finally, Sculptor Capital LP acquired a new position in shares of Novanta in the fourth quarter worth $51,265,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Novanta Stock Up 0.6%

NOVT stock opened at $144.52 on Thursday. The stock has a market capitalization of $5.47 billion, a P/E ratio of 92.64 and a beta of 1.67. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.79 and a current ratio of 4.57. Novanta Inc. has a one year low of $98.27 and a one year high of $176.38. The company has a 50 day moving average price of $151.75 and a two-hundred day moving average price of $143.39.

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

Analysts Set New Price Targets

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