Handelsbanken Fonder AB Buys 77,868 Shares of Novanta Inc. $NOVT

Handelsbanken Fonder AB boosted its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 568.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 91,560 shares of the technology company’s stock after buying an additional 77,868 shares during the period. Handelsbanken Fonder AB’s holdings in Novanta were worth $9,170,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Arizona State Retirement System boosted its holdings in shares of Novanta by 1.6% during the 3rd quarter. Arizona State Retirement System now owns 10,632 shares of the technology company’s stock valued at $1,065,000 after purchasing an additional 171 shares during the last quarter. Huntington National Bank lifted its position in shares of Novanta by 65.7% in the second quarter. Huntington National Bank now owns 492 shares of the technology company’s stock worth $63,000 after buying an additional 195 shares in the last quarter. M&T Bank Corp boosted its stake in Novanta by 6.6% during the second quarter. M&T Bank Corp now owns 3,785 shares of the technology company’s stock valued at $488,000 after buying an additional 236 shares during the last quarter. Retirement Systems of Alabama grew its holdings in Novanta by 0.6% during the 2nd quarter. Retirement Systems of Alabama now owns 43,964 shares of the technology company’s stock valued at $5,668,000 after buying an additional 244 shares in the last quarter. Finally, Atria Investments Inc grew its holdings in Novanta by 11.2% during the 2nd quarter. Atria Investments Inc now owns 3,031 shares of the technology company’s stock valued at $391,000 after buying an additional 305 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Novanta Stock Performance

Shares of NASDAQ:NOVT opened at $134.43 on Monday. The company has a current ratio of 3.69, a quick ratio of 2.80 and a debt-to-equity ratio of 0.16. Novanta Inc. has a 12 month low of $98.27 and a 12 month high of $149.95. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 92.08 and a beta of 1.61. The firm’s 50-day moving average is $133.34 and its 200 day moving average is $120.35.

Novanta (NASDAQ:NOVT) last announced its earnings results on Monday, February 23rd. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. The business had revenue of $258.35 million during the quarter, compared to analyst estimates of $260.72 million. Novanta had a return on equity of 13.12% and a net margin of 5.49%.During the same quarter in the previous year, the business earned $0.76 earnings per share. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q1 2026 guidance at 0.750-0.800 EPS. Research analysts predict that Novanta Inc. will post 3.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Zacks Research raised Novanta from a “strong sell” rating to a “hold” rating in a report on Friday, January 16th. Weiss Ratings raised shares of Novanta from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, January 20th. Finally, Robert W. Baird set a $150.00 price objective on shares of Novanta in a research report on Wednesday. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $150.00.

Insiders Place Their Bets

In other news, CFO Robert Buckley sold 1,423 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $140.88, for a total transaction of $200,472.24. Following the transaction, the chief financial officer owned 93,814 shares of the company’s stock, valued at approximately $13,216,516.32. This represents a 1.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthijs Glastra sold 7,500 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $145.04, for a total transaction of $1,087,800.00. Following the transaction, the chief executive officer owned 57,367 shares in the company, valued at approximately $8,320,509.68. The trade was a 11.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 24,346 shares of company stock valued at $3,382,737. 1.20% of the stock is owned by company insiders.

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.