Diversify Wealth Management LLC Invests $1.84 Million in Novanta Inc. $NOVT

Diversify Wealth Management LLC bought a new position in shares of Novanta Inc. (NASDAQ:NOVT) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 15,217 shares of the technology company’s stock, valued at approximately $1,840,000.

Several other hedge funds have also recently bought and sold shares of NOVT. Summit Creek Advisors LLC increased its position 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 acquiring an additional 23,712 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Novanta by 75.9% in 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 acquiring an additional 604,055 shares during the period. Legal & General Group Plc lifted its holdings 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 acquiring an additional 14,969 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Novanta by 337.2% during the 4th quarter. Truist Financial Corp now owns 9,963 shares of the technology company’s stock valued at $1,185,000 after acquiring an additional 7,684 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Novanta by 484.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 48,336 shares of the technology company’s stock worth $5,752,000 after purchasing an additional 40,071 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Novanta Stock Down 2.1%

Shares of NASDAQ:NOVT opened at $146.62 on Wednesday. The firm has a market cap of $5.54 billion, a PE ratio of 106.25 and a beta of 1.67. The company has a fifty day simple moving average of $155.88 and a 200 day simple moving average of $138.79. The company has a current ratio of 3.56, a quick ratio of 2.69 and a debt-to-equity ratio of 0.15. Novanta Inc. has a 12-month low of $98.27 and a 12-month high of $171.85.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings data on Monday, May 11th. The technology company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. The firm had revenue of $257.71 million for the quarter, compared to the consensus estimate of $253.40 million. Novanta had a net margin of 5.35% and a return on equity of 12.06%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 EPS. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q2 2026 guidance at 0.810-0.860 EPS. On average, equities research analysts anticipate that Novanta Inc. will post 3.59 EPS for the current fiscal year.

Insider Transactions at Novanta

In other Novanta news, CEO Matthijs Glastra sold 6,500 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 29,761 shares in the company, valued at $4,795,389.93. This represents a 17.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,500 shares of company stock worth $3,020,895 in the last 90 days. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on NOVT shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Novanta in a report on Friday, April 17th. Robert W. Baird set a $180.00 price objective on Novanta in a research note on Tuesday, June 9th. Finally, Wall Street Zen raised Novanta from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $180.00.

Novanta 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.