Mitsubishi UFJ Asset Management Co. Ltd. Invests $788,000 in Novanta Inc. $NOVT

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Novanta Inc. (NASDAQ:NOVT) in the second quarter, Holdings Channel.com reports. The institutional investor bought 4,855 shares of the technology company’s stock, valued at approximately $788,000.

A number of other large investors have also recently bought and sold shares of NOVT. OneDigital Investment Advisors LLC acquired a new position in Novanta in the 2nd quarter worth approximately $947,000. Global Retirement Partners LLC acquired a new stake in Novanta during the 2nd quarter valued at approximately $446,000. Bank of New York Mellon Corp purchased a new stake in shares of Novanta in the 2nd quarter valued at $55,926,000. State of Wyoming purchased a new stake in shares of Novanta in the 2nd quarter valued at $731,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Novanta in the second quarter worth $5,797,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insiders Place Their Bets

In other Novanta news, CEO Matthijs Glastra sold 6,500 shares of Novanta 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 of the company’s stock, valued at approximately $4,795,389.93. The trade was a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.20% of the company’s stock.

Novanta Price Performance

Shares of NASDAQ NOVT opened at $145.24 on Friday. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 93.10 and a beta of 1.68. Novanta Inc. has a 12 month low of $98.27 and a 12 month high of $176.38. The firm’s 50 day simple moving average is $153.52 and its 200-day simple moving average is $143.14. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.57 and a quick ratio of 3.79.

Novanta (NASDAQ:NOVT) last posted its earnings results on Wednesday, August 5th. The technology company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.06. Novanta had a net margin of 6.00% and a return on equity of 10.83%. The firm had revenue of $265.81 million during the quarter, compared to analyst estimates of $262.30 million. During the same period in the previous year, the firm earned $0.76 EPS. The business’s quarterly revenue was up 10.3% on a year-over-year basis. Novanta has set its FY 2026 guidance at 3.680-3.740 EPS and its Q3 2026 guidance at 0.950-1.000 EPS. Analysts expect that Novanta Inc. will post 3.7 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Robert W. Baird set a $194.00 target price on shares of Novanta in a report on Friday, August 7th. Wall Street Zen raised shares of Novanta from a “hold” rating to a “buy” rating in a report on Sunday, August 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novanta in a research report on Wednesday, July 15th. Finally, Zacks Research upgraded Novanta from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 14th. One 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. Based on data from MarketBeat.com, Novanta currently has an average rating of “Buy” and an average price target of $194.00.

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.