Osterweis Capital Management Inc. Invests $17.05 Million in Novanta Inc. $NOVT

Osterweis Capital Management Inc. purchased a new stake in Novanta Inc. (NASDAQ:NOVT) in the second quarter, HoldingsChannel reports. The firm purchased 105,125 shares of the technology company’s stock, valued at approximately $17,055,000.

Several other institutional investors have also made changes to their positions in the stock. Fifth Third Bancorp grew its position in Novanta by 12.8% during the first quarter. Fifth Third Bancorp now owns 778 shares of the technology company’s stock worth $92,000 after buying an additional 88 shares in the last quarter. Assetmark Inc. increased its stake in Novanta by 22.4% during the 4th quarter. Assetmark Inc. now owns 541 shares of the technology company’s stock worth $64,000 after acquiring an additional 99 shares during the period. State of Michigan Retirement System raised its holdings in Novanta by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 8,600 shares of the technology company’s stock valued at $1,016,000 after acquiring an additional 100 shares in the last quarter. HB Wealth Management LLC lifted its position in shares of Novanta by 9.0% during the 1st quarter. HB Wealth Management LLC now owns 1,989 shares of the technology company’s stock valued at $235,000 after acquiring an additional 164 shares during the period. Finally, Quantinno Capital Management LP grew its holdings in shares of Novanta by 1.6% during the 1st quarter. Quantinno Capital Management LP now owns 10,746 shares of the technology company’s stock worth $1,269,000 after purchasing an additional 169 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NOVT. Weiss Ratings restated a “hold (c-)” rating on shares of Novanta in a research report on Wednesday, July 15th. Robert W. Baird set a $194.00 price target on Novanta in a research note on Friday, August 7th. Wall Street Zen upgraded Novanta from a “hold” rating to a “buy” rating in a research note on Sunday, August 9th. Finally, Zacks Research raised Novanta from a “hold” rating to a “strong-buy” rating in a report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $194.00.

Novanta Price Performance

Shares of NASDAQ:NOVT opened at $139.48 on Tuesday. 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 52 week low of $98.27 and a 52 week high of $176.38. The firm has a market cap of $5.28 billion, a PE ratio of 89.41 and a beta of 1.68. The firm’s fifty day moving average is $153.17 and its 200-day moving average is $143.22.

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

Insider Buying and Selling at Novanta

In other 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 value of $1,047,345.00. Following the completion of the sale, the chief executive officer owned 29,761 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.20% of the company’s stock.

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.