10,400 Shares in Novanta Inc. $NOVT Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in Novanta Inc. (NASDAQ:NOVT) in the first quarter, HoldingsChannel reports. The fund bought 10,400 shares of the technology company’s stock, valued at approximately $1,228,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assetmark Inc. boosted its holdings in shares of Novanta by 22.4% during the 4th quarter. Assetmark Inc. now owns 541 shares of the technology company’s stock valued at $64,000 after acquiring an additional 99 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Novanta by 120.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the technology company’s stock valued at $51,000 after purchasing an additional 233 shares during the last quarter. Van ECK Associates Corp lifted its position in Novanta by 17.2% during the third quarter. Van ECK Associates Corp now owns 1,627 shares of the technology company’s stock valued at $163,000 after purchasing an additional 239 shares during the period. Amundi lifted its position in Novanta by 1.4% during the third quarter. Amundi now owns 18,287 shares of the technology company’s stock valued at $1,908,000 after purchasing an additional 245 shares during the period. Finally, Nicolet Advisory Services LLC boosted its holdings in Novanta by 7.1% in the third quarter. Nicolet Advisory Services LLC now owns 4,046 shares of the technology company’s stock worth $409,000 after purchasing an additional 269 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Insider Buying and Selling

In other Novanta news, CEO Matthijs Glastra sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $150.43, for a total transaction of $1,128,225.00. Following the completion of the sale, the chief executive officer directly owned 42,761 shares of the company’s stock, valued at approximately $6,432,537.23. This represents a 14.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.20% of the company’s stock.

Novanta Stock Performance

Novanta stock opened at $161.72 on Friday. The business has a 50-day simple moving average of $152.79 and a two-hundred day simple moving average of $137.12. The company has a market cap of $6.11 billion, a P/E ratio of 117.19 and a beta of 1.67. Novanta Inc. has a 52-week low of $98.27 and a 52-week high of $171.85. The company has a quick ratio of 2.69, a current ratio of 3.56 and a debt-to-equity ratio of 0.15.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings data on Monday, May 11th. The technology company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.03. Novanta had a net margin of 5.35% and a return on equity of 12.06%. The firm had revenue of $257.71 million for the quarter, compared to analysts’ expectations of $253.40 million. During the same quarter in the prior year, the business earned $0.74 EPS. The business’s quarterly revenue was up 10.4% on a year-over-year basis. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q2 2026 guidance at 0.810-0.860 EPS. Analysts predict that Novanta Inc. will post 3.59 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novanta in a research report on Friday, April 17th. Robert W. Baird set a $180.00 price target on Novanta in a report on Tuesday, June 9th. Finally, Wall Street Zen upgraded Novanta from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Novanta has a consensus rating of “Hold” and an average price target of $180.00.

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.