Intech Investment Management LLC Reduces Position in Novanta Inc. $NOVT

Intech Investment Management LLC trimmed its holdings in Novanta Inc. (NASDAQ:NOVT) by 18.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,985 shares of the technology company’s stock after selling 3,457 shares during the period. Intech Investment Management LLC’s holdings in Novanta were worth $1,783,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Danske Bank A S bought a new position in Novanta during the 3rd quarter valued at about $40,000. Allworth Financial LP grew its stake in shares of Novanta by 978.4% in the fourth quarter. Allworth Financial LP now owns 399 shares of the technology company’s stock worth $47,000 after acquiring an additional 362 shares during the period. 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. ANTIPODES PARTNERS Ltd purchased a new position in shares of Novanta during the fourth quarter valued at approximately $53,000. Finally, Farther Finance Advisors LLC lifted its position in Novanta by 1,291.4% during the fourth quarter. Farther Finance Advisors LLC now owns 487 shares of the technology company’s stock valued at $58,000 after purchasing an additional 452 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insider Buying and Selling at Novanta

In other news, CFO Robert Buckley sold 9,957 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $116.77, for a total transaction of $1,162,678.89. Following the completion of the sale, the chief financial officer owned 96,616 shares of the company’s stock, valued at $11,281,850.32. The trade was a 9.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Matthijs Glastra sold 7,500 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $150.43, for a total value of $1,128,225.00. Following the completion of the sale, the chief executive officer owned 42,761 shares of the company’s stock, valued at $6,432,537.23. This trade represents a 14.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 23,957 shares of company stock worth $3,136,229 in the last quarter. Corporate insiders own 1.20% of the company’s stock.

Novanta Price Performance

NASDAQ NOVT opened at $165.10 on Friday. Novanta Inc. has a 52 week low of $98.27 and a 52 week high of $171.85. The firm has a market capitalization of $5.88 billion, a P/E ratio of 119.64 and a beta of 1.68. The company has a quick ratio of 2.69, a current ratio of 3.56 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $137.91 and a 200-day moving average price of $130.45.

Novanta (NASDAQ:NOVT) last posted its quarterly earnings data on Monday, May 11th. The technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. The company 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 quarter last year, the firm posted $0.74 earnings per share. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q2 2026 guidance at 0.810-0.860 EPS. Equities research analysts anticipate that Novanta Inc. will post 3.59 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NOVT shares. Weiss Ratings restated a “hold (c-)” rating on shares of Novanta in a report on Friday, April 17th. Wall Street Zen lowered shares of Novanta from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, Robert W. Baird increased their price target on Novanta from $144.00 to $173.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $173.00.

About Novanta

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.