Allspring Global Investments Holdings LLC Raises Stock Position in Novanta Inc. $NOVT

Allspring Global Investments Holdings LLC lifted its holdings in Novanta Inc. (NASDAQ:NOVT) by 27.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,776,694 shares of the technology company’s stock after buying an additional 377,232 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Novanta were worth $210,307,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Fifth Third Bancorp increased its stake 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 acquiring an additional 88 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Novanta by 22.4% in the 4th quarter. Assetmark Inc. now owns 541 shares of the technology company’s stock valued at $64,000 after purchasing an additional 99 shares during the last quarter. State of Michigan Retirement System boosted its holdings in shares of Novanta by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 8,600 shares of the technology company’s stock worth $1,016,000 after purchasing an additional 100 shares during the period. HB Wealth Management LLC boosted its holdings in shares of Novanta by 9.0% in the 1st quarter. HB Wealth Management LLC now owns 1,989 shares of the technology company’s stock worth $235,000 after purchasing an additional 164 shares during the period. Finally, Sanctuary Advisors LLC increased its position in shares of Novanta by 10.4% during the 1st quarter. Sanctuary Advisors LLC now owns 2,373 shares of the technology company’s stock valued at $280,000 after purchasing an additional 224 shares during the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Novanta Stock Performance

Shares of Novanta stock opened at $149.67 on Friday. 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 stock’s fifty day moving average is $156.30 and its two-hundred day moving average is $139.15. Novanta Inc. has a 52 week low of $98.27 and a 52 week high of $171.85. The company has a market capitalization of $5.65 billion, a PE ratio of 108.46 and a beta of 1.67.

Novanta (NASDAQ:NOVT) last released its earnings results 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. The business had revenue of $257.71 million during the quarter, compared to the consensus estimate of $253.40 million. Novanta had a return on equity of 12.06% and a net margin of 5.35%.The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the company earned $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. As a group, analysts expect that Novanta Inc. will post 3.59 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NOVT. Robert W. Baird set a $180.00 price target on Novanta in a report on Tuesday, June 9th. Wall Street Zen raised shares of Novanta from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Novanta in a research report on Friday, April 17th. 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 presently has an average rating of “Hold” and a consensus price target of $180.00.

Insider Buying and Selling

In related news, CEO Matthijs Glastra sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $150.43, for a total value of $1,128,225.00. Following the transaction, 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 position. The transaction 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. 1.20% of the stock is owned by corporate insiders.

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.