Oppenheimer Asset Management Inc. Invests $5.80 Million in Novanta Inc. $NOVT

Oppenheimer Asset Management Inc. bought a new stake in Novanta Inc. (NASDAQ:NOVT) in the second quarter, Holdings Channel.com reports. The firm bought 35,729 shares of the technology company’s stock, valued at approximately $5,797,000.

A number of other hedge funds have also modified their holdings of the business. Allspring Global Investments Holdings LLC raised its holdings in Novanta by 27.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,776,694 shares of the technology company’s stock valued at $210,307,000 after acquiring an additional 377,232 shares during the last quarter. Conestoga Capital Advisors LLC lifted its stake in Novanta by 3.4% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,458,259 shares of the technology company’s stock worth $173,518,000 after purchasing an additional 47,540 shares in the last quarter. State Street Corp boosted its holdings in shares of Novanta by 1.0% during the 4th quarter. State Street Corp now owns 1,319,474 shares of the technology company’s stock worth $157,004,000 after purchasing an additional 13,603 shares during the last quarter. Wasatch Advisors LP boosted its holdings in shares of Novanta by 10.6% during the 2nd quarter. Wasatch Advisors LP now owns 1,100,029 shares of the technology company’s stock worth $141,827,000 after purchasing an additional 104,985 shares during the last quarter. Finally, Bamco Inc. NY grew its position in shares of Novanta by 49.4% in the fourth quarter. Bamco Inc. NY now owns 936,962 shares of the technology company’s stock valued at $111,489,000 after purchasing an additional 309,869 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Matthijs Glastra sold 6,500 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 29,761 shares in the company, 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 legal filing with the SEC, 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.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NOVT. Robert W. Baird set a $194.00 price target on Novanta in a report on Friday, August 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Novanta in a report on Wednesday, July 15th. Finally, Wall Street Zen upgraded Novanta from a “hold” rating to a “buy” rating in a report on Sunday, August 9th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Novanta has a consensus rating of “Hold” and an average target price of $194.00.

Novanta Stock Performance

NASDAQ:NOVT opened at $166.58 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.57 and a quick ratio of 3.79. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 106.78 and a beta of 1.68. The company’s 50-day moving average is $154.32 and its two-hundred day moving average is $142.64. Novanta Inc. has a 1-year low of $98.27 and a 1-year high of $176.38.

Novanta (NASDAQ:NOVT) last posted its quarterly 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. The business had revenue of $265.81 million during the quarter, compared to analysts’ expectations of $262.30 million. Novanta had a net margin of 6.00% and a return on equity of 10.83%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.76 EPS. 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 forecast that Novanta Inc. will post 3.7 EPS for the current year.

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.