Summit Creek Advisors LLC Invests $6.35 Million in Novanta Inc. $NOVT

Summit Creek Advisors LLC acquired a new position in shares of Novanta Inc. (NASDAQ:NOVT) in the 2nd quarter, HoldingsChannel reports. The fund acquired 39,140 shares of the technology company’s stock, valued at approximately $6,350,000. Novanta makes up 2.2% of Summit Creek Advisors LLC’s holdings, making the stock its 19th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOVT. GW&K Investment Management LLC raised its holdings in Novanta by 187.3% in the 4th quarter. GW&K Investment Management LLC now owns 736,954 shares of the technology company’s stock worth $87,691,000 after acquiring an additional 480,413 shares during the period. Sculptor Capital LP bought a new stake in Novanta during the fourth quarter valued at about $51,265,000. Norges Bank acquired a new stake in shares of Novanta in the fourth quarter valued at about $50,719,000. Schroder Investment Management Group grew its position in shares of Novanta by 206.1% in the fourth quarter. Schroder Investment Management Group now owns 600,146 shares of the technology company’s stock valued at $72,540,000 after purchasing an additional 404,097 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Novanta by 27.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,776,694 shares of the technology company’s stock valued at $210,307,000 after purchasing an additional 377,232 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Matthijs Glastra sold 6,500 shares of the stock in a transaction on Thursday, July 2nd. The shares were 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 owned 29,761 shares in the company, valued at approximately $4,795,389.93. This represents a 17.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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

NOVT opened at $157.11 on Wednesday. The stock has a market cap of $5.94 billion, a PE ratio of 100.71 and a beta of 1.68. The company has a current ratio of 4.57, a quick ratio of 3.79 and a debt-to-equity ratio of 0.12. Novanta Inc. has a 1 year low of $98.27 and a 1 year high of $176.38. The stock’s 50 day simple moving average is $154.33 and its 200-day simple moving average is $143.01.

Novanta (NASDAQ:NOVT) last issued its earnings results on Wednesday, August 5th. The technology company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.83 by $0.06. The firm had revenue of $265.81 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the business earned $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 forecast that Novanta Inc. will post 3.7 EPS for the current year.

Wall Street Analyst Weigh In

NOVT has been the subject of several research analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Novanta in a research report on Wednesday, July 15th. Zacks Research raised Novanta from a “hold” rating to a “strong-buy” rating in a report on Friday, August 14th. Wall Street Zen raised Novanta from a “hold” rating to a “buy” rating in a research report on Sunday, August 9th. Finally, Robert W. Baird set a $194.00 price target on Novanta in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $194.00.

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.