Callan Family Office LLC Takes $727,000 Position in Novanta Inc. $NOVT

Callan Family Office LLC bought a new stake in shares of Novanta Inc. (NASDAQ:NOVT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,482 shares of the technology company’s stock, valued at approximately $727,000.

Other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in shares of Novanta by 78.9% in the first quarter. AQR Capital Management LLC now owns 4,231 shares of the technology company’s stock worth $537,000 after acquiring an additional 1,866 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Novanta by 1.6% during the first quarter. Goldman Sachs Group Inc. now owns 419,037 shares of the technology company’s stock worth $53,582,000 after acquiring an additional 6,533 shares during the last quarter. Jane Street Group LLC grew its stake in Novanta by 1,762.5% during the first quarter. Jane Street Group LLC now owns 61,631 shares of the technology company’s stock valued at $7,881,000 after acquiring an additional 58,322 shares in the last quarter. First Trust Advisors LP bought a new stake in Novanta in the 2nd quarter valued at $528,000. Finally, Amundi lifted its stake in Novanta by 2.0% in the 2nd quarter. Amundi now owns 18,042 shares of the technology company’s stock worth $2,397,000 after purchasing an additional 347 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Novanta Stock Down 4.0%

Shares of NASDAQ:NOVT opened at $139.48 on Tuesday. The company has a market cap of $5.28 billion, a price-to-earnings ratio of 89.41 and a beta of 1.68. Novanta Inc. has a 12 month low of $98.27 and a 12 month high of $176.38. The company has a current ratio of 4.57, a quick ratio of 3.79 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average price of $153.17 and a 200 day moving average price of $143.22.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.06. The business had revenue of $265.81 million for the quarter, compared to the consensus estimate of $262.30 million. Novanta had a return on equity of 10.83% and a net margin of 6.00%.The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted $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. As a group, equities research analysts predict that Novanta Inc. will post 3.7 earnings per share for the current year.

Insider Buying and Selling at Novanta

In related news, CEO Matthijs Glastra sold 6,500 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $161.13, for a total transaction of $1,047,345.00. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Zacks Research upgraded Novanta from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 14th. Wall Street Zen upgraded Novanta from a “hold” rating to a “buy” rating in a report on Sunday, August 9th. Robert W. Baird set a $194.00 price objective on Novanta in a research note on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novanta in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $194.00.

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.