Sanctuary Advisors LLC Acquires Shares of 3,631 Novanta Inc. $NOVT

Sanctuary Advisors LLC purchased a new stake in shares of Novanta Inc. (NASDAQ:NOVT) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,631 shares of the technology company’s stock, valued at approximately $589,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Novanta in the 2nd quarter worth approximately $786,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Novanta in the 2nd quarter worth about $71,407,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Novanta in the second quarter worth approximately $448,000. Commerce Bank bought a new stake in Novanta in the 2nd quarter worth approximately $887,000. Finally, Evolve Private Wealth LLC bought a new stake in shares of Novanta in the second quarter worth $527,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

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

Novanta Stock Performance

Shares of Novanta stock opened at $142.20 on Friday. The stock’s fifty day moving average is $152.24 and its two-hundred day moving average is $143.33. The company has a quick ratio of 3.79, a current ratio of 4.57 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $5.38 billion, a PE ratio of 91.15 and a beta of 1.68. Novanta Inc. has a 52 week low of $98.27 and a 52 week high of $176.38.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.06. Novanta had a net margin of 6.00% and a return on equity of 10.83%. The company had revenue of $265.81 million during the quarter, compared to analyst estimates of $262.30 million. During the same quarter last year, the business posted $0.76 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. 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, analysts expect that Novanta Inc. will post 3.7 earnings per share for the current year.

Insider Activity at Novanta

In related news, CEO Matthijs Glastra sold 6,500 shares of Novanta stock in a transaction dated 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 sale, the chief executive officer directly owned 29,761 shares in the company, valued at $4,795,389.93. The trade was a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 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.