Hsbc Holdings PLC Trims Stock Position in Novanta Inc. $NOVT

Hsbc Holdings PLC cut its holdings in Novanta Inc. (NASDAQ:NOVT) by 39.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 112,081 shares of the technology company’s stock after selling 73,074 shares during the period. Hsbc Holdings PLC owned 0.31% of Novanta worth $13,077,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in shares of Novanta by 75.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,399,462 shares of the technology company’s stock worth $155,536,000 after purchasing an additional 604,055 shares during the last quarter. GW&K Investment Management LLC lifted its position in Novanta by 187.3% in the fourth quarter. GW&K Investment Management LLC now owns 736,954 shares of the technology company’s stock valued at $87,691,000 after buying an additional 480,413 shares during the last quarter. Sculptor Capital LP purchased a new position in Novanta during the fourth quarter worth about $51,265,000. Norges Bank purchased a new position in Novanta during the fourth quarter worth about $50,719,000. Finally, Schroder Investment Management Group increased its position in shares of Novanta by 206.1% during the fourth quarter. Schroder Investment Management Group now owns 600,146 shares of the technology company’s stock valued at $72,540,000 after acquiring an additional 404,097 shares during the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Novanta Trading Down 0.4%

Shares of NOVT stock opened at $145.25 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.69 and a current ratio of 3.56. The stock has a market capitalization of $5.48 billion, a P/E ratio of 105.25 and a beta of 1.67. The company has a 50 day moving average price of $156.11 and a 200 day moving average price of $139.87. Novanta Inc. has a fifty-two week low of $98.27 and a fifty-two week high of $171.85.

Novanta (NASDAQ:NOVT) last announced 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. Novanta had a net margin of 5.35% and a return on equity of 12.06%. The firm had revenue of $257.71 million for the quarter, compared to the consensus estimate of $253.40 million. During the same period in the prior year, the firm earned $0.74 EPS. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q2 2026 guidance at 0.810-0.860 EPS. Equities research analysts predict that Novanta Inc. will post 3.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NOVT. Wall Street Zen raised shares of Novanta from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Robert W. Baird set a $180.00 price objective on shares of Novanta in a research report on Tuesday, June 9th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Novanta in a report on Wednesday, July 15th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $180.00.

Insider Activity

In related news, CEO Matthijs Glastra sold 6,500 shares of Novanta stock in a transaction 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 trade represents a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.20% of the company’s stock.

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.