Novanta (NASDAQ:NOVT) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Novanta (NASDAQ:NOVT) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

NOVT has been the subject of several other research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Novanta in a report on Wednesday, July 15th. Robert W. Baird set a $180.00 target price on Novanta in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $180.00.

Novanta Stock Up 2.6%

Novanta stock opened at $142.55 on Friday. The firm has a 50 day simple moving average of $154.33 and a 200 day simple moving average of $140.67. The company has a current ratio of 3.56, a quick ratio of 2.69 and a debt-to-equity ratio of 0.15. Novanta has a 1-year low of $98.27 and a 1-year high of $171.85. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 103.30 and a beta of 1.67.

Novanta (NASDAQ:NOVT) last announced its earnings results on Monday, May 11th. The technology company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. The business had revenue of $257.71 million for the quarter, compared to the consensus estimate of $253.40 million. Novanta had a net margin of 5.35% and a return on equity of 12.06%. Novanta’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm posted $0.74 earnings per share. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q2 2026 guidance at 0.810-0.860 EPS. On average, analysts predict that Novanta will post 3.59 earnings per share for the current year.

Insider Activity

In other news, CEO Matthijs Glastra sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $150.43, for a total value of $1,128,225.00. Following the sale, the chief executive officer directly owned 42,761 shares of the company’s stock, valued at $6,432,537.23. The trade was a 14.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Danske Bank A S bought a new stake in Novanta in the third quarter worth $40,000. Allworth Financial LP grew its stake in shares of Novanta by 978.4% in the fourth quarter. Allworth Financial LP now owns 399 shares of the technology company’s stock worth $47,000 after acquiring an additional 362 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Novanta by 120.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the technology company’s stock valued at $51,000 after acquiring an additional 233 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new position in shares of Novanta during the fourth quarter valued at $53,000. Finally, Harbor Investment Advisory LLC purchased a new position in shares of Novanta in the 2nd quarter worth about $54,000. Institutional investors own 98.35% of the company’s stock.

About Novanta

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.