Telemark Asset Management LLC Has $44.62 Million Stake in Novanta Inc. $NOVT

Telemark Asset Management LLC lifted its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 50.0% in the 4th quarter, Holdings Channel reports. The fund owned 375,000 shares of the technology company’s stock after acquiring an additional 125,000 shares during the quarter. Novanta accounts for approximately 4.5% of Telemark Asset Management LLC’s investment portfolio, making the stock its 5th biggest position. Telemark Asset Management LLC’s holdings in Novanta were worth $44,621,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Allworth Financial LP increased its position in shares of Novanta by 978.4% during 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 in the last quarter. Danske Bank A S bought a new stake in shares of Novanta during the third quarter worth $40,000. EverSource Wealth Advisors LLC increased its position 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 worth $51,000 after acquiring an additional 233 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in shares of Novanta during the fourth quarter worth $53,000. Finally, Farther Finance Advisors LLC increased its position in shares of Novanta by 1,291.4% during the fourth quarter. Farther Finance Advisors LLC now owns 487 shares of the technology company’s stock worth $58,000 after acquiring an additional 452 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NOVT. Weiss Ratings reissued a “hold (c-)” rating on shares of Novanta in a research report on Friday, April 17th. Wall Street Zen downgraded shares of Novanta from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, Robert W. Baird increased their price objective on shares of Novanta from $144.00 to $173.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $173.00.

Insiders Place Their Bets

In related news, CFO Robert Buckley sold 9,957 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $116.77, for a total value of $1,162,678.89. Following the completion of the transaction, the chief financial officer owned 96,616 shares of the company’s stock, valued at approximately $11,281,850.32. This trade represents a 9.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthijs Glastra sold 7,500 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $150.43, for a total transaction of $1,128,225.00. Following the completion of the transaction, the chief executive officer directly owned 42,761 shares of the company’s stock, valued at approximately $6,432,537.23. This trade represents a 14.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 23,957 shares of company stock valued at $3,136,229. 1.20% of the stock is owned by insiders.

Novanta Stock Down 5.3%

Novanta stock opened at $156.29 on Friday. The company has a market cap of $5.57 billion, a P/E ratio of 113.25 and a beta of 1.68. Novanta Inc. has a 1-year low of $98.27 and a 1-year high of $171.85. The company has a fifty day simple moving average of $138.68 and a 200 day simple moving average of $130.63. 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 (NASDAQ:NOVT) last released 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 during 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%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm earned $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. Research analysts anticipate that Novanta Inc. will post 3.59 earnings per share for the current fiscal year.

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.