Wasatch Advisors LP Has $123.30 Million Stock Holdings in Novanta Inc. $NOVT

Wasatch Advisors LP decreased its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 23.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 759,992 shares of the technology company’s stock after selling 236,653 shares during the period. Wasatch Advisors LP’s holdings in Novanta were worth $123,301,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its stake in shares of Novanta by 12.8% in the 1st quarter. Fifth Third Bancorp now owns 778 shares of the technology company’s stock valued at $92,000 after purchasing an additional 88 shares during the period. Assetmark Inc. lifted its position in shares of Novanta by 22.4% during the 4th quarter. Assetmark Inc. now owns 541 shares of the technology company’s stock worth $64,000 after buying an additional 99 shares during the period. State of Michigan Retirement System boosted its stake in Novanta by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 8,600 shares of the technology company’s stock valued at $1,016,000 after buying an additional 100 shares in the last quarter. HB Wealth Management LLC boosted its stake in Novanta by 9.0% in the 1st quarter. HB Wealth Management LLC now owns 1,989 shares of the technology company’s stock valued at $235,000 after buying an additional 164 shares in the last quarter. Finally, Quantinno Capital Management LP grew its position in Novanta by 1.6% in the first quarter. Quantinno Capital Management LP now owns 10,746 shares of the technology company’s stock valued at $1,269,000 after acquiring an additional 169 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Novanta Stock Performance

NASDAQ:NOVT opened at $167.71 on Wednesday. The stock has a market capitalization of $6.34 billion, a P/E ratio of 107.51 and a beta of 1.68. The company has a current ratio of 4.57, a quick ratio of 3.79 and a debt-to-equity ratio of 0.12. Novanta Inc. has a 1 year low of $98.27 and a 1 year high of $176.38. The firm has a 50 day moving average of $154.07 and a 200-day moving average of $142.06.

Novanta (NASDAQ:NOVT) last released its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.06. Novanta had a return on equity of 10.83% and a net margin of 6.00%.The business had revenue of $265.81 million for the quarter, compared to analyst estimates of $262.30 million. During the same period in the prior year, the company earned $0.76 EPS. Novanta’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, sell-side analysts anticipate that Novanta Inc. will post 3.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NOVT. Weiss Ratings reiterated a “hold (c-)” rating on shares of Novanta in a research note on Wednesday, July 15th. Wall Street Zen upgraded shares of Novanta from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Robert W. Baird set a $194.00 target price on shares of Novanta in a report on Friday. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $194.00.

Insider Activity at Novanta

In other news, CEO Matthijs Glastra sold 6,500 shares of the firm’s 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 sale, 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 sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.20% 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.