Novanta (NASDAQ:NOVT – Get Free Report) had its price objective boosted by stock analysts at Robert W. Baird from $144.00 to $173.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s target price would suggest a potential upside of 8.68% from the company’s previous close.
Other analysts have also recently issued reports about the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Novanta in a research note on Friday, April 17th. Wall Street Zen lowered shares of Novanta from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, Zacks Research upgraded shares of Novanta from a “strong sell” rating to a “hold” rating in a research report on Friday, January 16th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $173.00.
Check Out Our Latest Research Report on NOVT
Novanta Stock Performance
Novanta (NASDAQ:NOVT – Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. The firm had revenue of $257.71 million during the quarter, compared to analysts’ expectations of $253.40 million. Novanta had a net margin of 5.35% and a return on equity of 13.11%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the company 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. Equities analysts anticipate that Novanta will post 3.54 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CFO Robert Buckley sold 9,957 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $116.77, for a total transaction of $1,162,678.89. Following the completion of the transaction, the chief financial officer owned 96,616 shares in the company, valued at approximately $11,281,850.32. This represents a 9.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthijs Glastra sold 6,500 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $130.05, for a total transaction of $845,325.00. Following the transaction, the chief executive officer owned 56,761 shares of the company’s stock, valued at approximately $7,381,768.05. This represents a 10.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 17,880 shares of company stock valued at $2,208,476. 1.20% of the stock is owned by company insiders.
Hedge Funds Weigh In On Novanta
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Novanta by 4.6% during the third quarter. Vanguard Group Inc. now owns 4,378,888 shares of the technology company’s stock valued at $438,546,000 after purchasing an additional 193,366 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Novanta by 27.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,776,694 shares of the technology company’s stock valued at $210,307,000 after buying an additional 377,232 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in shares of Novanta by 3.4% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,458,259 shares of the technology company’s stock valued at $173,518,000 after buying an additional 47,540 shares in the last quarter. State Street Corp lifted its holdings in shares of Novanta by 1.0% in the 4th quarter. State Street Corp now owns 1,319,474 shares of the technology company’s stock valued at $157,004,000 after acquiring an additional 13,603 shares during the last quarter. Finally, Wasatch Advisors LP lifted its holdings in shares of Novanta by 10.6% in the 2nd quarter. Wasatch Advisors LP now owns 1,100,029 shares of the technology company’s stock valued at $141,827,000 after acquiring an additional 104,985 shares during the last quarter. 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.
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