Novanta (NASDAQ:NOVT – Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
Several other research firms have also commented on NOVT. Robert W. Baird set a $180.00 price target on Novanta in a report on Tuesday, June 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Novanta in a report on Wednesday, July 15th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $180.00.
View Our Latest Stock Report on NOVT
Novanta Price Performance
Novanta (NASDAQ:NOVT – Get Free Report) last released its earnings results on Monday, May 11th. The technology company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. The business had revenue of $257.71 million for the quarter, compared to analyst estimates of $253.40 million. Novanta had a net margin of 5.35% and a return on equity of 12.06%. The business’s revenue was up 10.4% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q2 2026 guidance at 0.810-0.860 EPS. As a group, sell-side analysts predict that Novanta will post 3.59 EPS for the current fiscal year.
Insider Transactions at Novanta
In related news, CEO Matthijs Glastra sold 7,500 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $150.43, for a total transaction of $1,128,225.00. Following the transaction, the chief executive officer owned 42,761 shares of the company’s stock, valued at approximately $6,432,537.23. This represents a 14.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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.
Institutional Trading of Novanta
Hedge funds have recently made changes to their positions in the business. Danske Bank A S acquired a new position in shares of Novanta in the third quarter valued at approximately $40,000. Allworth Financial LP increased its stake in Novanta by 978.4% during the 4th quarter. Allworth Financial LP now owns 399 shares of the technology company’s stock worth $47,000 after buying an additional 362 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Novanta by 120.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the technology company’s stock worth $51,000 after buying an additional 233 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in Novanta during the 4th quarter worth approximately $53,000. Finally, Harbor Investment Advisory LLC purchased a new position in Novanta in the 2nd quarter valued at approximately $54,000. Institutional investors and hedge funds 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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