Bamco Inc. NY Purchases 309,869 Shares of Novanta Inc. $NOVT

Bamco Inc. NY boosted its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 49.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 936,962 shares of the technology company’s stock after purchasing an additional 309,869 shares during the quarter. Bamco Inc. NY owned about 2.62% of Novanta worth $111,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Assetmark Inc. boosted its position in Novanta by 22.4% during the fourth quarter. Assetmark Inc. now owns 541 shares of the technology company’s stock valued at $64,000 after purchasing an additional 99 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in 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 purchasing an additional 233 shares in the last quarter. Van ECK Associates Corp boosted its position in Novanta by 17.2% during the third quarter. Van ECK Associates Corp now owns 1,627 shares of the technology company’s stock valued at $163,000 after purchasing an additional 239 shares in the last quarter. Amundi boosted its position in Novanta by 1.4% during the third quarter. Amundi now owns 18,287 shares of the technology company’s stock valued at $1,908,000 after purchasing an additional 245 shares in the last quarter. Finally, Nicolet Advisory Services LLC boosted its position in Novanta by 7.1% during the third quarter. Nicolet Advisory Services LLC now owns 4,046 shares of the technology company’s stock valued at $409,000 after purchasing an additional 269 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Novanta Trading Down 2.4%

Shares of NASDAQ:NOVT opened at $151.43 on Thursday. Novanta Inc. has a 52-week low of $98.27 and a 52-week high of $171.85. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 109.73 and a beta of 1.68. The company has a quick ratio of 2.69, a current ratio of 3.56 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $145.35 and a 200-day moving average price of $133.73.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings data on Monday, May 11th. The technology company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.03. Novanta had a return on equity of 12.06% and a net margin of 5.35%.The firm had revenue of $257.71 million during the quarter, compared to analysts’ expectations of $253.40 million. During the same period last year, the business posted $0.74 earnings per share. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. 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 predict that Novanta Inc. will post 3.59 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novanta in a research report on Friday, April 17th. Wall Street Zen downgraded Novanta from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Finally, Robert W. Baird set a $180.00 price target on Novanta in a report on Tuesday, June 9th. One 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 an average price target of $180.00.

Insider Activity

In other news, CEO Matthijs Glastra sold 7,500 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 42,761 shares in the company, valued at $6,432,537.23. This trade represents a 14.92% decrease in their ownership of the stock. 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. 1.20% of the stock is currently owned by insiders.

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.