39,140 Shares in Novanta Inc. $NOVT Acquired by Summit Creek Advisors LLC

Summit Creek Advisors LLC bought a new stake in shares of Novanta Inc. (NASDAQ:NOVT) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 39,140 shares of the technology company’s stock, valued at approximately $6,350,000. Novanta accounts for 2.2% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 19th biggest position. Summit Creek Advisors LLC owned 0.10% of Novanta at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NOVT. Harbor Investment Advisory LLC acquired a new stake in shares of Novanta in the second quarter worth $54,000. Allworth Financial LP raised its position in Novanta by 978.4% during the fourth quarter. Allworth Financial LP now owns 399 shares of the technology company’s stock valued at $47,000 after buying an additional 362 shares during the period. Danske Bank A S acquired a new position in Novanta during the third quarter valued at $40,000. EverSource Wealth Advisors LLC lifted its stake in Novanta by 120.1% in the 4th 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. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in Novanta in the 4th quarter worth about $53,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Novanta

In other Novanta news, CEO Matthijs Glastra sold 6,500 shares of the business’s stock in a transaction dated 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 owned 29,761 shares of the company’s stock, valued at $4,795,389.93. The trade was a 17.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by corporate insiders.

Novanta Stock Performance

NOVT stock opened at $157.11 on Wednesday. The firm has a 50 day moving average of $154.33 and a two-hundred day moving average of $143.01. Novanta Inc. has a 12 month low of $98.27 and a 12 month high of $176.38. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 100.71 and a beta of 1.68. The company has a quick ratio of 3.79, a current ratio of 4.57 and a debt-to-equity ratio of 0.12.

Novanta (NASDAQ:NOVT) last released its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.06. The business had revenue of $265.81 million for the quarter, compared to the consensus estimate of $262.30 million. Novanta had a net margin of 6.00% and a return on equity of 10.83%. Novanta’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 EPS. 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, equities analysts anticipate that Novanta Inc. will post 3.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Robert W. Baird set a $194.00 target price on Novanta in a research note on Friday, August 7th. Wall Street Zen raised shares of Novanta from a “hold” rating to a “buy” rating in a research report on Sunday, August 9th. Weiss Ratings restated a “hold (c-)” rating on shares of Novanta in a report on Wednesday, July 15th. Finally, Zacks Research raised shares of Novanta from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $194.00.

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.