Novanta Inc. $NOVT Position Raised by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its position in shares of Novanta Inc. (NASDAQ:NOVT) by 484.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 48,336 shares of the technology company’s stock after buying an additional 40,071 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Novanta were worth $5,752,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. raised its holdings in Novanta by 22.4% during the fourth quarter. Assetmark Inc. now owns 541 shares of the technology company’s stock worth $64,000 after purchasing an additional 99 shares in the last quarter. Arizona State Retirement System raised its holdings in Novanta by 1.6% during the third quarter. Arizona State Retirement System now owns 10,632 shares of the technology company’s stock worth $1,065,000 after purchasing an additional 171 shares in the last quarter. Van ECK Associates Corp raised its holdings in Novanta by 17.2% during the third quarter. Van ECK Associates Corp now owns 1,627 shares of the technology company’s stock worth $163,000 after purchasing an additional 239 shares in the last quarter. Amundi increased its holdings in shares of Novanta by 1.4% in the third quarter. Amundi now owns 18,287 shares of the technology company’s stock valued at $1,908,000 after buying an additional 245 shares in the last quarter. Finally, Nicolet Advisory Services LLC increased its holdings in shares of Novanta by 7.1% in the third quarter. Nicolet Advisory Services LLC now owns 4,046 shares of the technology company’s stock valued at $409,000 after buying an additional 269 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Novanta Price Performance

Shares of NASDAQ:NOVT opened at $154.88 on Friday. The company’s fifty day moving average is $129.17 and its two-hundred day moving average is $127.05. The company has a quick ratio of 2.69, a current ratio of 3.56 and a debt-to-equity ratio of 0.15. Novanta Inc. has a 12-month low of $98.27 and a 12-month high of $165.56. The company has a market cap of $5.52 billion, a P/E ratio of 112.23 and a beta of 1.62.

Novanta (NASDAQ:NOVT) last announced its earnings results on Monday, May 11th. The technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.03. Novanta had a net margin of 5.35% and a return on equity of 12.06%. The company had revenue of $257.71 million for the quarter, compared to the consensus estimate of $253.40 million. During the same period in the previous year, the business earned $0.74 EPS. The company’s revenue was up 10.4% on a year-over-year basis. 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 expect that Novanta Inc. will post 3.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Novanta

In other Novanta news, CFO Robert Buckley sold 9,957 shares of the business’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 sale, the chief financial officer directly owned 96,616 shares of the company’s stock, valued at $11,281,850.32. The trade was a 9.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthijs Glastra sold 7,500 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $150.43, for a total transaction of $1,128,225.00. Following the sale, the chief executive officer directly owned 42,761 shares in the company, valued at approximately $6,432,537.23. This trade represents a 14.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 23,957 shares of company stock worth $3,136,229. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

NOVT has been the topic of several research reports. Wall Street Zen cut Novanta from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novanta in a report on Friday, April 17th. Finally, Robert W. Baird upped their price target on Novanta from $144.00 to $173.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $173.00.

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.