Novanta Inc. $NOVT is Clearline Capital LP’s 10th Largest Position

Clearline Capital LP lifted its position in shares of Novanta Inc. (NASDAQ:NOVT) by 37.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 322,369 shares of the technology company’s stock after acquiring an additional 87,997 shares during the period. Novanta makes up approximately 1.9% of Clearline Capital LP’s portfolio, making the stock its 10th largest position. Clearline Capital LP’s holdings in Novanta were worth $38,359,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of 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 acquiring an additional 193,366 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in shares of Novanta by 3.4% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,458,259 shares of the technology company’s stock valued at $173,518,000 after acquiring an additional 47,540 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Novanta by 75.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,399,462 shares of the technology company’s stock valued at $155,536,000 after acquiring an additional 604,055 shares in the last quarter. State Street Corp increased its position in shares of Novanta by 1.0% during the fourth 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 in the last quarter. Finally, Wasatch Advisors LP increased its position in shares of Novanta by 10.6% during the second 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 in the last quarter. Institutional investors own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

NOVT has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Novanta from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Robert W. Baird set a $180.00 target price on shares of Novanta in a research report on Tuesday, June 9th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novanta in a research report on Friday, April 17th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $180.00.

Insider Buying and Selling at Novanta

In other news, CEO Matthijs Glastra sold 7,500 shares of Novanta 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 transaction, the chief executive officer owned 42,761 shares in the company, valued at $6,432,537.23. This trade represents a 14.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through 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 Trading Down 2.4%

NASDAQ:NOVT opened at $151.43 on Thursday. The company has a 50 day simple moving average of $145.35 and a two-hundred day simple moving average of $133.73. The company has a market cap of $5.39 billion, a PE ratio of 109.73 and a beta of 1.68. Novanta Inc. has a 12 month low of $98.27 and a 12 month high of $171.85. The company has a current ratio of 3.56, a quick ratio of 2.69 and a debt-to-equity ratio of 0.15.

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

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.