Hsbc Holdings PLC Buys 172,435 Shares of Novanta Inc. $NOVT

Hsbc Holdings PLC raised its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 1,355.6% during the fourth quarter, Holdings Channel reports. The firm owned 185,155 shares of the technology company’s stock after buying an additional 172,435 shares during the quarter. Hsbc Holdings PLC’s holdings in Novanta were worth $21,964,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NOVT. Rockefeller Capital Management L.P. raised its stake in Novanta by 155.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 662 shares of the technology company’s stock worth $79,000 after buying an additional 403 shares in the last quarter. Corient Private Wealth LLC purchased a new position in shares of Novanta during the 4th quarter worth approximately $275,000. Invesco Ltd. grew its holdings in shares of Novanta by 9.0% during the 4th quarter. Invesco Ltd. now owns 68,089 shares of the technology company’s stock worth $8,102,000 after acquiring an additional 5,600 shares during the period. Alberta Investment Management Corp bought a new position in shares of Novanta in the 4th quarter worth approximately $1,285,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Novanta in the 4th quarter worth approximately $314,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NOVT. Robert W. Baird set a $180.00 price target on Novanta in a research report on Tuesday, June 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Novanta in a report on Friday, April 17th. Finally, Wall Street Zen raised Novanta from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Novanta has a consensus rating of “Hold” and an average target price of $180.00.

Novanta Price Performance

NOVT stock opened at $147.85 on Wednesday. The firm has a 50 day moving average price of $153.70 and a 200-day moving average price of $137.75. Novanta Inc. has a 52-week low of $98.27 and a 52-week high of $171.85. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 107.14 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.69 and a current ratio of 3.56.

Novanta (NASDAQ:NOVT) last posted 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 company had revenue of $257.71 million for the quarter, compared to the consensus estimate of $253.40 million. Novanta had a return on equity of 12.06% and a net margin of 5.35%.The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business 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. Equities research analysts forecast that Novanta Inc. will post 3.59 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Matthijs Glastra sold 6,500 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $161.13, for a total transaction of $1,047,345.00. Following the completion of the transaction, the chief executive officer directly owned 29,761 shares in the company, valued at $4,795,389.93. This trade represents a 17.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,500 shares of company stock valued at $3,020,895 over the last 90 days. Insiders own 1.20% of the company’s stock.

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.