Novanta Inc. $NOVT Holdings Raised by Magnetar Financial LLC

Magnetar Financial LLC grew its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 244.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,564 shares of the technology company’s stock after acquiring an additional 25,934 shares during the period. Magnetar Financial LLC owned 0.10% of Novanta worth $3,662,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Congress Asset Management Co. acquired a new stake in Novanta during the third quarter valued at $59,153,000. Mawer Investment Management Ltd. increased its position in Novanta by 1,114.5% in the 3rd quarter. Mawer Investment Management Ltd. now owns 391,148 shares of the technology company’s stock worth $39,173,000 after purchasing an additional 358,941 shares during the last quarter. Norges Bank acquired a new position in Novanta in the 2nd quarter worth about $29,982,000. Brown Advisory Inc. raised its stake in shares of Novanta by 8,526.6% during the 2nd quarter. Brown Advisory Inc. now owns 220,409 shares of the technology company’s stock worth $28,417,000 after purchasing an additional 217,854 shares in the last quarter. Finally, Bamco Inc. NY lifted its holdings in shares of Novanta by 202.3% during the 2nd quarter. Bamco Inc. NY now owns 311,115 shares of the technology company’s stock valued at $40,112,000 after buying an additional 208,188 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Novanta Stock Performance

NASDAQ:NOVT opened at $126.31 on Thursday. The firm has a market capitalization of $4.51 billion, a PE ratio of 86.51 and a beta of 1.61. Novanta Inc. has a 1 year low of $98.27 and a 1 year high of $149.95. The company has a current ratio of 3.69, a quick ratio of 2.80 and a debt-to-equity ratio of 0.16. The firm’s fifty day simple moving average is $135.16 and its 200 day simple moving average is $121.17.

Novanta (NASDAQ:NOVT) last released its quarterly earnings results on Monday, February 23rd. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $258.35 million during the quarter, compared to analysts’ expectations of $260.72 million. Novanta had a net margin of 5.49% and a return on equity of 13.12%. During the same period in the prior year, the company earned $0.76 earnings per share. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q1 2026 guidance at 0.750-0.800 EPS. On average, sell-side analysts anticipate that Novanta Inc. will post 3.03 EPS for the current year.

Insider Buying and Selling

In other news, CFO Robert Buckley sold 1,423 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $140.88, for a total transaction of $200,472.24. Following the completion of the transaction, the chief financial officer directly owned 93,814 shares in the company, valued at $13,216,516.32. The trade was a 1.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthijs Glastra sold 7,500 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $145.04, for a total value of $1,087,800.00. Following the completion of the sale, the chief executive officer directly owned 57,367 shares of the company’s stock, valued at $8,320,509.68. This represents a 11.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 24,346 shares of company stock worth $3,382,737 in the last ninety days. Insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

NOVT has been the topic of several recent research reports. Weiss Ratings raised shares of Novanta from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, January 20th. Robert W. Baird set a $150.00 price objective on shares of Novanta in a research note on Wednesday, February 25th. Finally, Zacks Research upgraded shares of Novanta from a “strong sell” rating to a “hold” rating in a report on Friday, January 16th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Novanta currently has a consensus rating of “Hold” and an average price target of $150.00.

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.