Novanta Inc. $NOVT Shares Acquired by Fred Alger Management LLC

Fred Alger Management LLC grew its holdings in Novanta Inc. (NASDAQ:NOVT) by 9.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 194,868 shares of the technology company’s stock after purchasing an additional 16,602 shares during the quarter. Fred Alger Management LLC owned approximately 0.54% of Novanta worth $23,187,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Summit Creek Advisors LLC grew its position in shares of Novanta by 47.5% in the fourth quarter. Summit Creek Advisors LLC now owns 73,673 shares of the technology company’s stock valued at $8,766,000 after purchasing an additional 23,712 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in 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 worth $155,536,000 after acquiring an additional 604,055 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Novanta by 15.4% during the third quarter. Envestnet Asset Management Inc. now owns 81,691 shares of the technology company’s stock worth $8,181,000 after acquiring an additional 10,896 shares during the last quarter. Legal & General Group Plc boosted its position in Novanta by 7.8% during the fourth quarter. Legal & General Group Plc now owns 207,053 shares of the technology company’s stock worth $24,637,000 after acquiring an additional 14,969 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Novanta by 4.2% during the third quarter. JPMorgan Chase & Co. now owns 753,111 shares of the technology company’s stock worth $75,424,000 after acquiring an additional 30,674 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Novanta

In other news, CEO Matthijs Glastra sold 7,500 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $150.43, for a total value of $1,128,225.00. Following the transaction, the chief executive officer owned 42,761 shares of the company’s stock, valued at approximately $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 at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on NOVT shares. Weiss Ratings restated a “hold (c-)” rating on shares of Novanta in a research report on Friday, April 17th. Wall Street Zen lowered shares of Novanta from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, Robert W. Baird set a $180.00 target price on shares of Novanta in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Novanta currently has a consensus rating of “Hold” and a consensus price target of $180.00.

Novanta Stock Down 1.0%

Shares of NOVT opened at $155.13 on Wednesday. The firm has a market cap of $5.52 billion, a PE ratio of 112.41 and a beta of 1.67. The company’s fifty day moving average is $144.66 and its two-hundred day moving average is $133.46. Novanta Inc. has a fifty-two week low of $98.27 and a fifty-two week high of $171.85. 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 (NASDAQ:NOVT) last announced its quarterly earnings results on Monday, May 11th. The technology company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. The company had revenue of $257.71 million for the quarter, compared to analyst estimates of $253.40 million. Novanta had a net margin of 5.35% and a return on equity of 12.06%. Novanta’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the business earned $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. Analysts forecast that Novanta Inc. will post 3.59 earnings per share for the current year.

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.