1492 Capital Management LLC Takes Position in Novanta Inc. $NOVT

Key Points

• 1492 Capital Management LLC initiated a new position in Novanta, buying 10,506 shares valued at about $1.25 million in the fourth quarter.
• Several other institutional investors also increased or started positions, while institutions and hedge funds now own 98.35% of Novanta’s shares.
• Novanta’s latest earnings beat expectations, with EPS of $0.81 versus the $0.78 estimate and revenue up 10.4% year over year; analysts currently have an average Hold rating with a $173 price target.

1492 Capital Management LLC purchased a new stake in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,506 shares of the technology company's stock, valued at approximately $1,250,000.

A number of other large investors have also made changes to their positions in NOVT. Danske Bank A S acquired a new stake in shares of Novanta during the third quarter valued at approximately $40,000. Allworth Financial LP raised its holdings in shares of Novanta by 978.4% during the fourth quarter. Allworth Financial LP now owns 399 shares of the technology company's stock valued at $47,000 after acquiring an additional 362 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Novanta by 120.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the technology company's stock valued at $51,000 after acquiring an additional 233 shares during the period. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Novanta during the fourth quarter valued at approximately $53,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Novanta by 1,291.4% during the fourth quarter. Farther Finance Advisors LLC now owns 487 shares of the technology company's stock valued at $58,000 after acquiring an additional 452 shares during the period. Institutional investors and hedge funds own 98.35% of the company's stock.

Insider Buying and Selling at Novanta

In other news, CFO Robert Buckley sold 9,957 shares of the 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 transaction, the chief financial officer owned 96,616 shares in the company, valued at $11,281,850.32. This represents a 9.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthijs Glastra sold 7,500 shares of the stock in a transaction on Tuesday, May 12th. The stock was 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 approximately $6,432,537.23. This trade represents a 14.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 23,957 shares of company stock worth $3,136,229. 1.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of Novanta from a "buy" rating to a "hold" rating in a research note on Saturday, April 18th. Robert W. Baird upped their price objective on shares of Novanta from $144.00 to $173.00 and gave the company an "outperform" rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Novanta in a research note on Friday, April 17th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Novanta presently has an average rating of "Hold" and an average price target of $173.00.

Novanta Stock Down 1.0%

NOVT opened at $166.94 on Thursday. Novanta Inc. has a fifty-two week low of $98.27 and a fifty-two week high of $171.85. The business has a 50-day moving average of $137.00 and a 200-day moving average of $130.02. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.56 and a quick ratio of 2.69. The company has a market capitalization of $5.94 billion, a PE ratio of 120.97 and a beta of 1.68.

Novanta (NASDAQ:NOVT - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The technology company reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.03. Novanta had a return on equity of 12.06% and a net margin of 5.35%.The company had revenue of $257.71 million during the quarter, compared to the consensus estimate of $253.40 million. During the same period last year, the business earned $0.74 EPS. The business's quarterly 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 research analysts forecast that Novanta Inc. will post 3.59 EPS for the current fiscal year.

Novanta Company 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.

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