15,217 Shares in Novanta Inc. $NOVT Acquired by Diversify Wealth Management LLC

Diversify Wealth Management LLC acquired a new stake in Novanta Inc. (NASDAQ:NOVT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,217 shares of the technology company's stock, valued at approximately $1,840,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Danske Bank A S acquired a new stake in Novanta in the third quarter valued at $40,000. Allworth Financial LP raised its stake in shares of Novanta by 978.4% during the 4th quarter. Allworth Financial LP now owns 399 shares of the technology company's stock worth $47,000 after buying an additional 362 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Novanta by 120.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the technology company's stock worth $51,000 after buying an additional 233 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in shares of Novanta during the 4th quarter worth $53,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Novanta by 1,291.4% in the 4th quarter. Farther Finance Advisors LLC now owns 487 shares of the technology company's stock worth $58,000 after buying an additional 452 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Matthijs Glastra sold 6,500 shares of the company'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 sale, the chief executive officer directly owned 29,761 shares in the company, valued at $4,795,389.93. This represents a 17.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 20,500 shares of company stock worth $3,020,895. 1.20% of the stock is owned by insiders.

Novanta Trading Down 2.1%

Shares of NOVT stock opened at $146.62 on Wednesday. The firm has a market cap of $5.54 billion, a P/E ratio of 106.25 and a beta of 1.67. Novanta Inc. has a 1-year low of $98.27 and a 1-year high of $171.85. 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 firm's 50-day simple moving average is $155.88 and its 200-day simple moving average is $138.79.

Novanta (NASDAQ:NOVT - Get Free Report) last released its earnings results on Monday, May 11th. The technology company reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.03. Novanta had a net margin of 5.35% and a return on equity of 12.06%. The firm had revenue of $257.71 million during the quarter, compared to the consensus estimate of $253.40 million. During the same period in the previous year, the firm earned $0.74 earnings per share. Novanta's revenue was up 10.4% compared to the same quarter last year. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q2 2026 guidance at 0.810-0.860 EPS. As a group, equities analysts forecast that Novanta Inc. will post 3.59 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NOVT shares. Robert W. Baird set a $180.00 price objective on shares of Novanta in a research note on Tuesday, June 9th. Wall Street Zen upgraded shares of Novanta from a "hold" rating to a "buy" rating in a research report on Saturday, June 27th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Novanta in a report on Friday, April 17th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $180.00.

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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