Alyeska Investment Group L.P. Invests $28.97 Million in Novanta Inc. $NOVT

Key Points

• Alyeska Investment Group acquired 178,571 Novanta shares worth approximately $28.97 million, representing about 0.47% of the company. Institutional investors collectively own 98.35% of NOVT.
• Novanta’s latest quarterly results exceeded expectations, with adjusted earnings of $0.89 per share and revenue of $265.81 million, up 10.3% year over year. The company issued fiscal 2026 EPS guidance of $3.68–$3.74.
• Analyst sentiment is generally positive: Novanta has an average “Buy” rating and a consensus price target of $194, versus a recent share price of $142.20. CEO Matthijs Glastra separately sold 6,500 shares under a pre-arranged Rule 10b5-1 plan.

Alyeska Investment Group L.P. acquired a new position in Novanta Inc. (NASDAQ:NOVT - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 178,571 shares of the technology company's stock, valued at approximately $28,971,000. Alyeska Investment Group L.P. owned approximately 0.47% of Novanta as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOVT. Summit Creek Advisors LLC lifted its stake in shares of Novanta by 47.5% during the fourth quarter. Summit Creek Advisors LLC now owns 73,673 shares of the technology company's stock valued at $8,766,000 after buying an additional 23,712 shares during the period. Legal & General Group Plc grew 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 valued at $24,637,000 after acquiring an additional 14,969 shares during the period. Bank of America Corp DE grew its holdings in shares of Novanta by 18.3% during the 1st quarter. Bank of America Corp DE now owns 456,241 shares of the technology company's stock worth $53,887,000 after purchasing an additional 70,728 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Novanta by 484.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 48,336 shares of the technology company's stock worth $5,752,000 after acquiring an additional 40,071 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in Novanta by 337.2% in the 4th quarter. Truist Financial Corp now owns 9,963 shares of the technology company's stock valued at $1,185,000 after purchasing an additional 7,684 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

Novanta Stock Performance

Novanta stock opened at $142.20 on Monday. The company's fifty day simple moving average is $152.24 and its 200-day simple moving average is $143.33. The company has a quick ratio of 3.79, a current ratio of 4.57 and a debt-to-equity ratio of 0.12. Novanta Inc. has a 12 month low of $98.27 and a 12 month high of $176.38. The stock has a market cap of $5.38 billion, a P/E ratio of 91.15 and a beta of 1.68.

Novanta (NASDAQ:NOVT - Get Free Report) last posted its earnings results on Wednesday, August 5th. The technology company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.06. Novanta had a return on equity of 10.83% and a net margin of 6.00%.The company had revenue of $265.81 million for the quarter, compared to analyst estimates of $262.30 million. During the same period last year, the company earned $0.76 earnings per share. The business's revenue was up 10.3% compared to the same quarter last year. Novanta has set its FY 2026 guidance at 3.680-3.740 EPS and its Q3 2026 guidance at 0.950-1.000 EPS. As a group, sell-side analysts forecast that Novanta Inc. will post 3.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Weiss Ratings reiterated a "hold (c-)" rating on shares of Novanta in a research note on Wednesday, July 15th. Wall Street Zen upgraded shares of Novanta from a "hold" rating to a "buy" rating in a research report on Sunday, August 9th. Zacks Research raised Novanta from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 14th. Finally, Robert W. Baird set a $194.00 price target on shares of Novanta in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $194.00.

Insider Transactions at Novanta

In related 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 value 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 approximately $4,795,389.93. This represents a 17.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by corporate insiders.

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.

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