Bamco Inc. NY Invests $137.98 Million in Novanta Inc. $NOVT

Key Points

• Bamco Inc. NY acquired 850,494 Novanta shares worth approximately $137.98 million, giving it a 2.25% stake. Institutional investors collectively own 98.35% of the company.
• Analyst sentiment is broadly positive: Novanta received upgrades from Wall Street Zen and Zacks Research, while MarketBeat reports a consensus “Buy” rating and a $194 target price.
• Novanta exceeded quarterly expectations, reporting $0.89 EPS versus an $0.83 estimate and $265.81 million in revenue, up 10.3% year over year. The company guided to fiscal-year 2026 EPS of $3.68–$3.74.

Bamco Inc. NY acquired a new position in Novanta Inc. (NASDAQ:NOVT - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 850,494 shares of the technology company's stock, valued at approximately $137,984,000. Bamco Inc. NY owned approximately 2.25% of Novanta as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in Novanta by 27.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,776,694 shares of the technology company's stock worth $210,307,000 after buying an additional 377,232 shares in the last quarter. Conestoga Capital Advisors LLC raised its holdings in Novanta by 3.4% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,458,259 shares of the technology company's stock worth $173,518,000 after acquiring an additional 47,540 shares in the last quarter. State Street Corp boosted its position in Novanta by 1.0% during the fourth quarter. State Street Corp now owns 1,319,474 shares of the technology company's stock valued at $157,004,000 after purchasing an additional 13,603 shares during the last quarter. Wasatch Advisors LP grew its stake in Novanta by 10.6% in the second quarter. Wasatch Advisors LP now owns 1,100,029 shares of the technology company's stock valued at $141,827,000 after purchasing an additional 104,985 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Novanta by 3.8% in the 4th quarter. JPMorgan Chase & Co. now owns 781,562 shares of the technology company's stock valued at $92,998,000 after buying an additional 28,451 shares during the last quarter. Institutional investors own 98.35% of the company's stock.

Analyst Upgrades and Downgrades

NOVT has been the subject of several analyst reports. Wall Street Zen raised shares of Novanta from a "hold" rating to a "buy" rating in a research note on Sunday, August 9th. Zacks Research upgraded shares of Novanta from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 14th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Novanta in a report on Wednesday, July 15th. Finally, Robert W. Baird set a $194.00 target price on shares of Novanta in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Novanta has a consensus rating of "Buy" and a consensus target price of $194.00.

Novanta Price Performance

Novanta stock opened at $143.96 on Thursday. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of 92.28 and a beta of 1.68. The company has a current ratio of 4.57, a quick ratio of 3.79 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's 50 day moving average is $152.72 and its 200-day moving average is $143.32.

Novanta (NASDAQ:NOVT - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.89 earnings per share (EPS) 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 business had revenue of $265.81 million during the quarter, compared to the consensus estimate of $262.30 million. During the same period in the previous year, the company posted $0.76 EPS. The firm's quarterly revenue was up 10.3% on a year-over-year basis. Novanta has set its FY 2026 guidance at 3.680-3.740 EPS and its Q3 2026 guidance at 0.950-1.000 EPS. Equities research analysts expect that Novanta Inc. will post 3.7 EPS for the current year.

Insider Activity at Novanta

In other news, CEO Matthijs Glastra sold 6,500 shares of Novanta stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $161.13, for a total value 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 approximately $4,795,389.93. The trade was a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.20% of the company's stock.

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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