California State Teachers Retirement System Purchases 7,506 Shares of Novanta Inc. $NOVT

Key Points

• California State Teachers Retirement System increased its Novanta stake by 22%, purchasing 7,506 shares to own 41,627 shares valued at approximately $4.9 million. Institutional investors collectively hold 98.35% of the company.
• Novanta reported strong second-quarter results, with adjusted EPS of $0.89 and revenue of $265.8 million, up 10.3% year over year and ahead of analyst estimates. Management’s third-quarter and full-year EPS guidance also exceeded consensus forecasts.
• Despite the upbeat outlook and shares trading near $163, analysts maintain a consensus “Hold” rating with a $180 price target; CEO Matthijs Glastra also sold 7,500 shares under a pre-arranged trading plan.

California State Teachers Retirement System grew its position in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 22.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,627 shares of the technology company's stock after buying an additional 7,506 shares during the quarter. California State Teachers Retirement System owned 0.12% of Novanta worth $4,917,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Fifth Third Bancorp increased its position in shares of Novanta by 12.8% during the first quarter. Fifth Third Bancorp now owns 778 shares of the technology company's stock valued at $92,000 after acquiring an additional 88 shares during the last quarter. Assetmark Inc. boosted its position in Novanta by 22.4% in the fourth quarter. Assetmark Inc. now owns 541 shares of the technology company's stock worth $64,000 after purchasing an additional 99 shares during the last quarter. State of Michigan Retirement System boosted its position in Novanta by 1.2% in the first quarter. State of Michigan Retirement System now owns 8,600 shares of the technology company's stock worth $1,016,000 after purchasing an additional 100 shares during the last quarter. HB Wealth Management LLC grew its stake in Novanta by 9.0% in the 1st quarter. HB Wealth Management LLC now owns 1,989 shares of the technology company's stock valued at $235,000 after purchasing an additional 164 shares during the period. Finally, Quantinno Capital Management LP grew its stake in Novanta by 1.6% in the 1st quarter. Quantinno Capital Management LP now owns 10,746 shares of the technology company's stock valued at $1,269,000 after purchasing an additional 169 shares during the period. Hedge funds and other institutional investors own 98.35% of the company's stock.

More Novanta News

Here are the key news stories impacting Novanta this week:

• Positive Sentiment: Novanta reported second-quarter 2026 adjusted earnings of $0.89 per share, exceeding the $0.83 analyst consensus and rising from $0.76 in the year-ago quarter. Revenue increased 10.3% year over year to $265.8 million, also topping expectations of $262.3 million. Novanta Tops Q2 Earnings and Revenue Estimates
• Positive Sentiment: Management raised or reaffirmed an upbeat outlook for the remainder of the year. Third-quarter EPS guidance of $0.95 to $1.00 is above the $0.94 consensus, while full-year EPS guidance of $3.68 to $3.74 exceeds the $3.59 analyst forecast. Novanta Announces Second-Quarter 2026 Results
• Positive Sentiment: Third-quarter revenue guidance of approximately $300 million to $304 million is substantially above the cited consensus estimate of $263.1 million, signaling strong expected growth and improving operating momentum. Novanta Q2 Earnings Snapshot
• Positive Sentiment: Management’s earnings call provided additional context on the quarterly performance and outlook, reinforcing investor confidence in Novanta’s growth trajectory. Novanta Q2 2026 Earnings Call Transcript
• Neutral Sentiment: Despite the positive guidance, NOVT trades at a relatively high valuation, with a P/E ratio near 44, leaving the stock sensitive to any slowdown in growth or future guidance disappointments.

Insider Activity at Novanta

In other news, CEO Matthijs Glastra sold 7,500 shares of the company'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 represents a 14.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Weiss Ratings reiterated a "hold (c-)" rating on shares of Novanta in a research note on Wednesday, July 15th. Robert W. Baird set a $180.00 price target on shares of Novanta in a research report on Tuesday, June 9th. Finally, Wall Street Zen downgraded shares of Novanta from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Novanta presently has a consensus rating of "Hold" and a consensus target price of $180.00.

Novanta Trading Up 6.7%

Shares of Novanta stock opened at $163.32 on Friday. The company's 50-day moving average price is $153.93 and its 200-day moving average price is $141.42. The company has a current ratio of 3.56, a quick ratio of 2.69 and a debt-to-equity ratio of 0.15. Novanta Inc. has a 12-month low of $98.27 and a 12-month high of $176.38. The company has a market cap of $6.17 billion, a price-to-earnings ratio of 104.69 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, topping analysts' consensus estimates of $0.83 by $0.06. Novanta had a net margin of 6.00% and a return on equity of 11.96%. The business had revenue of $265.81 million for the quarter, compared to analyst estimates of $262.30 million. During the same quarter in the prior year, the firm posted $0.76 EPS. Novanta's 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. On average, equities analysts expect that Novanta Inc. will post 3.59 earnings per share for the current fiscal 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.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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