Castleark Management LLC Purchases New Position in Novanta Inc. $NOVT

Key Points

• Castleark Management initiated a Novanta position by purchasing 34,990 shares valued at approximately $4.1 million. Institutional investors collectively own 98.35% of the company.
• Novanta’s latest quarterly results exceeded expectations, with adjusted earnings of $0.81 per share and revenue of $257.7 million, up 10.4% year over year. The company maintained fiscal 2026 EPS guidance of $3.50–$3.65.
• Shares opened at $140.80, while analysts maintain a consensus “Hold” rating and an $180 price target. CEO Matthijs Glastra separately sold 7,500 shares for roughly $1.13 million under a pre-arranged trading plan.

Castleark Management LLC bought a new stake in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 34,990 shares of the technology company's stock, valued at approximately $4,133,000. Castleark Management LLC owned 0.10% of Novanta as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOVT. Danske Bank A S acquired a new stake in Novanta in the third quarter valued at $40,000. Allworth Financial LP boosted its holdings in Novanta by 978.4% in the fourth quarter. Allworth Financial LP now owns 399 shares of the technology company's stock worth $47,000 after purchasing an additional 362 shares during the period. EverSource Wealth Advisors LLC increased its stake in 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 purchasing an additional 233 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in Novanta during the fourth quarter valued at $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 worth $58,000 after purchasing an additional 452 shares during the period. Hedge funds and other institutional investors own 98.35% of the company's stock.

Novanta Price Performance

NASDAQ:NOVT opened at $140.80 on Tuesday. The firm has a market cap of $5.32 billion, a P/E ratio of 102.03 and a beta of 1.67. Novanta Inc. has a 52-week low of $98.27 and a 52-week high of $171.85. The company has a quick ratio of 2.69, a current ratio of 3.56 and a debt-to-equity ratio of 0.15. The business's 50-day moving average price is $155.42 and its 200 day moving average price is $140.42.

Novanta (NASDAQ:NOVT - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The technology company reported $0.81 earnings per share for the quarter, beating 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 business had revenue of $257.71 million during the quarter, compared to analyst estimates of $253.40 million. During the same quarter last year, the company posted $0.74 EPS. Novanta's revenue for the quarter 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. As a group, sell-side analysts predict that Novanta Inc. will post 3.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NOVT has been the topic of several research reports. Wall Street Zen upgraded shares of Novanta from a "hold" rating to a "buy" rating in a research note on Saturday, June 27th. Weiss Ratings restated a "hold (c-)" rating on shares of Novanta in a research note on Wednesday, July 15th. Finally, Robert W. Baird set a $180.00 target price on Novanta in a report on Tuesday, June 9th. 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, the stock presently has an average rating of "Hold" and a consensus target price of $180.00.

Insider Buying and Selling

In other Novanta news, CEO Matthijs Glastra sold 7,500 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 42,761 shares of the company's stock, valued at $6,432,537.23. The trade was a 14.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by company insiders.

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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