Congress Asset Management Co. Has $72.82 Million Position in Novanta Inc. $NOVT

Key Points

• Congress Asset Management increased its stake in Novanta to 611,978 shares (about 1.71% of the company) valued at roughly $72.82 million after adding 21,331 shares in Q4.
• Insider selling has been notable recently: the CFO sold 9,957 shares and the CEO sold 7,500 shares, with insiders offloading 34,303 shares worth $4.55 million over the last 90 days (insiders now own 1.20%).
• Analysts maintain an average Hold rating with a $150 price target; Novanta beat EPS estimates ($0.91 vs. $0.88) but slightly missed revenue, and set FY2026 guidance of $3.50–$3.65 EPS.

Congress Asset Management Co. raised its stake in Novanta Inc. (NASDAQ:NOVT - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 611,978 shares of the technology company's stock after buying an additional 21,331 shares during the quarter. Congress Asset Management Co. owned about 1.71% of Novanta worth $72,819,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Novanta during the third quarter worth $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Novanta in the 3rd quarter worth $40,000. Danske Bank A S acquired a new position in Novanta in the 3rd quarter worth $40,000. Caitong International Asset Management Co. Ltd bought a new position in Novanta during the 3rd quarter worth about $81,000. Finally, Harbor Investment Advisory LLC raised its stake in shares of Novanta by 47.1% in the 3rd quarter. Harbor Investment Advisory LLC now owns 987 shares of the technology company's stock valued at $99,000 after purchasing an additional 316 shares during the period. Institutional investors and hedge funds own 98.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Robert W. Baird set a $150.00 price target on Novanta in a report on Wednesday, February 25th. Weiss Ratings raised Novanta from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, January 20th. Finally, Zacks Research raised shares of Novanta from a "strong sell" rating to a "hold" rating in a research note on Friday, January 16th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Novanta presently has an average rating of "Hold" and an average price target of $150.00.

Insider Buying and Selling

In other news, CFO Robert Buckley sold 9,957 shares of the company's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $116.77, for a total transaction of $1,162,678.89. Following the sale, the chief financial officer owned 96,616 shares in the company, valued at $11,281,850.32. This represents a 9.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Matthijs Glastra sold 7,500 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $145.04, for a total value of $1,087,800.00. Following the completion of the sale, the chief executive officer directly owned 57,367 shares of the company's stock, valued at approximately $8,320,509.68. The trade was a 11.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 34,303 shares of company stock valued at $4,545,416. Corporate insiders own 1.20% of the company's stock.

Novanta Trading Up 3.1%

Shares of NASDAQ:NOVT opened at $117.35 on Tuesday. The company's 50-day moving average price is $134.47 and its two-hundred day moving average price is $121.31. Novanta Inc. has a one year low of $98.27 and a one year high of $149.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.69 and a quick ratio of 2.80. The stock has a market capitalization of $4.19 billion, a PE ratio of 80.38 and a beta of 1.61.

Novanta (NASDAQ:NOVT - Get Free Report) last announced its quarterly earnings data on Monday, February 23rd. The technology company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The company had revenue of $258.35 million during the quarter, compared to analysts' expectations of $260.72 million. Novanta had a return on equity of 13.12% and a net margin of 5.49%.During the same quarter last year, the company earned $0.76 EPS. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q1 2026 guidance at 0.750-0.800 EPS. On average, equities analysts forecast that Novanta Inc. will post 3.03 EPS 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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