Empowered Funds LLC Buys New Position in Novanta Inc. $NOVT

Key Points

• Empowered Funds LLC acquired 7,173 Novanta shares in the second quarter, worth approximately $1.16 million. Institutional investors collectively own 98.35% of the company.
• Novanta exceeded quarterly expectations, reporting $0.89 EPS and $265.81 million in revenue, with revenue up 10.3% year over year. The company issued fiscal 2026 EPS guidance of $3.68–$3.74.
• Analyst sentiment is broadly positive, with a consensus “Buy” rating and an average price target of $194, compared with a recent share price of $148.36.

Empowered Funds LLC bought a new stake in Novanta Inc. (NASDAQ:NOVT - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 7,173 shares of the technology company's stock, valued at approximately $1,164,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Public Employees Retirement System of Ohio acquired a new stake in Novanta during the 2nd quarter worth approximately $34,000. Harbor Investment Advisory LLC acquired a new stake in shares of Novanta in the second quarter valued at $54,000. Allworth Financial LP purchased a new position in Novanta in the second quarter valued at $59,000. Danske Bank A S purchased a new position in Novanta in the third quarter valued at $40,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Novanta by 120.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the technology company's stock valued at $51,000 after acquiring an additional 233 shares in the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Novanta Price Performance

Shares of NASDAQ:NOVT opened at $148.36 on Friday. Novanta Inc. has a 52 week low of $98.27 and a 52 week high of $176.38. The company has a 50-day moving average price of $151.30 and a 200 day moving average price of $143.43. The company has a market cap of $5.61 billion, a P/E ratio of 95.10 and a beta of 1.67. 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 (NASDAQ:NOVT - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.06. The firm had revenue of $265.81 million during the quarter, compared to analysts' expectations of $262.30 million. Novanta had a return on equity of 10.83% and a net margin of 6.00%.Novanta's revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 earnings per share. Novanta has set its FY 2026 guidance at 3.680-3.740 EPS and its Q3 2026 guidance at 0.950-1.000 EPS. Research analysts predict that Novanta Inc. will post 3.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Transactions at Novanta

In related news, CEO Matthijs Glastra sold 6,500 shares of Novanta stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $161.13, for a total transaction of $1,047,345.00. Following the completion of the transaction, the chief executive officer directly owned 29,761 shares of the company's stock, valued at approximately $4,795,389.93. The trade was a 17.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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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