Hsbc Holdings PLC Sells 110,713 Shares of Novanta Inc. $NOVT

Key Points

• HSBC Holdings sharply reduced its Novanta stake, selling 110,713 shares, or 98.8% of its position, and retaining 1,368 shares worth approximately $222,000.
• Novanta reported quarterly earnings of $0.89 per share, exceeding estimates of $0.83, while revenue rose 10.3% year over year to $265.81 million. The company guided for fiscal 2026 EPS of $3.68–$3.74.
• Analyst sentiment remains positive, with the stock carrying an average “Buy” rating and a $194 price target, compared with a recent share price of $132.80.

Hsbc Holdings PLC cut its stake in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 98.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,368 shares of the technology company's stock after selling 110,713 shares during the period. Hsbc Holdings PLC's holdings in Novanta were worth $222,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in Novanta by 27.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,776,694 shares of the technology company's stock valued at $210,307,000 after buying an additional 377,232 shares during the period. Wasatch Advisors LP boosted its holdings in Novanta by 54.6% during the 1st quarter. Wasatch Advisors LP now owns 996,645 shares of the technology company's stock valued at $117,714,000 after acquiring an additional 351,863 shares during the period. Bamco Inc. NY grew its holdings in shares of Novanta by 49.4% in the fourth quarter. Bamco Inc. NY now owns 936,962 shares of the technology company's stock worth $111,489,000 after purchasing an additional 309,869 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Novanta in the 2nd quarter worth $124,254,000. Finally, GW&K Investment Management LLC grew its stake in shares of Novanta by 187.3% in the fourth quarter. GW&K Investment Management LLC now owns 736,954 shares of the technology company's stock worth $87,691,000 after purchasing an additional 480,413 shares during the last quarter. 98.35% of the stock is owned by institutional investors.

Novanta Stock Performance

Shares of NASDAQ NOVT opened at $132.80 on Thursday. The firm has a 50 day moving average of $148.83 and a 200 day moving average of $143.50. The company has a current ratio of 4.57, a quick ratio of 3.79 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of 85.13 and a beta of 1.67. Novanta Inc. has a 12-month low of $98.27 and a 12-month high of $176.38.

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 for the quarter, topping the consensus estimate of $0.83 by $0.06. The business had revenue of $265.81 million for the quarter, compared to the consensus estimate of $262.30 million. Novanta had a net margin of 6.00% and a return on equity of 10.83%. The company's quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm earned $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. On average, research analysts anticipate that Novanta Inc. will post 3.7 earnings per share for the current year.

Insider Activity at Novanta

In related news, CEO Matthijs Glastra sold 6,500 shares of the firm's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $161.13, for a total value of $1,047,345.00. Following the transaction, the chief executive officer directly owned 29,761 shares of the company's stock, valued at approximately $4,795,389.93. This trade represents a 17.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NOVT has been the subject of several research reports. Wall Street Zen upgraded shares of Novanta from a "hold" rating to a "buy" rating in a research note on Sunday, August 9th. Robert W. Baird set a $194.00 target price on shares of Novanta in a report on Friday, August 7th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Novanta in a research note on Wednesday, July 15th. Finally, Zacks Research upgraded shares of Novanta from a "hold" rating to a "strong-buy" rating in a report on Friday, August 14th. One research 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $194.00.

Novanta Company Profile

Novanta Inc is a technology company that develops and supplies equipment and components used in medical and advanced industrial applications. The company primarily serves original equipment manufacturers, integrating its technologies into systems used by healthcare providers, life sciences organizations and industrial customers.

Novanta's product portfolio includes medical technologies such as surgical visualization systems, insufflation and fluid-management equipment, and other components used in minimally invasive procedures.

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.