Novanta Inc. $NOVT Shares Acquired by Bradley Foster & Sargent Inc. CT

Key Points

• Bradley Foster & Sargent Inc. CT increased its Novanta stake by 24.1% in Q1, ending with 128,861 shares worth about $15.2 million.
• Institutional ownership remains very high, with hedge funds and other investors holding 98.35% of Novanta shares; several firms also recently added positions.
• Analyst sentiment is mixed but centered on a “Hold” view, with a consensus price target of $180; meanwhile, CEO Matthijs Glastra sold 6,500 shares in a planned transaction.

Bradley Foster & Sargent Inc. CT increased its stake in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 24.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,861 shares of the technology company's stock after purchasing an additional 25,056 shares during the quarter. Bradley Foster & Sargent Inc. CT owned approximately 0.36% of Novanta worth $15,220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Caxton Associates LLP purchased a new position in Novanta in the 1st quarter valued at about $1,362,000. Gibbs Wealth Management boosted its stake in shares of Novanta by 156.5% during the 1st quarter. Gibbs Wealth Management now owns 12,806 shares of the technology company's stock worth $1,513,000 after purchasing an additional 7,814 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Novanta by 47.6% during the first quarter. Sei Investments Co. now owns 484,316 shares of the technology company's stock worth $57,203,000 after buying an additional 156,263 shares in the last quarter. Group One Trading LLC purchased a new stake in shares of Novanta during the first quarter worth about $177,000. Finally, State of Wyoming acquired a new position in shares of Novanta in the first quarter valued at approximately $333,000. Institutional investors and hedge funds own 98.35% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NOVT shares. Robert W. Baird set a $180.00 price objective on shares of Novanta in a research note on Tuesday, June 9th. Wall Street Zen raised shares of Novanta from a "hold" rating to a "buy" rating in a research note on Saturday, June 27th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Novanta in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Novanta currently has a consensus rating of "Hold" and a consensus target price of $180.00.

Insider Activity

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

Novanta Stock Performance

NASDAQ NOVT opened at $141.54 on Friday. The business's 50-day moving average price is $155.63 and its 200 day moving average price is $140.10. 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 twelve month low of $98.27 and a twelve month high of $171.85. The company has a market capitalization of $5.34 billion, a PE ratio of 102.57 and a beta of 1.67.

Novanta (NASDAQ:NOVT - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The technology company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.78 by $0.03. Novanta had a return on equity of 12.06% and a net margin of 5.35%.The company had revenue of $257.71 million during the quarter, compared to analysts' expectations of $253.40 million. During the same quarter in the previous year, the business earned $0.74 EPS. The firm's revenue 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. On average, research analysts predict that Novanta Inc. will post 3.59 earnings per share for the current year.

Novanta 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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