Novanta Inc. $NOVT Shares Sold by Bessemer Group Inc.

Key Points

• Bessemer Group Inc. cut its Novanta stake by 28.2% in the fourth quarter, selling 62,747 shares and leaving it with 159,644 shares valued at about $19.0 million.
• Novanta insiders have also been selling shares, including CFO Robert Buckley and CEO Matthijs Glastra; insiders sold 25,380 shares worth $3.34 million over the last three months.
• The company posted solid quarterly results, reporting EPS of $0.81 versus the $0.78 estimate and revenue of $257.7 million, while Robert W. Baird raised its price target to $173 and kept an outperform rating.

Bessemer Group Inc. decreased its position in Novanta Inc. (NASDAQ:NOVT - Free Report) by 28.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 159,644 shares of the technology company's stock after selling 62,747 shares during the quarter. Bessemer Group Inc. owned about 0.45% of Novanta worth $18,997,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. raised its position in shares of Novanta by 22.4% during the 4th quarter. Assetmark Inc. now owns 541 shares of the technology company's stock valued at $64,000 after acquiring an additional 99 shares in the last quarter. Arizona State Retirement System raised its position in shares of Novanta by 1.6% during the 3rd quarter. Arizona State Retirement System now owns 10,632 shares of the technology company's stock valued at $1,065,000 after acquiring an additional 171 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Novanta by 17.2% during the 3rd quarter. Van ECK Associates Corp now owns 1,627 shares of the technology company's stock valued at $163,000 after acquiring an additional 239 shares in the last quarter. Amundi raised its position in shares of Novanta by 1.4% during the 3rd quarter. Amundi now owns 18,287 shares of the technology company's stock valued at $1,908,000 after acquiring an additional 245 shares in the last quarter. Finally, Nicolet Advisory Services LLC raised its position in shares of Novanta by 7.1% during the 3rd quarter. Nicolet Advisory Services LLC now owns 4,046 shares of the technology company's stock valued at $409,000 after acquiring an additional 269 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

Insider Buying and Selling at Novanta

In other news, CFO Robert Buckley sold 9,957 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $116.77, for a total value of $1,162,678.89. Following the completion of the transaction, the chief financial officer owned 96,616 shares of the company's stock, valued at approximately $11,281,850.32. This represents a 9.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Matthijs Glastra sold 7,500 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $150.43, for a total value of $1,128,225.00. Following the completion of the transaction, the chief executive officer directly owned 42,761 shares of the company's stock, valued at approximately $6,432,537.23. The trade was a 14.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 25,380 shares of company stock valued at $3,336,701. Company insiders own 1.20% of the company's stock.

Analyst Ratings Changes

NOVT has been the subject of a number of recent research reports. Wall Street Zen downgraded Novanta from a "buy" rating to a "hold" rating in a research note on Saturday, April 18th. Weiss Ratings restated a "hold (c-)" rating on shares of Novanta in a research note on Friday, April 17th. Finally, Robert W. Baird upped their price objective on Novanta from $144.00 to $173.00 and gave the stock an "outperform" rating in a research note on Wednesday. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Novanta has an average rating of "Hold" and an average target price of $173.00.

Novanta Price Performance

Shares of NOVT opened at $152.99 on Friday. The company has a market cap of $5.45 billion, a P/E ratio of 110.86 and a beta of 1.62. The stock has a fifty day moving average price of $127.39 and a 200 day moving average price of $126.39. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.56 and a quick ratio of 2.80. Novanta Inc. has a 12 month low of $98.27 and a 12 month high of $165.56.

Novanta (NASDAQ:NOVT - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The technology company reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.03. The firm had revenue of $257.71 million during the quarter, compared to the consensus estimate of $253.40 million. Novanta had a return on equity of 12.06% and a net margin of 5.35%.The firm's revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.74 EPS. 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 forecast 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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