Oppenheimer Asset Management Inc. Buys New Stake in Novanta Inc. $NOVT

Key Points

• Oppenheimer Asset Management bought 35,729 Novanta shares worth approximately $5.8 million, while institutional investors collectively own 98.35% of the company.
• Novanta exceeded quarterly expectations, reporting $0.89 in EPS versus $0.83 expected and $265.8 million in revenue, up 10.3% year over year. The company issued fiscal 2026 EPS guidance of $3.68–$3.74.
• Novanta shares opened at $166.58, near their 52-week high, while analysts maintain a consensus “Hold” rating with a $194 price target. CEO Matthijs Glastra separately sold 6,500 shares under a pre-arranged 10b5-1 plan.

Oppenheimer Asset Management Inc. purchased a new position in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,729 shares of the technology company's stock, valued at approximately $5,797,000. Oppenheimer Asset Management Inc. owned approximately 0.09% of Novanta as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOVT. Fifth Third Bancorp raised its position in shares of Novanta by 12.8% in the first quarter. Fifth Third Bancorp now owns 778 shares of the technology company's stock worth $92,000 after acquiring an additional 88 shares during the period. Assetmark Inc. grew 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 during the period. State of Michigan Retirement System grew its position in shares of Novanta by 1.2% during the 1st quarter. State of Michigan Retirement System now owns 8,600 shares of the technology company's stock valued at $1,016,000 after acquiring an additional 100 shares during the period. HB Wealth Management LLC grew its position in shares of Novanta by 9.0% during the 1st quarter. HB Wealth Management LLC now owns 1,989 shares of the technology company's stock valued at $235,000 after acquiring an additional 164 shares during the period. Finally, Quantinno Capital Management LP increased its stake in shares of Novanta by 1.6% in the 1st quarter. Quantinno Capital Management LP now owns 10,746 shares of the technology company's stock valued at $1,269,000 after purchasing an additional 169 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

Novanta Stock Down 0.4%

Shares of NASDAQ NOVT opened at $166.58 on Friday. The company's 50-day simple moving average is $154.32 and its 200-day simple moving average is $142.64. Novanta Inc. has a 52-week low of $98.27 and a 52-week high of $176.38. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 106.78 and a beta of 1.68. 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 earnings results on Wednesday, August 5th. The technology company reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.06. Novanta had a net margin of 6.00% and a return on equity of 10.83%. The business had revenue of $265.81 million during the quarter, compared to analysts' expectations of $262.30 million. During the same quarter in the previous year, the company earned $0.76 earnings per share. The company's quarterly revenue was up 10.3% on a year-over-year basis. Novanta has set its FY 2026 guidance at 3.680-3.740 EPS and its Q3 2026 guidance at 0.950-1.000 EPS. Equities analysts predict that Novanta Inc. will post 3.7 EPS for the current fiscal year.

Insider Buying and Selling

In other Novanta news, CEO Matthijs Glastra sold 6,500 shares of the stock in a transaction that occurred 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 owned 29,761 shares of the company's stock, valued at $4,795,389.93. This represents a 17.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Robert W. Baird set a $194.00 price target on Novanta in a report on Friday, August 7th. Wall Street Zen raised Novanta from a "hold" rating to a "buy" rating in a report 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 research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Novanta currently has a consensus rating of "Hold" and a consensus price target of $194.00.

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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