Osterweis Capital Management Inc. Takes $17.05 Million Position in Novanta Inc. $NOVT

Key Points

• Osterweis Capital Management acquired 105,125 Novanta shares worth approximately $17.05 million, while institutional investors and hedge funds collectively own 98.35% of the stock.
• Analyst sentiment is generally positive: Novanta has a consensus “Buy” rating and a $194 price target, with Wall Street Zen and Zacks upgrading the shares.
• Novanta exceeded quarterly expectations, reporting $0.89 in EPS versus $0.83 expected and $265.81 million in revenue. Despite the results, shares opened at $139.48, down 4%, while the company maintained full-year 2026 EPS guidance of $3.68–$3.74.

Osterweis Capital Management Inc. purchased a new position in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 105,125 shares of the technology company's stock, valued at approximately $17,055,000. Osterweis Capital Management Inc. owned approximately 0.28% of Novanta at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Danske Bank A S bought a new stake in Novanta in the third quarter valued at approximately $40,000. Allworth Financial LP boosted its stake in shares of Novanta by 978.4% during the 4th quarter. Allworth Financial LP now owns 399 shares of the technology company's stock worth $47,000 after acquiring an additional 362 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Novanta by 120.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the technology company's stock worth $51,000 after acquiring an additional 233 shares during the period. ANTIPODES PARTNERS Ltd acquired a new position in shares of Novanta during the 4th quarter worth approximately $53,000. Finally, Harbor Investment Advisory LLC acquired a new position in shares of Novanta during the 2nd quarter worth approximately $54,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Novanta news, CEO Matthijs Glastra sold 6,500 shares of the 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 transaction, the chief executive officer owned 29,761 shares in the company, valued at $4,795,389.93. This trade represents a 17.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NOVT has been the subject of several research reports. Robert W. Baird set a $194.00 price target on Novanta in a report on Friday, August 7th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Novanta in a research report on Wednesday, July 15th. Wall Street Zen upgraded shares of Novanta from a "hold" rating to a "buy" rating in a report on Sunday, August 9th. Finally, Zacks Research raised shares of Novanta from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Novanta currently has a consensus rating of "Buy" and a consensus price target of $194.00.

Novanta Trading Down 4.0%

Shares of NASDAQ:NOVT opened at $139.48 on Tuesday. Novanta Inc. has a 12-month low of $98.27 and a 12-month high of $176.38. The stock has a market cap of $5.28 billion, a PE ratio of 89.41 and a beta of 1.68. The business has a 50 day moving average of $153.17 and a 200-day moving average of $143.22. 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 announced its earnings results on Wednesday, August 5th. The technology company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.06. The company had revenue of $265.81 million for the quarter, compared to analyst estimates of $262.30 million. Novanta had a return on equity of 10.83% and a net margin of 6.00%.The firm's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the company 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. As a group, equities research analysts forecast that Novanta Inc. will post 3.7 earnings per share for the current year.

About Novanta

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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