Royal Bank of Canada Sells 26,271 Shares of Novanta Inc. $NOVT

Key Points

• Royal Bank of Canada reduced its Novanta stake by 10.7%, selling 26,271 shares and retaining 219,786 shares valued at approximately $26 million. Institutional investors collectively own 98.35% of the company.
• Novanta exceeded quarterly expectations, reporting $0.81 in earnings per share on $257.71 million in revenue, with revenue up 10.4% year over year. The company maintained fiscal 2026 EPS guidance of $3.50–$3.65.
• Analyst sentiment remains cautious, with Novanta holding a consensus “Hold” rating and an average price target of $180. CEO Matthijs Glastra also sold 6,500 shares under a pre-arranged Rule 10b5-1 plan.

Royal Bank of Canada lowered its holdings in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 10.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 219,786 shares of the technology company's stock after selling 26,271 shares during the period. Royal Bank of Canada owned approximately 0.62% of Novanta worth $25,958,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NOVT. Danske Bank A S bought a new position in shares of Novanta during the 3rd quarter worth approximately $40,000. Allworth Financial LP increased its stake in shares of Novanta by 978.4% in the 4th quarter. Allworth Financial LP now owns 399 shares of the technology company's stock valued at $47,000 after acquiring an additional 362 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Novanta by 120.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the technology company's stock valued at $51,000 after acquiring an additional 233 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in shares of Novanta during the 4th quarter valued at $53,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Novanta by 1,291.4% during the 4th quarter. Farther Finance Advisors LLC now owns 487 shares of the technology company's stock valued at $58,000 after acquiring an additional 452 shares during the period. 98.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Novanta

In related news, CEO Matthijs Glastra sold 6,500 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer 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 legal filing 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. 1.20% of the stock is owned by corporate insiders.

Novanta Stock Performance

NASDAQ NOVT opened at $159.49 on Wednesday. The company has a market cap of $6.02 billion, a P/E ratio of 115.57 and a beta of 1.68. The company has a fifty day simple moving average of $154.02 and a 200 day simple moving average of $141.07. 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 12-month low of $98.27 and a 12-month high of $171.85.

Novanta (NASDAQ:NOVT - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The technology company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.03. The firm had revenue of $257.71 million for the quarter, compared to the consensus estimate of $253.40 million. Novanta had a net margin of 5.35% and a return on equity of 12.06%. The business's revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.74 earnings per share. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q2 2026 guidance at 0.810-0.860 EPS. Sell-side analysts predict that Novanta Inc. will post 3.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wall Street Zen cut shares of Novanta from a "buy" rating to a "hold" rating in a report on Saturday. Weiss Ratings reiterated a "hold (c-)" rating on shares of Novanta in a report on Wednesday, July 15th. Finally, Robert W. Baird set a $180.00 target price on Novanta in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Novanta presently has a consensus rating of "Hold" and a consensus price target of $180.00.

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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