Summit Creek Advisors LLC Purchases 23,712 Shares of Novanta Inc. $NOVT

Key Points

• Summit Creek Advisors increased its Novanta stake by 47.5% in the fourth quarter, buying 23,712 shares and lifting its holdings to 73,673 shares worth about $8.77 million.
• Insiders sold shares recently, including CFO Robert Buckley and CEO Matthijs Glastra; total insider sales over the last three months reached 25,380 shares valued at about $3.34 million.
• Novanta beat earnings expectations in its latest quarter, reporting $0.81 EPS on revenue of $257.71 million, and analysts note the stock has a consensus Hold rating with a $173 average price target.

Summit Creek Advisors LLC grew its position in Novanta Inc. (NASDAQ:NOVT - Free Report) by 47.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 73,673 shares of the technology company's stock after buying an additional 23,712 shares during the period. Summit Creek Advisors LLC owned 0.21% of Novanta worth $8,766,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Novanta by 75.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,399,462 shares of the technology company's stock valued at $155,536,000 after buying an additional 604,055 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Novanta by 15.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 81,691 shares of the technology company's stock valued at $8,181,000 after buying an additional 10,896 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Novanta by 24.8% in the 3rd quarter. Bessemer Group Inc. now owns 222,391 shares of the technology company's stock valued at $22,272,000 after buying an additional 44,252 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Novanta by 4.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 753,111 shares of the technology company's stock valued at $75,424,000 after buying an additional 30,674 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Novanta by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,378,888 shares of the technology company's stock valued at $438,546,000 after buying an additional 193,366 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Novanta news, CFO Robert Buckley sold 9,957 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $116.77, for a total transaction of $1,162,678.89. Following the completion of the transaction, the chief financial officer directly owned 96,616 shares of the company's stock, valued at approximately $11,281,850.32. This trade represents a 9.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Matthijs Glastra sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $150.43, for a total transaction of $1,128,225.00. Following the transaction, the chief executive officer directly owned 42,761 shares of the company's stock, valued at $6,432,537.23. This represents a 14.92% decrease in their ownership of the stock. 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. Insiders have sold a total of 25,380 shares of company stock valued at $3,336,701 over the last three months. 1.20% of the stock is currently owned by insiders.

Novanta Stock Up 4.1%

NOVT stock opened at $153.60 on Thursday. The firm has a 50 day moving average of $128.54 and a 200 day moving average of $126.85. The stock has a market capitalization of $5.47 billion, a PE ratio of 111.31 and a beta of 1.62. The company has a quick ratio of 2.69, a current ratio of 3.56 and a debt-to-equity ratio of 0.15. Novanta Inc. has a 52 week low of $98.27 and a 52 week high of $165.56.

Novanta (NASDAQ:NOVT - Get Free Report) last released its earnings results 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 company had revenue of $257.71 million during the quarter, compared to analysts' expectations of $253.40 million. Novanta had a net margin of 5.35% and a return on equity of 12.06%. Novanta's revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last 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. Sell-side analysts forecast that Novanta Inc. will post 3.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Robert W. Baird raised their price target on shares of Novanta from $144.00 to $173.00 and gave the company an "outperform" rating in a report on Wednesday, May 13th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Novanta in a research note on Friday, April 17th. Finally, Wall Street Zen cut shares of Novanta from a "buy" rating to a "hold" rating in a research note on Saturday, April 18th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $173.00.

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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