Telemark Asset Management LLC Buys 125,000 Shares of Novanta Inc. $NOVT

Key Points

• Telemark Asset Management increased its Novanta stake by 50% in the fourth quarter, buying 125,000 additional shares to own 375,000 shares worth about $44.6 million.
• Novanta reported better-than-expected quarterly results, with EPS of $0.81 versus $0.78 expected and revenue of $257.7 million, up 10.4% year over year.
• Despite the earnings beat, insider selling and a mixed analyst view remain notable: the CEO and CFO sold shares in recent months, while the stock currently carries a consensus Hold rating with a $173 target price.

Telemark Asset Management LLC lifted its stake in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 50.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 375,000 shares of the technology company's stock after purchasing an additional 125,000 shares during the period. Novanta makes up about 4.5% of Telemark Asset Management LLC's investment portfolio, making the stock its 5th biggest position. Telemark Asset Management LLC owned approximately 1.05% of Novanta worth $44,621,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Allworth Financial LP lifted its holdings in Novanta by 978.4% in the fourth quarter. Allworth Financial LP now owns 399 shares of the technology company's stock valued at $47,000 after buying an additional 362 shares during the period. Danske Bank A S acquired a new position in Novanta in the third quarter valued at approximately $40,000. EverSource Wealth Advisors LLC lifted its holdings in Novanta by 120.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the technology company's stock valued at $51,000 after buying an additional 233 shares during the period. ANTIPODES PARTNERS Ltd acquired a new position in Novanta in the fourth quarter valued at approximately $53,000. Finally, Farther Finance Advisors LLC lifted its holdings in Novanta by 1,291.4% in the fourth quarter. Farther Finance Advisors LLC now owns 487 shares of the technology company's stock valued at $58,000 after buying an additional 452 shares during the period. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Novanta

In other Novanta news, CEO Matthijs Glastra sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $150.43, for a total value of $1,128,225.00. Following the completion of the sale, the chief executive officer owned 42,761 shares of the company's stock, valued at approximately $6,432,537.23. This represents a 14.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Buckley sold 9,957 shares of the company'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 sale, the chief financial officer directly owned 96,616 shares of the company's stock, valued at $11,281,850.32. The trade was a 9.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 23,957 shares of company stock valued at $3,136,229 in the last ninety days. Insiders own 1.20% of the company's stock.

Novanta Trading Down 5.3%

Shares of NASDAQ NOVT opened at $156.29 on Friday. The company's 50 day simple moving average is $138.68 and its 200 day simple moving average is $130.63. Novanta Inc. has a fifty-two week low of $98.27 and a fifty-two week high of $171.85. The firm has a market capitalization of $5.57 billion, a P/E ratio of 113.25 and a beta of 1.68. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.56 and a quick ratio of 2.69.

Novanta (NASDAQ:NOVT - Get Free Report) last issued its earnings results on Monday, May 11th. The technology company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.78 by $0.03. Novanta had a net margin of 5.35% and a return on equity of 12.06%. The firm had revenue of $257.71 million during the quarter, compared to the consensus estimate of $253.40 million. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The business's quarterly revenue was up 10.4% on a year-over-year basis. 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, analysts predict that Novanta Inc. will post 3.59 EPS for the current year.

Analyst Ratings Changes

NOVT has been the topic of several analyst reports. Robert W. Baird increased their price objective on shares of Novanta from $144.00 to $173.00 and gave the company an "outperform" rating in a report on Wednesday, May 13th. Wall Street Zen lowered shares of Novanta from a "buy" rating to a "hold" rating in a report on Saturday, April 18th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Novanta in a report on Friday, April 17th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Novanta currently has a consensus rating of "Hold" and a consensus target price of $173.00.

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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