Tidal Investments LLC Has $5.62 Million Stock Position in Novanta Inc. $NOVT

Key Points

• Tidal Investments increased its Novanta stake by 615.8% in the second quarter, purchasing 29,793 additional shares to hold 34,631 shares worth approximately $5.62 million. Institutional investors and hedge funds own 98.35% of the company.
• Novanta exceeded quarterly expectations, reporting adjusted earnings of $0.89 per share and revenue of $265.81 million, up 10.3% year over year. The company issued fiscal 2026 EPS guidance of $3.68–$3.74.
• Analyst sentiment is generally positive, with Novanta carrying an average “Buy” rating and a $194 price target versus a recent share price of $146.56. CEO Matthijs Glastra separately sold 6,500 shares under a pre-arranged Rule 10b5-1 plan.

Tidal Investments LLC increased its stake in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 615.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,631 shares of the technology company's stock after acquiring an additional 29,793 shares during the quarter. Tidal Investments LLC owned about 0.09% of Novanta worth $5,619,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Summit Creek Advisors LLC increased its holdings in shares of Novanta by 47.5% during the 4th quarter. Summit Creek Advisors LLC now owns 73,673 shares of the technology company's stock worth $8,766,000 after purchasing an additional 23,712 shares during the period. Legal & General Group Plc lifted its stake in shares of Novanta by 7.8% in the fourth quarter. Legal & General Group Plc now owns 207,053 shares of the technology company's stock valued at $24,637,000 after buying an additional 14,969 shares during the period. Bank of America Corp DE lifted its stake in shares of Novanta by 18.3% in the first quarter. Bank of America Corp DE now owns 456,241 shares of the technology company's stock valued at $53,887,000 after buying an additional 70,728 shares during the period. Thrivent Financial for Lutherans grew its position in Novanta by 484.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 48,336 shares of the technology company's stock worth $5,752,000 after buying an additional 40,071 shares in the last quarter. Finally, 1492 Capital Management LLC acquired a new stake in Novanta during the fourth quarter worth about $1,250,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Novanta Price Performance

NASDAQ:NOVT opened at $146.56 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.79 and a current ratio of 4.57. The company has a 50-day moving average of $149.84 and a 200-day moving average of $143.47. Novanta Inc. has a 52 week low of $98.27 and a 52 week high of $176.38. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of 93.95 and a beta of 1.67.

Novanta (NASDAQ:NOVT - Get Free Report) last posted its earnings results on Wednesday, August 5th. The technology company reported $0.89 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $262.30 million. During the same quarter in the previous year, the firm posted $0.76 earnings per share. The firm's revenue for the quarter 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. As a group, equities research analysts anticipate that Novanta Inc. will post 3.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Matthijs Glastra sold 6,500 shares of the company's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $161.13, for a total value of $1,047,345.00. Following the sale, the chief executive officer directly owned 29,761 shares in the company, valued at approximately $4,795,389.93. This represents a 17.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Zacks Research raised Novanta from a "hold" rating to a "strong-buy" rating in a report on Friday, August 14th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Novanta in a research report on Wednesday, July 15th. Wall Street Zen raised Novanta from a "hold" rating to a "buy" rating in a report on Sunday, August 9th. Finally, Robert W. Baird set a $194.00 price objective on Novanta in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Novanta currently has an average rating of "Buy" and an average price target of $194.00.

About Novanta

Novanta Inc is a technology company that develops and supplies equipment and components used in medical and advanced industrial applications. The company primarily serves original equipment manufacturers, integrating its technologies into systems used by healthcare providers, life sciences organizations and industrial customers.

Novanta's product portfolio includes medical technologies such as surgical visualization systems, insufflation and fluid-management equipment, and other components used in minimally invasive procedures.

Want to see what other hedge funds are holding NOVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novanta Inc. (NASDAQ:NOVT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.