OneDigital Investment Advisors LLC Buys Shares of 5,836 Novanta Inc. $NOVT

OneDigital Investment Advisors LLC purchased a new stake in shares of Novanta Inc. (NASDAQ:NOVT) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,836 shares of the technology company’s stock, valued at approximately $947,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp increased its holdings in Novanta by 12.8% during the 1st quarter. Fifth Third Bancorp now owns 778 shares of the technology company’s stock worth $92,000 after acquiring an additional 88 shares during the period. Assetmark Inc. lifted its stake in Novanta by 22.4% in the 4th quarter. Assetmark Inc. now owns 541 shares of the technology company’s stock worth $64,000 after purchasing an additional 99 shares in the last quarter. State of Michigan Retirement System boosted its holdings in Novanta by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 8,600 shares of the technology company’s stock valued at $1,016,000 after purchasing an additional 100 shares during the period. HB Wealth Management LLC boosted its holdings in Novanta by 9.0% in the 1st quarter. HB Wealth Management LLC now owns 1,989 shares of the technology company’s stock valued at $235,000 after purchasing an additional 164 shares during the period. Finally, Quantinno Capital Management LP grew its position in shares of Novanta by 1.6% during the 1st quarter. Quantinno Capital Management LP now owns 10,746 shares of the technology company’s stock valued at $1,269,000 after purchasing an additional 169 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on NOVT shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novanta in a report on Wednesday, July 15th. Robert W. Baird set a $194.00 target price on Novanta in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded Novanta from a “hold” rating to a “buy” rating in a research note on Sunday, August 9th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $194.00.

Insider Buying and Selling at Novanta

In other news, CEO Matthijs Glastra sold 6,500 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 29,761 shares in the company, valued at approximately $4,795,389.93. The trade was a 17.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.20% of the company’s stock.

Novanta Price Performance

Shares of Novanta stock opened at $168.75 on Tuesday. The firm has a market capitalization of $6.38 billion, a PE ratio of 108.17 and a beta of 1.68. The company has a current ratio of 4.57, a quick ratio of 3.79 and a debt-to-equity ratio of 0.12. Novanta Inc. has a 12 month low of $98.27 and a 12 month high of $176.38. The business’s 50-day moving average price is $154.41 and its 200-day moving average price is $142.88.

Novanta (NASDAQ:NOVT) last released 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. Novanta had a return on equity of 10.83% and a net margin of 6.00%.The company had revenue of $265.81 million during the quarter, compared to the consensus estimate of $262.30 million. During the same quarter in the previous year, the company posted $0.76 EPS. Novanta’s quarterly revenue was up 10.3% compared to the same quarter last year. Novanta has set its FY 2026 guidance at 3.680-3.740 EPS and its Q3 2026 guidance at 0.950-1.000 EPS. Sell-side analysts forecast that Novanta Inc. will post 3.7 EPS for the current fiscal year.

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.