TD Asset Management Inc Sells 6,692 Shares of Novanta Inc. $NOVT

TD Asset Management Inc cut its position in Novanta Inc. (NASDAQ:NOVT) by 45.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,144 shares of the technology company’s stock after selling 6,692 shares during the quarter. TD Asset Management Inc’s holdings in Novanta were worth $816,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Novanta by 4.6% during the third quarter. Vanguard Group Inc. now owns 4,378,888 shares of the technology company’s stock worth $438,546,000 after acquiring an additional 193,366 shares in the last quarter. Wasatch Advisors LP grew its position in shares of Novanta by 10.6% in the 2nd quarter. Wasatch Advisors LP now owns 1,100,029 shares of the technology company’s stock valued at $141,827,000 after acquiring an additional 104,985 shares during the period. Geode Capital Management LLC grew its position in shares of Novanta by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 919,666 shares of the technology company’s stock valued at $118,585,000 after acquiring an additional 12,789 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Novanta by 4.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 753,111 shares of the technology company’s stock worth $75,424,000 after purchasing an additional 30,674 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its stake in shares of Novanta by 16.5% during the 2nd quarter. Champlain Investment Partners LLC now owns 694,691 shares of the technology company’s stock worth $89,567,000 after purchasing an additional 98,501 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NOVT has been the subject of several recent analyst reports. Robert W. Baird set a $150.00 target price on shares of Novanta in a research note on Wednesday, February 25th. Weiss Ratings upgraded Novanta from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 20th. Finally, Zacks Research raised Novanta from a “strong sell” rating to a “hold” rating in a research report on Friday, January 16th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $150.00.

Insider Activity

In other Novanta news, CFO Robert Buckley sold 1,423 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $140.88, for a total value of $200,472.24. Following the completion of the sale, the chief financial officer owned 93,814 shares of the company’s stock, valued at $13,216,516.32. The trade was a 1.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Matthijs Glastra sold 7,500 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $145.04, for a total transaction of $1,087,800.00. Following the transaction, the chief executive officer owned 57,367 shares in the company, valued at approximately $8,320,509.68. The trade was a 11.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 24,346 shares of company stock valued at $3,382,737 in the last quarter. Corporate insiders own 1.20% of the company’s stock.

Novanta Stock Down 3.9%

NOVT stock opened at $131.22 on Friday. Novanta Inc. has a fifty-two week low of $98.27 and a fifty-two week high of $149.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.69 and a quick ratio of 2.80. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 89.88 and a beta of 1.61. The business’s fifty day moving average price is $134.88 and its two-hundred day moving average price is $121.00.

Novanta (NASDAQ:NOVT) last announced its earnings results on Monday, February 23rd. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Novanta had a net margin of 5.49% and a return on equity of 13.12%. The company had revenue of $258.35 million during the quarter, compared to analysts’ expectations of $260.72 million. During the same quarter in the previous year, the business posted $0.76 earnings per share. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q1 2026 guidance at 0.750-0.800 EPS. On average, equities analysts anticipate that Novanta Inc. will post 3.03 earnings per share for the current year.

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.