JPMorgan Chase & Co. Has $75.42 Million Holdings in Novanta Inc. $NOVT

JPMorgan Chase & Co. increased its position in shares of Novanta Inc. (NASDAQ:NOVT) by 4.2% during the third quarter, HoldingsChannel.com reports. The firm owned 753,111 shares of the technology company’s stock after buying an additional 30,674 shares during the period. JPMorgan Chase & Co.’s holdings in Novanta were worth $75,424,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Congress Asset Management Co. bought a new position in Novanta in the third quarter worth $59,153,000. Mawer Investment Management Ltd. increased its holdings in Novanta by 1,114.5% in the 3rd quarter. Mawer Investment Management Ltd. now owns 391,148 shares of the technology company’s stock valued at $39,173,000 after buying an additional 358,941 shares during the period. Bamco Inc. NY increased its holdings in Novanta by 101.6% in the 3rd quarter. Bamco Inc. NY now owns 627,093 shares of the technology company’s stock valued at $62,803,000 after buying an additional 315,978 shares during the period. Norges Bank acquired a new position in shares of Novanta in the 2nd quarter valued at $29,982,000. Finally, American Capital Management Inc. acquired a new position in shares of Novanta in the 3rd quarter valued at $21,919,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NOVT. Robert W. Baird set a $150.00 target price on shares of Novanta in a research report on Wednesday, February 25th. Weiss Ratings raised shares of Novanta from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, January 20th. Finally, Zacks Research upgraded shares of Novanta from a “strong sell” rating to a “hold” rating in a research note on Friday, January 16th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $150.00.

Insider Activity

In related news, CFO Robert Buckley sold 9,957 shares of Novanta stock in a transaction dated 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 $11,281,850.32. This trade represents a 9.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthijs Glastra sold 7,500 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $145.04, for a total transaction of $1,087,800.00. Following the completion of the transaction, the chief executive officer owned 57,367 shares in the company, valued at approximately $8,320,509.68. This trade represents a 11.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,303 shares of company stock valued at $4,545,416 over the last three months. 1.20% of the stock is currently owned by insiders.

Novanta Stock Performance

Shares of NASDAQ:NOVT opened at $119.33 on Thursday. 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 business’s fifty day moving average price is $135.24 and its two-hundred day moving average price is $121.21. Novanta Inc. has a fifty-two week low of $98.27 and a fifty-two week high of $149.95. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 81.73 and a beta of 1.61.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings data 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 return on equity of 13.12% and a net margin of 5.49%.The company had revenue of $258.35 million during the quarter, compared to analysts’ expectations of $260.72 million. During the same period last year, the business earned $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. As a group, analysts predict that Novanta Inc. will post 3.03 EPS for the current fiscal year.

About Novanta

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.