Novanta Inc. $NOVT is Conestoga Capital Advisors LLC’s 6th Largest Position

Conestoga Capital Advisors LLC lessened its holdings in Novanta Inc. (NASDAQ:NOVT) by 0.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,449,815 shares of the technology company’s stock after selling 8,444 shares during the period. Novanta comprises approximately 3.4% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 6th biggest position. Conestoga Capital Advisors LLC’s holdings in Novanta were worth $171,238,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Allspring Global Investments Holdings LLC raised its position in Novanta by 75.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,399,462 shares of the technology company’s stock valued at $155,536,000 after buying an additional 604,055 shares during the period. State Street Corp boosted its position in Novanta by 1.0% during the 4th quarter. State Street Corp now owns 1,319,474 shares of the technology company’s stock worth $157,004,000 after acquiring an additional 13,603 shares during the period. Wasatch Advisors LP grew its stake in Novanta by 10.6% during 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 in the last quarter. Bamco Inc. NY grew its stake in Novanta by 49.4% during the 4th quarter. Bamco Inc. NY now owns 936,962 shares of the technology company’s stock valued at $111,489,000 after acquiring an additional 309,869 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Novanta by 3.8% in the 4th quarter. JPMorgan Chase & Co. now owns 781,562 shares of the technology company’s stock valued at $92,998,000 after purchasing an additional 28,451 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insider Activity

In related news, CEO Matthijs Glastra sold 7,500 shares of Novanta stock in a transaction 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. The trade was a 14.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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.

Novanta Trading Up 0.9%

NASDAQ:NOVT opened at $163.70 on Thursday. The company has a market capitalization of $6.18 billion, a P/E ratio of 118.62 and a beta of 1.67. The stock’s 50 day moving average price is $151.63 and its 200 day moving average price is $136.65. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.69 and a current ratio of 3.56. Novanta Inc. has a 52 week low of $98.27 and a 52 week high of $171.85.

Novanta (NASDAQ:NOVT) last posted its earnings results on Monday, May 11th. The technology company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. The firm had revenue of $257.71 million during the quarter, compared to analysts’ expectations of $253.40 million. Novanta had a net margin of 5.35% and a return on equity of 12.06%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 earnings per share. 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, research analysts forecast that Novanta Inc. will post 3.59 EPS for the current fiscal year.

Analyst Ratings Changes

NOVT has been the subject of a number of research analyst reports. Robert W. Baird set a $180.00 price target on shares of Novanta in a research report on Tuesday, June 9th. Wall Street Zen raised shares of Novanta from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Novanta in a research note on Friday, April 17th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Novanta has an average rating of “Hold” and an average price target of $180.00.

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.