Gibbs Wealth Management Buys 7,814 Shares of Novanta Inc. $NOVT

Gibbs Wealth Management boosted its stake in Novanta Inc. (NASDAQ:NOVT) by 156.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,806 shares of the technology company’s stock after purchasing an additional 7,814 shares during the quarter. Gibbs Wealth Management’s holdings in Novanta were worth $1,513,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 purchasing an additional 604,055 shares during the period. GW&K Investment Management LLC grew its stake in shares of Novanta by 187.3% in the 4th quarter. GW&K Investment Management LLC now owns 736,954 shares of the technology company’s stock valued at $87,691,000 after buying an additional 480,413 shares during the period. Sculptor Capital LP acquired a new stake in shares of Novanta in the 4th quarter valued at about $51,265,000. Norges Bank bought a new stake in Novanta in the 4th quarter valued at about $50,719,000. Finally, Schroder Investment Management Group increased its position in Novanta by 206.1% in the 4th quarter. Schroder Investment Management Group now owns 600,146 shares of the technology company’s stock valued at $72,540,000 after buying an additional 404,097 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

NOVT has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novanta in a research note on Wednesday, July 15th. Robert W. Baird set a $180.00 price objective on Novanta in a research note on Tuesday, June 9th. Finally, Wall Street Zen raised Novanta from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $180.00.

Novanta Stock Down 1.4%

Novanta stock opened at $143.26 on Friday. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 103.81 and a beta of 1.67. The firm’s fifty day moving average price is $155.86 and its two-hundred day moving average price is $140.09. Novanta Inc. has a 1-year low of $98.27 and a 1-year high of $171.85. The company has a current ratio of 3.56, a quick ratio of 2.69 and a debt-to-equity ratio of 0.15.

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

Insider Transactions at Novanta

In other Novanta news, CEO Matthijs Glastra sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $150.43, for a total transaction of $1,128,225.00. Following the completion of the sale, the chief executive officer directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.20% of the company’s stock.

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.