Novanta (NASDAQ:NOVT) Rating Increased to Outperform at Robert W. Baird

Robert W. Baird upgraded shares of Novanta (NASDAQ:NOVT) from a neutral rating to an outperform rating in a report released on Monday, Marketbeat Ratings reports. The firm currently has $144.00 price target on the technology company’s stock, down from their previous price target of $150.00.

A number of other analysts also recently issued reports on NOVT. Zacks Research raised Novanta from a “strong sell” rating to a “hold” rating in a research note on Friday, January 16th. Weiss Ratings raised shares of Novanta from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, January 20th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Novanta has an average rating of “Hold” and an average price target of $144.00.

Novanta Trading Down 0.1%

Shares of Novanta stock opened at $113.09 on Monday. The stock has a market cap of $4.04 billion, a P/E ratio of 77.46 and a beta of 1.61. The stock’s 50 day simple moving average is $132.80 and its 200-day simple moving average is $121.33. Novanta has a 1-year low of $98.27 and a 1-year 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.

Novanta (NASDAQ:NOVT) last posted its quarterly 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 return on equity of 13.12% and a net margin of 5.49%.The business had revenue of $258.35 million during the quarter, compared to analyst estimates of $260.72 million. During the same period in the prior 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. Analysts predict that Novanta will post 3.03 EPS for the current fiscal year.

Insider Activity at Novanta

In related news, CFO Robert Buckley sold 9,957 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $116.77, for a total value of $1,162,678.89. Following the completion of the transaction, the chief financial officer directly owned 96,616 shares in the company, valued at approximately $11,281,850.32. This represents a 9.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Matthijs Glastra sold 7,500 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $145.04, for a total value of $1,087,800.00. Following the sale, the chief executive officer directly owned 57,367 shares of the company’s stock, valued at approximately $8,320,509.68. This trade represents a 11.56% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 34,303 shares of company stock worth $4,545,416. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Novanta

Hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC increased its position in shares of Novanta by 1,355.6% during the 4th quarter. Hsbc Holdings PLC now owns 185,155 shares of the technology company’s stock worth $21,964,000 after purchasing an additional 172,435 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in Novanta by 155.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 662 shares of the technology company’s stock valued at $79,000 after buying an additional 403 shares during the last quarter. Corient Private Wealth LLC purchased a new position in Novanta during the fourth quarter worth about $275,000. Invesco Ltd. boosted its stake in Novanta by 9.0% during the fourth quarter. Invesco Ltd. now owns 68,089 shares of the technology company’s stock worth $8,102,000 after buying an additional 5,600 shares during the period. Finally, Alberta Investment Management Corp acquired a new stake in shares of Novanta during the fourth quarter valued at about $1,285,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

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.