Novanta (NASDAQ:NOVT) Upgraded at Wall Street Zen
by Teresa Graham · The Cerbat GemWall Street Zen upgraded shares of Novanta (NASDAQ:NOVT – Free Report) from a hold rating to a buy rating in a research note issued to investors on Sunday morning.
A number of other equities research analysts have also issued reports on the company. Robert W. Baird set a $194.00 target price on Novanta in a research report on Friday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novanta in a research report on Wednesday, July 15th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $194.00.
View Our Latest Research Report on Novanta
Novanta Price Performance
NOVT stock opened at $167.71 on Friday. The stock has a 50-day moving average price of $154.07 and a two-hundred day moving average price of $142.06. Novanta has a 1 year low of $98.27 and a 1 year high of $176.38. The stock has a market cap of $6.34 billion, a PE ratio of 107.51 and a beta of 1.68. The company has a current ratio of 4.57, a quick ratio of 3.79 and a debt-to-equity ratio of 0.12.
Novanta (NASDAQ:NOVT – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.06. The company had revenue of $265.81 million for the quarter, compared to analyst estimates of $262.30 million. Novanta had a return on equity of 10.83% and a net margin of 6.00%.The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 earnings per share. Novanta has set its FY 2026 guidance at 3.680-3.740 EPS and its Q3 2026 guidance at 0.950-1.000 EPS. Equities analysts forecast that Novanta will post 3.7 EPS for the current fiscal year.
Insider Buying and Selling
In other Novanta news, CEO Matthijs Glastra sold 6,500 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $161.13, for a total transaction of $1,047,345.00. Following the sale, the chief executive officer directly owned 29,761 shares of the company’s stock, valued at $4,795,389.93. The trade was a 17.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by company insiders.
Hedge Funds Weigh In On Novanta
Several hedge funds have recently modified their holdings of NOVT. Callan Family Office LLC bought a new stake in Novanta during the second quarter worth about $727,000. Allworth Financial LP acquired a new position in Novanta during the second quarter valued at approximately $59,000. Diversify Advisory Services LLC bought a new position in Novanta in the second quarter valued at approximately $2,449,000. Summit Creek Advisors LLC bought a new position in Novanta in the second quarter valued at approximately $6,350,000. Finally, Deutsche Bank AG bought a new position in Novanta in the second quarter valued at approximately $14,992,000. Institutional investors own 98.35% of the company’s stock.
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.