Magnetar Financial LLC Has $3.66 Million Position in Novanta Inc. $NOVT

Magnetar Financial LLC lifted its stake in Novanta Inc. (NASDAQ:NOVT) by 244.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 36,564 shares of the technology company’s stock after acquiring an additional 25,934 shares during the period. Magnetar Financial LLC’s holdings in Novanta were worth $3,662,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in NOVT. Pilgrim Partners Asia Pte Ltd bought a new position in Novanta during the third quarter valued at about $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Novanta during the 3rd quarter worth approximately $40,000. Harbor Investment Advisory LLC increased its position in shares of Novanta by 47.1% during the third quarter. Harbor Investment Advisory LLC now owns 987 shares of the technology company’s stock valued at $99,000 after purchasing an additional 316 shares during the period. Van ECK Associates Corp increased its position in shares of Novanta by 17.2% during the third quarter. Van ECK Associates Corp now owns 1,627 shares of the technology company’s stock valued at $163,000 after purchasing an additional 239 shares during the period. Finally, Inceptionr LLC acquired a new position in shares of Novanta in the second quarter valued at $213,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Novanta Price Performance

Novanta stock opened at $126.31 on Thursday. The business’s 50-day simple moving average is $135.16 and its 200 day simple moving average is $121.17. The company has a quick ratio of 2.80, a current ratio of 3.69 and a debt-to-equity ratio of 0.16. Novanta Inc. has a 12-month low of $98.27 and a 12-month high of $149.95. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 86.51 and a beta of 1.61.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings results on Monday, February 23rd. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. Novanta had a net margin of 5.49% and a return on equity of 13.12%. The company had revenue of $258.35 million during the quarter, compared to analyst estimates of $260.72 million. During the same quarter in the previous year, the business earned $0.76 EPS. 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, research analysts anticipate that Novanta Inc. will post 3.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

NOVT has been the topic of several analyst reports. Zacks Research raised shares of Novanta from a “strong sell” rating to a “hold” rating in a report on Friday, January 16th. Weiss Ratings raised shares of Novanta from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 20th. Finally, Robert W. Baird set a $150.00 target price on shares of Novanta in a research note on Wednesday, February 25th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $150.00.

Insider Transactions at Novanta

In other news, CEO Matthijs Glastra sold 7,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 57,367 shares of the company’s stock, valued at $8,320,509.68. This trade represents a 11.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Robert Buckley sold 1,423 shares of Novanta stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $140.88, for a total value of $200,472.24. Following the transaction, the chief financial officer owned 93,814 shares of the company’s stock, valued at $13,216,516.32. This represents a 1.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 24,346 shares of company stock worth $3,382,737. 1.20% of the stock is owned by insiders.

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.