Novanta (NASDAQ:NOVT) Hits New 12-Month High on Better-Than-Expected Earnings

Novanta Inc. (NASDAQ:NOVT)’s stock price hit a new 52-week high on Tuesday following a stronger than expected earnings report. The stock traded as high as $162.00 and last traded at $160.2420, with a volume of 220697 shares trading hands. The stock had previously closed at $139.98.

The technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.03. The firm had revenue of $257.71 million for the quarter, compared to the consensus estimate of $253.40 million. Novanta had a return on equity of 13.12% and a net margin of 5.49%.The firm’s revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 EPS. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q2 2026 guidance at 0.810-0.860 EPS.

Analyst Ratings Changes

Several brokerages have recently issued reports on NOVT. Robert W. Baird upgraded Novanta from a “neutral” rating to an “outperform” rating and reduced their price objective for the stock from $150.00 to $144.00 in a research note on Monday, March 30th. Zacks Research upgraded Novanta from a “strong sell” rating to a “hold” rating in a research note on Friday, January 16th. Wall Street Zen lowered Novanta from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novanta in a report on Friday, April 17th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $144.00.

Insider Buying and Selling at Novanta

In other news, CEO Matthijs Glastra sold 6,500 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $130.05, for a total transaction of $845,325.00. Following the completion of the sale, the chief executive officer owned 56,761 shares of the company’s stock, valued at $7,381,768.05. This represents a 10.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Buckley sold 9,957 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $116.77, for a total transaction 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 SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 17,880 shares of company stock worth $2,208,476. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NOVT. Fifth Third Bancorp grew its position in shares of Novanta by 12.8% in the first quarter. Fifth Third Bancorp now owns 778 shares of the technology company’s stock valued at $92,000 after purchasing an additional 88 shares in the last quarter. Assetmark Inc. boosted its stake in Novanta by 22.4% during the fourth quarter. Assetmark Inc. now owns 541 shares of the technology company’s stock worth $64,000 after buying an additional 99 shares during the last quarter. State of Michigan Retirement System boosted its stake in Novanta by 1.2% during the first quarter. State of Michigan Retirement System now owns 8,600 shares of the technology company’s stock worth $1,016,000 after buying an additional 100 shares during the last quarter. HB Wealth Management LLC grew its holdings in Novanta by 9.0% in the 1st quarter. HB Wealth Management LLC now owns 1,989 shares of the technology company’s stock valued at $235,000 after buying an additional 164 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in Novanta by 1.6% in the third quarter. Arizona State Retirement System now owns 10,632 shares of the technology company’s stock valued at $1,065,000 after buying an additional 171 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Novanta Price Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.80 and a current ratio of 3.69. The stock’s 50-day moving average is $126.00 and its two-hundred day moving average is $125.45. The stock has a market cap of $5.62 billion, a PE ratio of 109.07 and a beta of 1.62.

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.