Commerce Bank Buys New Holdings in Novanta Inc. $NOVT

Commerce Bank purchased a new position in shares of Novanta Inc. (NASDAQ:NOVT) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 5,470 shares of the technology company’s stock, valued at approximately $887,000.

A number of other institutional investors have also recently bought and sold shares of the business. AQR Capital Management LLC raised its stake in Novanta by 78.9% in the first quarter. AQR Capital Management LLC now owns 4,231 shares of the technology company’s stock valued at $537,000 after buying an additional 1,866 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Novanta by 1.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 419,037 shares of the technology company’s stock worth $53,582,000 after acquiring an additional 6,533 shares during the period. Jane Street Group LLC increased its holdings in shares of Novanta by 1,762.5% during the 1st quarter. Jane Street Group LLC now owns 61,631 shares of the technology company’s stock worth $7,881,000 after acquiring an additional 58,322 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Novanta during the 2nd quarter worth approximately $528,000. Finally, Amundi increased its holdings in shares of Novanta by 2.0% during the 2nd quarter. Amundi now owns 18,042 shares of the technology company’s stock worth $2,397,000 after acquiring an additional 347 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Insider Buying and Selling

In other Novanta news, CEO Matthijs Glastra sold 6,500 shares of Novanta stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $161.13, for a total value of $1,047,345.00. Following the completion of the sale, the chief executive officer owned 29,761 shares in the company, valued at $4,795,389.93. The trade was a 17.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novanta in a report on Wednesday, July 15th. Robert W. Baird set a $194.00 price objective on shares of Novanta in a report on Friday, August 7th. Zacks Research upgraded shares of Novanta from a “hold” rating to a “strong-buy” rating in a report on Friday, August 14th. Finally, Wall Street Zen raised shares of Novanta from a “hold” rating to a “buy” rating in a research report on Sunday, August 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Novanta currently has a consensus rating of “Buy” and a consensus target price of $194.00.

Novanta Stock Up 3.1%

NOVT stock opened at $143.96 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.57 and a quick ratio of 3.79. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 92.28 and a beta of 1.68. The business’s fifty day moving average price is $152.72 and its two-hundred day moving average price is $143.32. Novanta Inc. has a fifty-two week low of $98.27 and a fifty-two week high of $176.38.

Novanta (NASDAQ:NOVT) last posted its earnings results on Wednesday, August 5th. The technology company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.06. The company had revenue of $265.81 million during the quarter, compared to the consensus estimate of $262.30 million. Novanta had a return on equity of 10.83% and a net margin of 6.00%.The company’s revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $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. On average, equities analysts anticipate that Novanta Inc. will post 3.7 earnings per share for the current year.

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.