Novanta Inc. $NOVT Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC reduced its holdings in shares of Novanta Inc. (NASDAQ:NOVT) by 4.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,266 shares of the technology company’s stock after selling 8,061 shares during the period. Fred Alger Management LLC owned approximately 0.50% of Novanta worth $17,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its stake in shares of Novanta by 78.9% during the first quarter. AQR Capital Management LLC now owns 4,231 shares of the technology company’s stock worth $537,000 after acquiring an additional 1,866 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Novanta by 1.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 419,037 shares of the technology company’s stock worth $53,582,000 after purchasing an additional 6,533 shares in the last quarter. Jane Street Group LLC boosted its stake in Novanta by 1,762.5% in the 1st quarter. Jane Street Group LLC now owns 61,631 shares of the technology company’s stock worth $7,881,000 after purchasing an additional 58,322 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Novanta by 27.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,747 shares of the technology company’s stock worth $483,000 after purchasing an additional 815 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Novanta by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 919,666 shares of the technology company’s stock worth $118,585,000 after purchasing an additional 12,789 shares during the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Novanta Stock Performance

Shares of NASDAQ NOVT opened at $118.01 on Tuesday. The company has a 50 day simple moving average of $135.42 and a two-hundred day simple moving average of $121.19. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 80.83 and a beta of 1.61. The company has a current ratio of 3.69, a quick ratio of 2.80 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.

Novanta (NASDAQ:NOVT) last released its quarterly earnings data on Monday, February 23rd. The technology company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Novanta had a net margin of 5.49% and a return on equity of 13.12%. The firm had revenue of $258.35 million for the quarter, compared to analyst estimates of $260.72 million. During the same quarter 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. As a group, analysts predict that Novanta Inc. will post 3.03 earnings per share for the current year.

Insider Activity

In other news, CFO Robert Buckley sold 1,423 shares of the company’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $140.88, for a total value of $200,472.24. Following the sale, the chief financial officer owned 93,814 shares in the company, valued at $13,216,516.32. This represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthijs Glastra sold 7,500 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $8,320,509.68. This trade represents a 11.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,346 shares of company stock worth $3,382,737 over the last ninety days. 1.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on NOVT shares. 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 Novanta in a research report on Wednesday, February 25th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $150.00.

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.