Conestoga Capital Advisors LLC Cuts Position in Novanta Inc. $NOVT

Conestoga Capital Advisors LLC lessened its position in Novanta Inc. (NASDAQ:NOVT) by 0.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,449,815 shares of the technology company’s stock after selling 8,444 shares during the period. Novanta makes up 3.4% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 6th biggest position. Conestoga Capital Advisors LLC owned approximately 4.06% of Novanta worth $171,238,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NOVT. Danske Bank A S acquired a new position in shares of Novanta during the third quarter worth approximately $40,000. Allworth Financial LP lifted its holdings in Novanta by 978.4% in the fourth quarter. Allworth Financial LP now owns 399 shares of the technology company’s stock worth $47,000 after purchasing an additional 362 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Novanta by 120.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the technology company’s stock worth $51,000 after purchasing an additional 233 shares during the period. ANTIPODES PARTNERS Ltd acquired a new position in Novanta during the 4th quarter valued at about $53,000. Finally, Farther Finance Advisors LLC raised its position in shares of Novanta by 1,291.4% during the 4th quarter. Farther Finance Advisors LLC now owns 487 shares of the technology company’s stock worth $58,000 after buying an additional 452 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Novanta

In other news, CEO Matthijs Glastra sold 7,500 shares of Novanta stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $150.43, for a total value of $1,128,225.00. Following the transaction, the chief executive officer directly owned 42,761 shares of the company’s stock, valued at $6,432,537.23. This trade represents a 14.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is currently owned by company insiders.

Novanta Stock Up 0.9%

Shares of Novanta stock opened at $163.70 on Thursday. Novanta Inc. has a 12-month low of $98.27 and a 12-month high of $171.85. The firm has a market capitalization of $6.18 billion, a PE ratio of 118.62 and a beta of 1.67. The company has a quick ratio of 2.69, a current ratio of 3.56 and a debt-to-equity ratio of 0.15. The stock’s fifty day moving average is $151.63 and its 200-day moving average is $136.65.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings results on Monday, May 11th. The technology company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. The firm had revenue of $257.71 million for the quarter, compared to analysts’ expectations of $253.40 million. Novanta had a return on equity of 12.06% and a net margin of 5.35%.Novanta’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the business posted $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. Equities analysts anticipate that Novanta Inc. will post 3.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NOVT. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novanta in a research note on Friday, April 17th. Wall Street Zen raised Novanta from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Finally, Robert W. Baird set a $180.00 price target on shares of Novanta in a report on Tuesday, June 9th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $180.00.

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.