Allspring Global Investments Holdings LLC Grows Stock Position in Novanta Inc. $NOVT

Allspring Global Investments Holdings LLC lifted its holdings in Novanta Inc. (NASDAQ:NOVT) by 27.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,776,694 shares of the technology company’s stock after purchasing an additional 377,232 shares during the period. Allspring Global Investments Holdings LLC owned about 4.99% of Novanta worth $210,307,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Danske Bank A S bought a new stake in Novanta during the third quarter valued at about $40,000. Allworth Financial LP increased its holdings in Novanta by 978.4% in the 4th quarter. Allworth Financial LP now owns 399 shares of the technology company’s stock worth $47,000 after acquiring an additional 362 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Novanta by 120.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the technology company’s stock worth $51,000 after acquiring an additional 233 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in Novanta during the 4th quarter worth approximately $53,000. Finally, Farther Finance Advisors LLC raised its stake in 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 acquiring an additional 452 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insider Transactions at Novanta

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

Novanta Stock Performance

NOVT opened at $149.67 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.69 and a current ratio of 3.56. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of 108.46 and a beta of 1.67. The company has a fifty day moving average of $156.30 and a 200 day moving average of $139.15. Novanta Inc. has a fifty-two week low of $98.27 and a fifty-two week high of $171.85.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings results on Monday, May 11th. The technology company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.78 by $0.03. Novanta had a net margin of 5.35% and a return on equity of 12.06%. The business had revenue of $257.71 million for the quarter, compared to analysts’ expectations of $253.40 million. During the same quarter in the previous year, the company earned $0.74 EPS. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q2 2026 guidance at 0.810-0.860 EPS. As a group, sell-side analysts forecast that Novanta Inc. will post 3.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Robert W. Baird set a $180.00 price target on shares of Novanta in a research report on Tuesday, June 9th. Wall Street Zen upgraded shares of Novanta from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novanta in a report on Friday, April 17th. One equities 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 presently has a consensus rating of “Hold” and a consensus target price of $180.00.

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.