Bessemer Group Inc. Acquires 51,360 Shares of Novanta Inc. $NOVT

Bessemer Group Inc. lifted its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 32.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 211,004 shares of the technology company’s stock after buying an additional 51,360 shares during the quarter. Bessemer Group Inc. owned about 0.59% of Novanta worth $24,923,000 as of its most recent filing with the Securities & Exchange Commission.

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

Novanta Stock Performance

NASDAQ NOVT opened at $148.71 on Friday. The company has a market cap of $5.62 billion, a P/E ratio of 107.76 and a beta of 1.67. The company has a fifty day simple moving average of $156.51 and a 200 day simple moving average of $139.22. The company has a current ratio of 3.56, a quick ratio of 2.69 and a debt-to-equity ratio of 0.15. Novanta Inc. has a 12-month low of $98.27 and a 12-month high of $171.85.

Novanta (NASDAQ:NOVT) last released its quarterly earnings data on Monday, May 11th. The technology company reported $0.81 earnings per share 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 firm had revenue of $257.71 million for the quarter, compared to the consensus estimate of $253.40 million. During the same quarter in the prior year, the company posted $0.74 earnings per share. The business’s revenue was up 10.4% on a year-over-year basis. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q2 2026 guidance at 0.810-0.860 EPS. Sell-side analysts predict 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 recently issued reports on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Novanta in a research report on Wednesday. Robert W. Baird set a $180.00 target price on Novanta in a research report on Tuesday, June 9th. Finally, Wall Street Zen raised Novanta from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Novanta has an average rating of “Hold” and a consensus price target of $180.00.

Insider Activity at Novanta

In related news, CEO Matthijs Glastra sold 6,500 shares of the company’s 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 sale, the chief executive officer owned 29,761 shares in the company, valued at $4,795,389.93. This represents a 17.93% decrease in their position. 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 insiders.

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.