5,257 Shares in Novanta Inc. $NOVT Purchased by Gibbs Wealth Management

Gibbs Wealth Management bought a new position in Novanta Inc. (NASDAQ:NOVT) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 5,257 shares of the technology company’s stock, valued at approximately $526,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of NOVT. Huntington National Bank boosted its position in shares of Novanta by 65.7% in the second quarter. Huntington National Bank now owns 492 shares of the technology company’s stock valued at $63,000 after acquiring an additional 195 shares during the period. M&T Bank Corp lifted its stake in Novanta by 6.6% in the 2nd quarter. M&T Bank Corp now owns 3,785 shares of the technology company’s stock worth $488,000 after purchasing an additional 236 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in Novanta by 0.6% in the 2nd quarter. Retirement Systems of Alabama now owns 43,964 shares of the technology company’s stock valued at $5,668,000 after purchasing an additional 244 shares during the period. Lindenwold Advisors INC boosted its holdings in Novanta by 18.2% in the 2nd quarter. Lindenwold Advisors INC now owns 1,915 shares of the technology company’s stock valued at $247,000 after purchasing an additional 295 shares during the period. Finally, Atria Investments Inc grew its position in shares of Novanta by 11.2% during the 2nd quarter. Atria Investments Inc now owns 3,031 shares of the technology company’s stock valued at $391,000 after purchasing an additional 305 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NOVT has been the topic of a number of recent analyst reports. Zacks Research upgraded Novanta from a “strong sell” rating to a “hold” rating in a research report on Friday, January 16th. Weiss Ratings raised Novanta from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Novanta has a consensus rating of “Hold” and a consensus target price of $133.00.

Insider Buying and Selling

In other Novanta news, CEO Matthijs Glastra sold 7,500 shares of the business’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $140.00, for a total value of $1,050,000.00. Following the completion of the sale, the chief executive officer directly owned 71,367 shares of the company’s stock, valued at $9,991,380. The trade was a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Robert Buckley sold 1,423 shares of the company’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $140.14, for a total transaction of $199,419.22. Following the sale, the chief financial officer owned 91,034 shares of the company’s stock, valued at approximately $12,757,504.76. The trade was a 1.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 15,423 shares of company stock valued at $2,094,464. Company insiders own 1.20% of the company’s stock.

Novanta Trading Down 0.3%

NASDAQ NOVT opened at $137.89 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.51 and a debt-to-equity ratio of 0.56. The stock’s 50-day simple moving average is $119.97 and its two-hundred day simple moving average is $117.44. Novanta Inc. has a twelve month low of $98.27 and a twelve month high of $153.20. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 93.80 and a beta of 1.60.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings data on Monday, November 3rd. The technology company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.81 by $0.06. The firm had revenue of $247.84 million for the quarter, compared to analyst estimates of $245.95 million. Novanta had a return on equity of 14.53% and a net margin of 5.50%.The company’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 EPS. Novanta has set its FY 2025 guidance at 3.240-3.300 EPS and its Q4 2025 guidance at 0.870-0.930 EPS. Research analysts forecast that Novanta Inc. will post 3.03 EPS for the current fiscal 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.