Bank of New York Mellon Corp Buys 75,738 Shares of Novanta Inc. $NOVT

Bank of New York Mellon Corp grew its stake in Novanta Inc. (NASDAQ:NOVT) by 33.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 302,611 shares of the technology company’s stock after buying an additional 75,738 shares during the quarter. Bank of New York Mellon Corp’s holdings in Novanta were worth $35,741,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NOVT. Summit Creek Advisors LLC grew its stake in shares of Novanta by 47.5% during the 4th quarter. Summit Creek Advisors LLC now owns 73,673 shares of the technology company’s stock valued at $8,766,000 after acquiring an additional 23,712 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Novanta by 75.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,399,462 shares of the technology company’s stock worth $155,536,000 after acquiring an additional 604,055 shares during the period. Legal & General Group Plc raised its stake in Novanta by 7.8% during the 4th quarter. Legal & General Group Plc now owns 207,053 shares of the technology company’s stock worth $24,637,000 after acquiring an additional 14,969 shares during the period. Truist Financial Corp lifted its holdings in Novanta by 337.2% during the fourth quarter. Truist Financial Corp now owns 9,963 shares of the technology company’s stock valued at $1,185,000 after purchasing an additional 7,684 shares in the last quarter. Finally, Tudor Investment Corp ET AL purchased a new position in Novanta during the third quarter valued at approximately $5,404,000. Institutional investors own 98.35% of the company’s stock.

Novanta Stock Performance

NASDAQ:NOVT opened at $141.54 on Friday. The stock has a 50-day moving average price of $155.63 and a 200 day moving average price of $140.10. The stock has a market capitalization of $5.34 billion, a P/E ratio of 102.57 and a beta of 1.67. Novanta Inc. has a 12-month low of $98.27 and a 12-month high of $171.85. 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 (NASDAQ:NOVT) last posted its quarterly earnings results on Monday, May 11th. The technology company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. Novanta had a return on equity of 12.06% and a net margin of 5.35%.The company had revenue of $257.71 million for the quarter, compared to analysts’ expectations of $253.40 million. During the same period in the previous year, the firm earned $0.74 EPS. The firm’s 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. Equities research analysts forecast that Novanta Inc. will post 3.59 EPS for the current fiscal year.

Analysts Set New Price Targets

NOVT has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Novanta from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Robert W. Baird set a $180.00 price objective on shares of Novanta in a research report on Tuesday, June 9th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Novanta in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Novanta has a consensus rating of “Hold” and an average price target of $180.00.

Insider Activity

In other news, CEO Matthijs Glastra sold 6,500 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer owned 29,761 shares of the company’s stock, valued at approximately $4,795,389.93. The trade was a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is currently owned by insiders.

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.