Bessemer Group Inc. Increases Stock Holdings in Novanta Inc. $NOVT

Bessemer Group Inc. increased its stake in shares of Novanta Inc. (NASDAQ:NOVT) by 32.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 211,004 shares of the technology company’s stock after acquiring an additional 51,360 shares during the quarter. Bessemer Group Inc.’s holdings in Novanta were worth $24,923,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Fifth Third Bancorp lifted its stake in Novanta by 12.8% during the 1st quarter. Fifth Third Bancorp now owns 778 shares of the technology company’s stock valued at $92,000 after acquiring an additional 88 shares in the last quarter. Assetmark Inc. boosted its holdings in Novanta by 22.4% during the 4th quarter. Assetmark Inc. now owns 541 shares of the technology company’s stock worth $64,000 after acquiring an additional 99 shares during the last quarter. State of Michigan Retirement System boosted its holdings in Novanta by 1.2% during the 1st quarter. State of Michigan Retirement System now owns 8,600 shares of the technology company’s stock worth $1,016,000 after acquiring an additional 100 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of Novanta by 9.0% in the 1st quarter. HB Wealth Management LLC now owns 1,989 shares of the technology company’s stock worth $235,000 after acquiring an additional 164 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its stake in shares of Novanta by 10.4% in the 1st quarter. Sanctuary Advisors LLC now owns 2,373 shares of the technology company’s stock worth $280,000 after acquiring an additional 224 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Novanta Stock Down 0.6%

Shares of NASDAQ:NOVT opened at $148.71 on Friday. The company has a market capitalization of $5.62 billion, a PE ratio of 107.76 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.56 and a quick ratio of 2.69. The business has a fifty day moving average price of $156.51 and a two-hundred day moving average price of $139.22. Novanta Inc. has a 1 year low of $98.27 and a 1 year high of $171.85.

Novanta (NASDAQ:NOVT) last released its 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. The company 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%.The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous 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. Analysts forecast that Novanta Inc. will post 3.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently 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. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novanta in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of Novanta from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $180.00.

Insider Transactions at Novanta

In related news, CEO Matthijs Glastra sold 6,500 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $161.13, for a total transaction of $1,047,345.00. Following the completion of the sale, the chief executive officer owned 29,761 shares in the company, valued at approximately $4,795,389.93. This trade represents a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.20% of the company’s stock.

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.