Gibbs Wealth Management Buys 7,814 Shares of Novanta Inc. $NOVT

Gibbs Wealth Management grew its position in shares of Novanta Inc. (NASDAQ:NOVT) by 156.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,806 shares of the technology company’s stock after acquiring an additional 7,814 shares during the quarter. Gibbs Wealth Management’s holdings in Novanta were worth $1,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Novanta by 75.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,399,462 shares of the technology company’s stock valued at $155,536,000 after purchasing an additional 604,055 shares during the last quarter. GW&K Investment Management LLC lifted its position in shares of Novanta by 187.3% during the fourth quarter. GW&K Investment Management LLC now owns 736,954 shares of the technology company’s stock valued at $87,691,000 after purchasing an additional 480,413 shares in the last quarter. Sculptor Capital LP purchased a new position in Novanta during the fourth quarter worth about $51,265,000. Norges Bank purchased a new position in Novanta during the fourth quarter worth about $50,719,000. Finally, Schroder Investment Management Group grew its position in Novanta by 206.1% in the 4th quarter. Schroder Investment Management Group now owns 600,146 shares of the technology company’s stock worth $72,540,000 after purchasing an additional 404,097 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Novanta Trading Down 1.4%

Shares of Novanta stock opened at $143.26 on Friday. The firm has a market cap of $5.41 billion, a PE ratio of 103.81 and a beta of 1.67. Novanta Inc. has a 1 year low of $98.27 and a 1 year high of $171.85. 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 stock has a fifty day moving average price of $155.86 and a 200-day moving average price of $140.09.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings results on Monday, May 11th. The technology company reported $0.81 earnings per share 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 the consensus estimate of $253.40 million. Novanta had a net margin of 5.35% and a return on equity of 12.06%. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned $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. Equities research analysts anticipate that Novanta Inc. will post 3.59 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Novanta in a research note on Wednesday, July 15th. Robert W. Baird set a $180.00 target price on Novanta in a research note on Tuesday, June 9th. Finally, Wall Street Zen raised Novanta from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $180.00.

Insider Buying and Selling

In other Novanta news, CEO Matthijs Glastra sold 6,500 shares of the business’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 transaction, the chief executive officer directly owned 29,761 shares in the company, valued at $4,795,389.93. The trade was a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.20% of the company’s stock.

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.