Diversify Advisory Services LLC Purchases New Position in Novanta Inc. $NOVT

Diversify Advisory Services LLC acquired a new position in shares of Novanta Inc. (NASDAQ:NOVT) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 17,392 shares of the technology company’s stock, valued at approximately $2,449,000.

Several other large investors have also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC bought a new position in Novanta in the 2nd quarter valued at $54,000. Allworth Financial LP grew its holdings in shares of Novanta by 978.4% during the fourth quarter. Allworth Financial LP now owns 399 shares of the technology company’s stock worth $47,000 after purchasing an additional 362 shares during the last quarter. Danske Bank A S bought a new stake in shares of Novanta during the third quarter worth $40,000. EverSource Wealth Advisors LLC increased its stake in shares of 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 buying an additional 233 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in shares of Novanta in the fourth quarter valued at $53,000. 98.35% of the stock is owned by institutional investors.

Novanta Stock Down 6.9%

Shares of Novanta stock opened at $157.11 on Wednesday. The business has a fifty day simple moving average of $154.33 and a 200 day simple moving average of $143.01. The stock has a market cap of $5.94 billion, a PE ratio of 100.71 and a beta of 1.68. The company has a quick ratio of 3.79, a current ratio of 4.57 and a debt-to-equity ratio of 0.12. Novanta Inc. has a 12 month low of $98.27 and a 12 month high of $176.38.

Novanta (NASDAQ:NOVT) last released its earnings results on Wednesday, August 5th. The technology company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.06. Novanta had a return on equity of 10.83% and a net margin of 6.00%.The firm had revenue of $265.81 million for the quarter, compared to analyst estimates of $262.30 million. During the same quarter in the prior year, the firm posted $0.76 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. Novanta has set its FY 2026 guidance at 3.680-3.740 EPS and its Q3 2026 guidance at 0.950-1.000 EPS. Research analysts predict that Novanta Inc. will post 3.7 EPS for the current year.

Insider Activity at Novanta

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NOVT shares. Wall Street Zen upgraded shares of Novanta from a “hold” rating to a “buy” rating in a research report on Sunday, August 9th. Zacks Research raised shares of Novanta from a “hold” rating to a “strong-buy” rating in a report on Friday, August 14th. Robert W. Baird set a $194.00 price objective on shares of Novanta in a research report on Friday, August 7th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Novanta in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Novanta presently has an average rating of “Buy” and a consensus target price of $194.00.

Novanta 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.