Tidal Investments LLC Purchases 29,793 Shares of Novanta Inc. $NOVT

Tidal Investments LLC increased its position in shares of Novanta Inc. (NASDAQ:NOVT) by 615.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,631 shares of the technology company’s stock after purchasing an additional 29,793 shares during the quarter. Tidal Investments LLC’s holdings in Novanta were worth $5,619,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Engineers Gate Manager LP acquired a new position in Novanta in the second quarter valued at about $260,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Novanta during the second quarter worth approximately $63,000. NewEdge Advisors LLC increased its holdings in shares of Novanta by 15.6% during the second quarter. NewEdge Advisors LLC now owns 3,455 shares of the technology company’s stock worth $561,000 after buying an additional 465 shares in the last quarter. Baird Financial Group Inc. bought a new position in shares of Novanta in the second quarter valued at approximately $212,000. Finally, Nykredit A S bought a new position in shares of Novanta in the second quarter valued at approximately $222,000. 98.35% of the stock is owned by institutional investors.

Insider Transactions at Novanta

In related news, CEO Matthijs Glastra sold 6,500 shares of Novanta stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $161.13, for a total value of $1,047,345.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is currently owned by corporate insiders.

Novanta Stock Performance

Shares of Novanta stock opened at $146.56 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.57 and a quick ratio of 3.79. The firm has a 50 day simple moving average of $149.84 and a 200 day simple moving average of $143.47. Novanta Inc. has a fifty-two week low of $98.27 and a fifty-two week high of $176.38. The firm has a market cap of $5.54 billion, a P/E ratio of 93.95 and a beta of 1.67.

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

Analyst Upgrades and Downgrades

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

Novanta Profile

Novanta Inc is a technology company that develops and supplies equipment and components used in medical and advanced industrial applications. The company primarily serves original equipment manufacturers, integrating its technologies into systems used by healthcare providers, life sciences organizations and industrial customers.

Novanta’s product portfolio includes medical technologies such as surgical visualization systems, insufflation and fluid-management equipment, and other components used in minimally invasive procedures.