Fred Alger Management LLC Cuts Stock Holdings in Novanta Inc. $NOVT

Fred Alger Management LLC reduced its position in Novanta Inc. (NASDAQ:NOVT) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,266 shares of the technology company’s stock after selling 8,061 shares during the period. Fred Alger Management LLC’s holdings in Novanta were worth $17,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in Novanta by 78.9% during the first quarter. AQR Capital Management LLC now owns 4,231 shares of the technology company’s stock valued at $537,000 after buying an additional 1,866 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Novanta by 1.6% in the first quarter. Goldman Sachs Group Inc. now owns 419,037 shares of the technology company’s stock worth $53,582,000 after acquiring an additional 6,533 shares during the period. Jane Street Group LLC boosted its stake in shares of Novanta by 1,762.5% during the 1st quarter. Jane Street Group LLC now owns 61,631 shares of the technology company’s stock worth $7,881,000 after acquiring an additional 58,322 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Novanta by 27.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,747 shares of the technology company’s stock worth $483,000 after acquiring an additional 815 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Novanta by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 919,666 shares of the technology company’s stock valued at $118,585,000 after acquiring an additional 12,789 shares during the period. 98.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NOVT shares. Weiss Ratings upgraded Novanta from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, January 20th. Zacks Research raised Novanta from a “strong sell” rating to a “hold” rating in a report on Friday, January 16th. Finally, Robert W. Baird set a $150.00 price objective on Novanta in a research report on Wednesday, February 25th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $150.00.

Novanta Trading Up 1.1%

Shares of NOVT stock opened at $118.01 on Tuesday. Novanta Inc. has a fifty-two week low of $98.27 and a fifty-two week high of $149.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.80 and a current ratio of 3.69. The stock’s fifty day moving average is $135.42 and its two-hundred day moving average is $121.19. The firm has a market capitalization of $4.21 billion, a P/E ratio of 80.83 and a beta of 1.61.

Novanta (NASDAQ:NOVT) last released its earnings results on Monday, February 23rd. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $258.35 million during the quarter, compared to analyst estimates of $260.72 million. Novanta had a net margin of 5.49% and a return on equity of 13.12%. During the same quarter in the prior year, the firm earned $0.76 earnings per share. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q1 2026 guidance at 0.750-0.800 EPS. Research analysts expect that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

Insider Activity

In other Novanta news, CFO Robert Buckley sold 1,423 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $140.88, for a total value of $200,472.24. Following the completion of the sale, the chief financial officer owned 93,814 shares in the company, valued at approximately $13,216,516.32. This represents a 1.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthijs Glastra sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $145.04, for a total transaction of $1,087,800.00. Following the completion of the transaction, the chief executive officer directly owned 57,367 shares in the company, valued at $8,320,509.68. This trade represents a 11.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 24,346 shares of company stock valued at $3,382,737. 1.20% of the stock is owned by corporate 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.