Fintel reports that on March 30, 2026, Baird upgraded their outlook for Novanta (NasdaqGS:NOVT) from Neutral to Outperform.
Analyst Price Forecast Suggests 43.78% Upside
As of March 27, 2026, the average one-year price target for Novanta is $162.69/share. The forecasts range from a low of $151.50 to a high of $178.50. The average price target represents an increase of 43.78% from its latest reported closing price of $113.15 / share.
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The projected annual revenue for Novanta is 992MM, an increase of 1.13%. The projected annual non-GAAP EPS is 4.78.
What is the Fund Sentiment?
There are 342 funds or institutions reporting positions in Novanta. This is an decrease of 352 owner(s) or 50.72% in the last quarter. Average portfolio weight of all funds dedicated to NOVT is 0.12%, an increase of 43.78%. Total shares owned by institutions decreased in the last three months by 18.94% to 37,501K shares. 
The put/call ratio of NOVT is 3.90, indicating a bearish outlook.
What are Other Shareholders Doing?
Conestoga Capital Advisors holds 1,458K shares representing 4.09% ownership of the company. In its prior filing, the firm reported owning 1,411K shares , representing an increase of 3.26%. The firm increased its portfolio allocation in NOVT by 28.78% over the last quarter.
Allspring Global Investments Holdings holds 1,399K shares representing 3.92% ownership of the company. In its prior filing, the firm reported owning 795K shares , representing an increase of 43.16%. The firm increased its portfolio allocation in NOVT by 73.49% over the last quarter.
Bamco holds 937K shares representing 2.63% ownership of the company. In its prior filing, the firm reported owning 627K shares , representing an increase of 33.07%. The firm increased its portfolio allocation in NOVT by 81.38% over the last quarter.
William Blair Investment Management holds 909K shares representing 2.55% ownership of the company. In its prior filing, the firm reported owning 961K shares , representing a decrease of 5.68%. The firm increased its portfolio allocation in NOVT by 21.27% over the last quarter.
Geode Capital Management holds 905K shares representing 2.54% ownership of the company. In its prior filing, the firm reported owning 905K shares , representing a decrease of 0.06%. The firm increased its portfolio allocation in NOVT by 14.87% over the last quarter.
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This story originally appeared on Fintel.
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