WCM Investment Management LLC Sells 9,664 Shares of Novanta Inc. $NOVT

WCM Investment Management LLC lowered its position in Novanta Inc. (NASDAQ:NOVT) by 4.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 186,832 shares of the technology company’s stock after selling 9,664 shares during the quarter. WCM Investment Management LLC’s holdings in Novanta were worth $21,129,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Novanta by 5.7% in the first quarter. Dimensional Fund Advisors LP now owns 631,806 shares of the technology company’s stock worth $74,616,000 after buying an additional 33,885 shares in the last quarter. Balefire LLC purchased a new position in Novanta during the first quarter valued at approximately $238,000. California Public Employees Retirement System increased its holdings in Novanta by 3.8% during the 1st quarter. California Public Employees Retirement System now owns 47,721 shares of the technology company’s stock worth $5,636,000 after acquiring an additional 1,740 shares during the period. Bessemer Group Inc. lifted its stake in Novanta by 32.2% in the 1st quarter. Bessemer Group Inc. now owns 211,004 shares of the technology company’s stock worth $24,923,000 after purchasing an additional 51,360 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Novanta by 27.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,776,694 shares of the technology company’s stock valued at $210,307,000 after buying an additional 377,232 shares during the period. 98.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NOVT has been the subject of several analyst reports. Robert W. Baird set a $180.00 target price on Novanta in a report on Tuesday, June 9th. Wall Street Zen raised shares of Novanta from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Novanta in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $180.00.

Novanta Stock Performance

Shares of NOVT opened at $148.71 on Monday. The firm has a market cap of $5.62 billion, a P/E ratio of 107.76 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 company has a 50 day simple moving average of $156.51 and a two-hundred day simple moving average of $139.33.

Novanta (NASDAQ:NOVT) last released its quarterly earnings data on Monday, May 11th. The technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. Novanta had a return on equity of 12.06% and a net margin of 5.35%.The business had revenue of $257.71 million for the quarter, compared to the consensus estimate of $253.40 million. During the same quarter in the previous year, the company posted $0.74 EPS. The company’s revenue was up 10.4% compared to the same quarter last year. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q2 2026 guidance at 0.810-0.860 EPS. On average, equities analysts expect that Novanta Inc. will post 3.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Matthijs Glastra sold 7,500 shares of Novanta stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $150.43, for a total value of $1,128,225.00. Following the completion of the transaction, the chief executive officer owned 42,761 shares in the company, valued at approximately $6,432,537.23. This trade represents a 14.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.20% of the company’s stock.

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.