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

WCM Investment Management LLC lowered its holdings in Novanta Inc. (NASDAQ:NOVT) by 4.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 186,832 shares of the technology company’s stock after selling 9,664 shares during the quarter. WCM Investment Management LLC owned 0.52% of Novanta worth $21,129,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NOVT. Summit Creek Advisors LLC raised its stake in Novanta by 47.5% during the 4th quarter. Summit Creek Advisors LLC now owns 73,673 shares of the technology company’s stock valued at $8,766,000 after purchasing an additional 23,712 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Novanta by 75.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,399,462 shares of the technology company’s stock worth $155,536,000 after purchasing an additional 604,055 shares during the last quarter. Legal & General Group Plc grew its position in Novanta by 7.8% in the 4th quarter. Legal & General Group Plc now owns 207,053 shares of the technology company’s stock worth $24,637,000 after purchasing an additional 14,969 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Novanta by 337.2% during the 4th quarter. Truist Financial Corp now owns 9,963 shares of the technology company’s stock worth $1,185,000 after purchasing an additional 7,684 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Novanta by 484.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 48,336 shares of the technology company’s stock worth $5,752,000 after purchasing an additional 40,071 shares during the period. 98.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on NOVT shares. Robert W. Baird set a $180.00 price target on Novanta in a research note on Tuesday, June 9th. Wall Street Zen raised shares of Novanta from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Novanta in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $180.00.

Novanta Price Performance

NASDAQ:NOVT opened at $148.71 on Monday. Novanta Inc. has a 1-year low of $98.27 and a 1-year high of $171.85. The stock has a market capitalization of $5.62 billion, a PE ratio of 107.76 and a beta of 1.67. The firm has a fifty day simple moving average of $156.51 and a 200 day simple moving average of $139.33. The company has a current ratio of 3.56, a quick ratio of 2.69 and a debt-to-equity ratio of 0.15.

Novanta (NASDAQ:NOVT) last released its earnings results on Monday, May 11th. The technology company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.78 by $0.03. The business had revenue of $257.71 million during the quarter, compared to analysts’ expectations of $253.40 million. Novanta had a return on equity of 12.06% and a net margin of 5.35%.The firm’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 earnings per share. 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, research analysts expect that Novanta Inc. will post 3.59 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Matthijs Glastra sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $150.43, for a total value of $1,128,225.00. Following the transaction, the chief executive officer owned 42,761 shares of the company’s stock, valued at approximately $6,432,537.23. This trade represents a 14.92% decrease in their position. The sale was disclosed in a legal filing 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. Insiders own 1.20% of the company’s stock.

About Novanta

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.