Champlain Investment Partners LLC Cuts Position in Novanta Inc. $NOVT

Champlain Investment Partners LLC lowered its holdings in Novanta Inc. (NASDAQ:NOVT) by 2.4% in the third quarter, Holdings Channel.com reports. The fund owned 678,249 shares of the technology company’s stock after selling 16,442 shares during the quarter. Champlain Investment Partners LLC’s holdings in Novanta were worth $67,927,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in NOVT. Congress Asset Management Co. purchased a new position in shares of Novanta in the 3rd quarter valued at about $59,153,000. Mawer Investment Management Ltd. increased its holdings in Novanta by 1,114.5% in the third quarter. Mawer Investment Management Ltd. now owns 391,148 shares of the technology company’s stock valued at $39,173,000 after buying an additional 358,941 shares in the last quarter. Norges Bank acquired a new stake in shares of Novanta during the 2nd quarter valued at approximately $29,982,000. Brown Advisory Inc. lifted its position in shares of Novanta by 8,526.6% during the 2nd quarter. Brown Advisory Inc. now owns 220,409 shares of the technology company’s stock valued at $28,417,000 after acquiring an additional 217,854 shares during the period. Finally, Bamco Inc. NY boosted its stake in shares of Novanta by 202.3% during the 2nd quarter. Bamco Inc. NY now owns 311,115 shares of the technology company’s stock worth $40,112,000 after acquiring an additional 208,188 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NOVT has been the subject of several research analyst reports. Weiss Ratings raised Novanta from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, January 20th. Zacks Research raised shares of Novanta from a “strong sell” rating to a “hold” rating in a research note on Friday, January 16th. Finally, Robert W. Baird set a $150.00 target price on shares of Novanta in a report on Wednesday, February 25th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $150.00.

Novanta Price Performance

NASDAQ:NOVT opened at $140.73 on Tuesday. Novanta Inc. has a 12-month low of $98.27 and a 12-month high of $149.95. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of 96.39 and a beta of 1.61. The company’s 50-day moving average is $133.75 and its two-hundred day moving average is $120.51. The company has a current ratio of 3.69, a quick ratio of 2.80 and a debt-to-equity ratio of 0.16.

Novanta (NASDAQ:NOVT) last issued its quarterly earnings results on Monday, February 23rd. The technology company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Novanta had a return on equity of 13.12% and a net margin of 5.49%.The company had revenue of $258.35 million for the quarter, compared to analyst estimates of $260.72 million. During the same quarter in the prior year, the company posted $0.76 EPS. 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 EPS for the current year.

Insider Activity at Novanta

In other Novanta news, CEO Matthijs Glastra sold 7,500 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $145.04, for a total transaction of $1,087,800.00. Following the transaction, the chief executive officer owned 57,367 shares of the company’s stock, valued at $8,320,509.68. This trade represents a 11.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert Buckley sold 1,423 shares of Novanta stock in a transaction on Friday, February 20th. The shares were sold at an average price of $140.88, for a total transaction of $200,472.24. Following the completion of the transaction, the chief financial officer owned 93,814 shares in the company, valued at approximately $13,216,516.32. This trade represents a 1.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,346 shares of company stock valued at $3,382,737 in the last ninety days. 1.20% of the stock is currently owned by company 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.