Novanta Inc. (NASDAQ:NOVT) Shares Sold by Champlain Investment Partners LLC

Champlain Investment Partners LLC decreased its position in shares of Novanta Inc. (NASDAQ:NOVT) by 11.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 409,342 shares of the technology company’s stock after selling 52,760 shares during the period. Champlain Investment Partners LLC’s holdings in Novanta were worth $62,535,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System grew its holdings in Novanta by 0.7% in the 4th quarter. Arizona State Retirement System now owns 10,412 shares of the technology company’s stock valued at $1,591,000 after buying an additional 76 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in Novanta by 5.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,687 shares of the technology company’s stock worth $258,000 after purchasing an additional 90 shares during the period. Huntington National Bank boosted its holdings in shares of Novanta by 53.6% in the 4th quarter. Huntington National Bank now owns 430 shares of the technology company’s stock valued at $66,000 after purchasing an additional 150 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Novanta during the 4th quarter valued at $26,000. Finally, Moran Wealth Management LLC increased its holdings in shares of Novanta by 9.4% during the 4th quarter. Moran Wealth Management LLC now owns 3,241 shares of the technology company’s stock worth $495,000 after buying an additional 278 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Novanta Price Performance

NOVT opened at $114.02 on Thursday. Novanta Inc. has a 52-week low of $98.76 and a 52-week high of $187.12. The company has a 50 day moving average of $132.64 and a two-hundred day moving average of $152.73. The company has a market cap of $4.10 billion, a P/E ratio of 68.28 and a beta of 1.42. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61.

Novanta (NASDAQ:NOVT) last announced its quarterly earnings results on Tuesday, February 25th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. The firm had revenue of $238.10 million during the quarter, compared to the consensus estimate of $240.29 million. Novanta had a return on equity of 15.20% and a net margin of 6.52%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 EPS. On average, analysts expect that Novanta Inc. will post 3.03 earnings per share for the current year.

Analyst Ratings Changes

Separately, Robert W. Baird cut their price objective on Novanta from $169.00 to $160.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd.

Novanta Company Profile

Novanta, Inc engages in the provision of core technology solutions to healthcare and advanced industrial original equipment manufacturers. It operates through the following segments: Photonics, Vision, and Precision Motion. The Photonics segment designs, manufactures, and markets photonics-based solutions, including laser scanning and laser beam delivery, CO2 laser, continuous wave and ultrafast laser, and optical light engine products.