Champlain Investment Partners LLC Has $76.24 Million Stock Holdings in Novanta Inc. $NOVT

Key Points

• Champlain Investment Partners LLC increased its stake in Novanta Inc. by 45.6%, now holding a total of 596,190 shares valued at approximately $76.24 million.
• Novanta reported $0.76 earnings per share (EPS), exceeding analysts' expectations of $0.74, alongside a revenue of $241.05 million for the quarter.
• Analysts have downgraded Novanta's stock rating to "Hold", with a revised price target of $133.00, down from $139.00.

Champlain Investment Partners LLC grew its position in Novanta Inc. (NASDAQ:NOVT - Free Report) by 45.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 596,190 shares of the technology company's stock after purchasing an additional 186,848 shares during the quarter. Champlain Investment Partners LLC owned approximately 1.66% of Novanta worth $76,235,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. State of Michigan Retirement System boosted its stake in shares of Novanta by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 8,600 shares of the technology company's stock valued at $1,100,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Novanta by 1.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 10,100 shares of the technology company's stock valued at $1,291,000 after purchasing an additional 100 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Novanta by 4.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,376 shares of the technology company's stock valued at $304,000 after purchasing an additional 103 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Novanta by 2.6% in the 1st quarter. State of Alaska Department of Revenue now owns 4,201 shares of the technology company's stock valued at $537,000 after purchasing an additional 105 shares during the last quarter. Finally, State of Wyoming boosted its stake in shares of Novanta by 4.4% in the 4th quarter. State of Wyoming now owns 2,536 shares of the technology company's stock valued at $387,000 after purchasing an additional 106 shares during the last quarter. 98.35% of the stock is owned by institutional investors.

Novanta Stock Down 1.4%

Shares of Novanta stock traded down $1.66 during trading on Monday, reaching $116.41. 398,925 shares of the company traded hands, compared to its average volume of 470,122. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.62. Novanta Inc. has a 1-year low of $98.76 and a 1-year high of $186.14. The company has a 50 day moving average price of $123.48 and a 200-day moving average price of $125.82. The firm has a market capitalization of $4.19 billion, a PE ratio of 68.48 and a beta of 1.50.

Novanta (NASDAQ:NOVT - Get Free Report) last released its earnings results on Tuesday, August 5th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.02. Novanta had a net margin of 6.41% and a return on equity of 14.70%. The company had revenue of $241.05 million for the quarter, compared to the consensus estimate of $237.97 million. During the same quarter in the previous year, the company earned $0.73 EPS. Novanta's quarterly revenue was up 2.2% compared to the same quarter last year. Novanta has set its FY 2025 guidance at 3.220-3.360 EPS. Q3 2025 guidance at 0.780-0.850 EPS. As a group, equities research analysts expect that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NOVT shares. Robert W. Baird dropped their target price on shares of Novanta from $139.00 to $133.00 and set a "neutral" rating on the stock in a research report on Monday, August 11th. Wall Street Zen downgraded shares of Novanta from a "buy" rating to a "hold" rating in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $133.00.

About Novanta

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.