Champlain Investment Partners LLC Acquires 186,848 Shares of 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 holdings in Novanta Inc. (NASDAQ:NOVT - Free Report) by 45.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 596,190 shares of the technology company's stock after acquiring an additional 186,848 shares during the period. Champlain Investment Partners LLC owned 1.66% of Novanta worth $76,235,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NOVT. Jump Financial LLC bought a new stake in shares of Novanta during the 1st quarter worth $1,307,000. SVB Wealth LLC bought a new stake in shares of Novanta during the 1st quarter worth $48,000. Advantage Alpha Capital Partners LP boosted its holdings in shares of Novanta by 163.8% during the 1st quarter. Advantage Alpha Capital Partners LP now owns 38,823 shares of the technology company's stock worth $4,964,000 after buying an additional 24,107 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Novanta by 1.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 693,090 shares of the technology company's stock worth $88,626,000 after buying an additional 12,921 shares during the period. Finally, Capital Fund Management S.A. bought a new stake in shares of Novanta during the 1st quarter worth $1,643,000. 98.35% of the stock is owned by institutional investors.

Novanta Trading Down 0.6%

Shares of NOVT stock opened at $117.97 on Wednesday. Novanta Inc. has a 52-week low of $98.76 and a 52-week high of $186.14. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of 69.39 and a beta of 1.48. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.62 and a current ratio of 2.54. The firm has a fifty day moving average of $123.73 and a 200-day moving average of $126.58.

Novanta (NASDAQ:NOVT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The technology company reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.02. The business had revenue of $241.05 million during the quarter, compared to analysts' expectations of $237.97 million. Novanta had a net margin of 6.41% and a return on equity of 14.70%. The firm's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $0.73 EPS. Novanta has set its FY 2025 guidance at 3.220-3.360 EPS. Q3 2025 guidance at 0.780-0.850 EPS. On average, equities research analysts forecast that Novanta Inc. will post 3.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Robert W. Baird decreased their price objective on shares of Novanta from $139.00 to $133.00 and set a "neutral" rating for the company in a report on Monday, August 11th. Wall Street Zen downgraded shares of Novanta from a "buy" rating to a "hold" rating in a report on Monday, August 11th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $133.00.

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.

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