GW&K Investment Management LLC Boosts Position in Novanta Inc. $NOVT

Key Points

• GW&K Investment Management increased its Novanta stake by 187.3% in the fourth quarter, bringing its holdings to 736,954 shares worth about $87.7 million. Several other institutional investors also added to positions, and hedge funds now own 98.35% of the stock.
• Company insiders have been selling shares, including CFO Robert Buckley and CEO Matthijs Glastra, with insiders selling 23,957 shares worth $3.14 million over the last quarter. Insider ownership now stands at 1.20%.
• Novanta reported better-than-expected quarterly results, with EPS of $0.81 versus $0.78 expected and revenue of $257.71 million, up 10.4% year over year. Despite that, the stock was down 2.2% to $160.65, and analysts currently rate it a consensus Hold with a $180 price target.

GW&K Investment Management LLC boosted its position in shares of Novanta Inc. (NASDAQ:NOVT - Free Report) by 187.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 736,954 shares of the technology company's stock after purchasing an additional 480,413 shares during the quarter. Novanta makes up 0.8% of GW&K Investment Management LLC's portfolio, making the stock its 21st biggest holding. GW&K Investment Management LLC owned 2.06% of Novanta worth $87,691,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NOVT. Allspring Global Investments Holdings LLC boosted its position in Novanta by 75.9% during the fourth 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 in the last quarter. Norges Bank purchased a new stake in Novanta during the fourth quarter worth $50,719,000. Bamco Inc. NY boosted its position in Novanta by 101.6% during the third quarter. Bamco Inc. NY now owns 627,093 shares of the technology company's stock worth $62,803,000 after purchasing an additional 315,978 shares in the last quarter. American Capital Management Inc. purchased a new stake in Novanta during the third quarter worth $21,919,000. Finally, UBS Group AG boosted its position in Novanta by 949.1% during the third quarter. UBS Group AG now owns 213,868 shares of the technology company's stock worth $21,419,000 after purchasing an additional 193,482 shares in the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Robert Buckley sold 9,957 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $116.77, for a total transaction of $1,162,678.89. Following the transaction, the chief financial officer directly owned 96,616 shares in the company, valued at approximately $11,281,850.32. This represents a 9.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Matthijs Glastra sold 7,500 shares of the stock in a transaction dated Tuesday, May 12th. The stock was 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 in the company, valued at $6,432,537.23. This trade represents a 14.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 23,957 shares of company stock worth $3,136,229 over the last quarter. 1.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on NOVT shares. Wall Street Zen downgraded Novanta from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. Weiss Ratings restated a "hold (c-)" rating on shares of Novanta in a research report on Friday, April 17th. Finally, Robert W. Baird set a $180.00 price objective on Novanta in a research report on Tuesday. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $180.00.

Novanta Stock Down 2.2%

Shares of NASDAQ:NOVT opened at $160.65 on Wednesday. The company has a quick ratio of 2.69, a current ratio of 3.56 and a debt-to-equity ratio of 0.15. Novanta Inc. has a 52-week low of $98.27 and a 52-week high of $171.85. The stock's fifty day simple moving average is $140.55 and its 200-day simple moving average is $131.70. The company has a market capitalization of $5.72 billion, a P/E ratio of 116.41 and a beta of 1.68.

Novanta (NASDAQ:NOVT - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.03. Novanta had a return on equity of 12.06% and a net margin of 5.35%.The business had revenue of $257.71 million for the quarter, compared to the consensus estimate of $253.40 million. During the same period in the prior year, the business earned $0.74 earnings per share. The business's revenue was up 10.4% on a year-over-year basis. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q2 2026 guidance at 0.810-0.860 EPS. As a group, equities research analysts forecast that Novanta Inc. will post 3.59 earnings per share for the current fiscal year.

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.

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