Mawer Investment Management Ltd. Buys 66,012 Shares of Novanta Inc. $NOVT

Key Points

• Mawer Investment Management increased its Novanta stake by 16.9% in the fourth quarter, buying 66,012 more shares and bringing its total holding to 457,160 shares worth about $54.4 million.
• Novanta insiders sold stock during the quarter, including CFO Robert Buckley and CEO Matthijs Glastra, with total insider sales of 23,957 shares valued at about $3.1 million.
• Novanta’s recent performance and outlook were solid: it beat quarterly EPS and revenue estimates, raised guidance, and analysts currently rate the stock a Hold with an average price target of $173.

Mawer Investment Management Ltd. grew its stake in Novanta Inc. (NASDAQ:NOVT - Free Report) by 16.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 457,160 shares of the technology company's stock after purchasing an additional 66,012 shares during the period. Mawer Investment Management Ltd. owned approximately 1.28% of Novanta worth $54,397,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Danske Bank A S bought a new stake in shares of Novanta during the 3rd quarter worth approximately $40,000. Allworth Financial LP lifted its stake in shares of Novanta by 978.4% during the 4th quarter. Allworth Financial LP now owns 399 shares of the technology company's stock worth $47,000 after acquiring an additional 362 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Novanta by 120.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the technology company's stock worth $51,000 after acquiring an additional 233 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in shares of Novanta during the 4th quarter worth approximately $53,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Novanta by 1,291.4% during the 4th quarter. Farther Finance Advisors LLC now owns 487 shares of the technology company's stock worth $58,000 after acquiring an additional 452 shares during the last quarter. 98.35% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Robert Buckley sold 9,957 shares of Novanta stock in a transaction on Monday, March 16th. The stock was sold at an average price of $116.77, for a total value 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 trade represents a 9.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Matthijs Glastra sold 7,500 shares of Novanta stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $150.43, for a total value of $1,128,225.00. Following the completion of the transaction, the chief executive officer owned 42,761 shares in the company, valued at $6,432,537.23. This 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 sold a total of 23,957 shares of company stock worth $3,136,229 over the last quarter. Company insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wall Street Zen lowered Novanta from a "buy" rating to a "hold" rating in a research note on Saturday, April 18th. Robert W. Baird raised their price target on Novanta from $144.00 to $173.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Novanta in a research note on Friday, April 17th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $173.00.

Novanta Trading Up 2.6%

NOVT opened at $163.46 on Tuesday. The stock's fifty day moving average is $134.91 and its two-hundred day moving average is $129.20. The company has a market capitalization of $5.82 billion, a P/E ratio of 118.45 and a beta of 1.62. Novanta Inc. has a 52 week low of $98.27 and a 52 week high of $165.56. 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 (NASDAQ:NOVT - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The technology company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.78 by $0.03. The company had revenue of $257.71 million for the quarter, compared to the consensus estimate of $253.40 million. Novanta had a return on equity of 12.06% and a net margin of 5.35%.Novanta's quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the business posted $0.74 EPS. Novanta has set its FY 2026 guidance at 3.500-3.650 EPS and its Q2 2026 guidance at 0.810-0.860 EPS. Analysts forecast that Novanta Inc. will post 3.59 earnings per share for the current year.

Novanta 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.

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