WCM Investment Management LLC Has $9.53 Million Stock Position in Novanta Inc. (NASDAQ:NOVT)

WCM Investment Management LLC lessened its holdings in Novanta Inc. (NASDAQ:NOVT - Free Report) by 25.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 73,857 shares of the technology company's stock after selling 25,320 shares during the quarter. WCM Investment Management LLC owned approximately 0.21% of Novanta worth $9,533,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NOVT. SBI Securities Co. Ltd. bought a new position in shares of Novanta in the 4th quarter valued at about $97,000. Proficio Capital Partners LLC bought a new position in shares of Novanta in the 4th quarter valued at about $5,298,000. Arizona State Retirement System boosted its stake in shares of 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 purchasing an additional 76 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Novanta in the 4th quarter valued at about $7,901,000. Finally, Geneva Capital Management LLC boosted its stake in shares of Novanta by 9.3% in the 4th quarter. Geneva Capital Management LLC now owns 852,638 shares of the technology company's stock valued at $130,257,000 after purchasing an additional 72,592 shares during the last quarter. Institutional investors own 98.35% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Novanta from a "hold" rating to a "buy" rating in a research note on Friday, June 6th.

Novanta Trading Up 0.4%

Shares of NASDAQ:NOVT traded up $0.60 during mid-day trading on Friday, reaching $133.45. The stock had a trading volume of 225,533 shares, compared to its average volume of 222,586. The firm has a market cap of $4.80 billion, a PE ratio of 68.08 and a beta of 1.45. The firm has a 50 day simple moving average of $125.15 and a two-hundred day simple moving average of $133.78. The company has a current ratio of 2.56, a quick ratio of 1.70 and a debt-to-equity ratio of 0.50. Novanta Inc. has a twelve month low of $98.76 and a twelve month high of $187.12.

Novanta (NASDAQ:NOVT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.06. The business had revenue of $233.37 million for the quarter, compared to the consensus estimate of $233.34 million. Novanta had a net margin of 7.42% and a return on equity of 15.06%. Novanta's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. On average, research analysts predict that Novanta Inc. will post 3.03 EPS for the current fiscal year.

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.