WCM Investment Management LLC Makes New $15.10 Million Investment in Novanta Inc. (NASDAQ:NOVT)

WCM Investment Management LLC purchased a new stake in Novanta Inc. (NASDAQ:NOVT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 99,177 shares of the technology company’s stock, valued at approximately $15,104,000. WCM Investment Management LLC owned approximately 0.28% of Novanta as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the business. Franklin Resources Inc. lifted its holdings in Novanta by 61.6% during the third quarter. Franklin Resources Inc. now owns 214,893 shares of the technology company’s stock worth $37,916,000 after buying an additional 81,942 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Novanta by 10.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 734,728 shares of the technology company’s stock worth $131,457,000 after acquiring an additional 69,858 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Novanta by 110.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 100,259 shares of the technology company’s stock worth $17,938,000 after purchasing an additional 52,573 shares during the last quarter. Barclays PLC boosted its position in Novanta by 215.1% during the third quarter. Barclays PLC now owns 65,564 shares of the technology company’s stock valued at $11,731,000 after purchasing an additional 44,756 shares in the last quarter. Finally, DF Dent & Co. Inc. grew its stake in Novanta by 26.7% in the third quarter. DF Dent & Co. Inc. now owns 205,713 shares of the technology company’s stock valued at $36,806,000 after purchasing an additional 43,400 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Novanta Price Performance

Shares of NOVT opened at $146.41 on Monday. The company has a 50 day moving average of $154.64 and a two-hundred day moving average of $167.36. The company has a quick ratio of 1.81, a current ratio of 2.79 and a debt-to-equity ratio of 0.61. Novanta Inc. has a twelve month low of $143.18 and a twelve month high of $187.12. The company has a market cap of $5.26 billion, a price-to-earnings ratio of 87.67 and a beta of 1.28.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird decreased their price target on shares of Novanta from $175.00 to $169.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th.

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.