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Novanta Inc (NOVT)



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Upturn Advisory Summary
08/14/2025: NOVT (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $141.5
1 Year Target Price $141.5
1 | Strong Buy |
2 | Buy |
1 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -26.13% | Avg. Invested days 52 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 4.25B USD | Price to earnings Ratio 69.92 | 1Y Target Price 141.5 |
Price to earnings Ratio 69.92 | 1Y Target Price 141.5 | ||
Volume (30-day avg) 4 | Beta 1.48 | 52 Weeks Range 98.76 - 186.75 | Updated Date 08/15/2025 |
52 Weeks Range 98.76 - 186.75 | Updated Date 08/15/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 1.69 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-08-05 | When - | Estimate 0.73 | Actual 0.76 |
Profitability
Profit Margin 6.41% | Operating Margin (TTM) 11.4% |
Management Effectiveness
Return on Assets (TTM) 5.49% | Return on Equity (TTM) 8.16% |
Valuation
Trailing PE 69.92 | Forward PE - | Enterprise Value 4654498975 | Price to Sales(TTM) 4.44 |
Enterprise Value 4654498975 | Price to Sales(TTM) 4.44 | ||
Enterprise Value to Revenue 4.86 | Enterprise Value to EBITDA 25.4 | Shares Outstanding 35973600 | Shares Floating 35635479 |
Shares Outstanding 35973600 | Shares Floating 35635479 | ||
Percent Insiders 0.86 | Percent Institutions 104.34 |
Upturn AI SWOT
Novanta Inc
Company Overview
History and Background
Novanta Inc. was founded in 1996 and evolved from General Scanning. It focuses on designing and manufacturing high-tech components and subsystems for medical and industrial applications. Key milestones include acquisitions and product innovations enhancing its market position.
Core Business Areas
- Precision Medicine and Manufacturing: Provides photonics, vision, and precision motion solutions for medical device manufacturing and advanced industrial applications. Key products include laser beam delivery components, optical coherence tomography (OCT) systems, and precision motion controllers.
- Vision: Develops and delivers advanced machine vision systems that enable manufacturers to automate and improve productivity across a range of industrial applications. They make cameras and systems for quality assurance, defect detection and metrology.
- Robotics and Automation: Offers precision motion control solutions, including motors, drives, and encoders, that are used in robotics, automation, and other high-performance applications.
Leadership and Structure
The leadership team includes Matthijs Glastra (CEO) and Robert Buckley (CFO). The organizational structure is based on business segments (Precision Medicine and Manufacturing, Vision, and Robotics and Automation) with centralized functions for finance, HR, and operations.
Top Products and Market Share
Key Offerings
- Laser Beam Steering Components: Provides components used in laser-based medical and industrial applications for precise beam manipulation and control. Competitors include Coherent, IPG Photonics, and Jenoptik. No specific market share data available, but Novanta is a key player in this segment. Revenue from the product contributes significantly to the Precision Medicine and Manufacturing segment.
- Optical Coherence Tomography (OCT) Systems: Develops and markets OCT systems used for medical imaging, particularly in ophthalmology and cardiology. Competitors include Carl Zeiss Meditec, Topcon, and Heidelberg Engineering. No specific market share available, revenue is included in the Precision Medicine and Manufacturing segment.
- Vision Systems: Supplies embedded vision systems for industrial applications. Competitors are Cognex, Keyence, and Teledyne. Market share data not readily available. Revenue is included in Vision segment and varies by application.
Market Dynamics
Industry Overview
The market is driven by increasing demand for automation, precision medicine, and advanced manufacturing. Technological advancements and increasing healthcare spending are key growth drivers.
Positioning
Novanta Inc. is positioned as a leading supplier of high-tech components and subsystems for medical and industrial applications, with a focus on innovation and customized solutions. Competitive advantages include deep technical expertise and a broad product portfolio.
Total Addressable Market (TAM)
Estimated TAM for laser and motion control solutions within medical and industrial applications is in the billions of dollars globally. Novanta is positioned to capture a significant portion of this TAM through product development and strategic acquisitions.
Upturn SWOT Analysis
Strengths
- Strong market position in niche markets
- Diversified product portfolio
- Focus on innovation and technology
- Experienced management team
- Strategic acquisitions
Weaknesses
- Reliance on specific end markets
- Exposure to economic cycles
- Integration risks associated with acquisitions
- High valuation multiples compared to peers
Opportunities
- Expanding into new geographic markets
- Developing new products and applications
- Acquiring complementary businesses
- Leveraging partnerships and collaborations
Threats
- Increased competition
- Technological obsolescence
- Economic downturn
- Supply chain disruptions
- Regulatory changes
Competitors and Market Share
Key Competitors
- COHR
- IPGP
- TKTDY
Competitive Landscape
Novanta competes on technology, innovation, and customer service. Its strengths include a diversified product portfolio and a strong market position in niche markets. Competitors have larger scale and broader product offerings in some segments.
Major Acquisitions
Laser Optek
- Year: 2020
- Acquisition Price (USD millions): 150
- Strategic Rationale: Expanded Novanta's capabilities in laser beam steering and delivery components.
ThingMagic
- Year: 2010
- Acquisition Price (USD millions): 30
- Strategic Rationale: Added radio frequency identification (RFID) readers and modules to the product portfolio, diversifying into data collection and industrial automation.
Growth Trajectory and Initiatives
Historical Growth: Novanta has grown through organic innovation and strategic acquisitions, increasing revenue and profitability over the past decade.
Future Projections: Analyst estimates project continued revenue growth driven by demand in medical and industrial markets. Growth rates are expected to be in the mid-to-high single digits.
Recent Initiatives: Recent initiatives include launching new products, expanding into new markets, and integrating acquired businesses.
Summary
Novanta is a solid company with strong positions in specialized medical and industrial sectors. Strategic acquisitions and innovation have fueled growth, while reliance on specific markets poses a risk. Opportunities include expansion into emerging markets and developing new technologies. The overall outlook for Novanta is stable to positive given current market trends.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company reports
- Industry analysis reports
- Financial news outlets
Disclaimers:
This analysis is for informational purposes only and does not constitute financial advice. Market data and analyst estimates are subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Novanta Inc
Exchange NASDAQ | Headquaters Bedford, MA, United States | ||
IPO Launch date 2016-01-04 | CEO & Chairman of the Board Mr. Matthijs Glastra | ||
Sector Technology | Industry Scientific & Technical Instruments | Full time employees 3000 | Website https://www.novanta.com |
Full time employees 3000 | Website https://www.novanta.com |
Novanta Inc., together with its subsidiaries, provides precision medicine, precision manufacturing, medical solutions, robotics and automation solutions, and advanced surgery solutions in the United States and internationally. It operates in two segments, Automation Enabling Technologies and Medical Solutions. The Precision Medicine and Manufacturing segment designs, manufactures, and markets laser beam delivery components, laser beam delivery solutions, CO2 lasers, solid state lasers, ultrafast lasers, optical and inductive encoders, precision motors, integrated stepper motors, servo drives, motion control solutions, intelligent robotic end-of-arm technology solutions, and air bearing spindles. This segment serves advanced industrial processes, advanced industrial and medical robotics, other medical and life science automation applications, and medical laser procedures, such as ophthalmology applications. The Medical Solutions segment provides a range of medical grade technologies, including medical insufflators, pumps, and related disposables; laser beam delivery solutions; video processing, streaming, and capture; machine vision technologies; radio frequency identification (RFID) technologies; barcode identification technologies; thermal chart recorders; light and color measurement technologies; touch panel displays; and advanced motion control solutions. The company sells its products through its direct sales force and distributors under the Cambridge Technology, Synrad, Laser Quantum, ARGES, WOM, NDS, Med X Change, Reach Technology, JADAK, ThingMagic, Photo Research, General Scanning, ATI Industrial Automation, Celera Motion, IMS, MicroE, Applimotion, Zettlex, Ingenia, and Westwind brands. The company was formerly known as GSI Group, Inc. and changed its name to Novanta Inc. in May 2016. Novanta Inc. was incorporated in 1968 and is headquartered in Bedford, Massachusetts.

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