Novanta (NOVT)

Novanta reports through two main operating areas: Automation Enabling Technologies and Medical Solutions. Automation Enabling Technologies is the larger contributor and includes laser beam steering and scanning products, laser sources, optical subsystems, robotic components and precision motion control technologies. These products are used in areas such as industrial micromachining, semiconductor-related manufacturing, electronics production, additive manufacturing and laboratory automation.

The Medical Solutions segment supplies medical-grade components and integrated systems for healthcare equipment makers. Its portfolio includes insufflators, endoscopic pumps, surgical visualization and operating room integration technologies, as well as other products used in minimally invasive and advanced surgical procedures. By selling deeply embedded technologies to OEM customers, Novanta can benefit from long product lifecycles once its components are qualified into regulated or high-performance systems.

The company has operations and customers across the United States, Europe and other international markets, with an important presence in the US and Germany. For investors, Novanta represents exposure to several long-term themes, including precision medicine, factory automation, surgical innovation and robotics, while remaining dependent on OEM capital spending, healthcare equipment demand and execution in specialized technology niches.