Market Summary
USD142.04-4.52
Market Closed-3.08%
NOVT Alerts
NOVT Stock Price
NOVT RSI Chart
NOVT Valuation
NOVT Price/Sales (Trailing)
NOVT Profitability
NOVT Fundamentals
NOVT Revenue
NOVT Earnings
Price Action
52 Week Range
187.61
(Low)(High)
Last 7 days
-6.3%
Last 30 days
-2.9%
Last 90 days
-16.4%
Trailing 12 Months
16.7%
NOVT Financial Health
NOVT Investor Care
Historical Charts for Stock Metrics
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Net sales
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Latest Insider Trading transactions for NOVT
Filter Transactions| Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
|---|---|---|---|---|---|---|
2023-09-07 | Buckley Robert | sold | -480,602 | 160 | -3,000 | chief financial officer |
2023-08-15 | Welsh Michele Davis | sold (taxes) | -90,682 | 153 | -589 | general counsel |
2023-08-15 | Welsh Michele Davis | acquired | - | - | 1,328 | general counsel |
2023-07-26 | Hulit Barbara B. | acquired | - | - | 187 | - |
2023-06-28 | Solomon Darlene J. S. | acquired | - | - | 257 | - |
2023-06-12 | Glastra Matthijs | gifted | - | - | -5,900 | chief executive officer |
2023-02-24 | Young Brian S | acquired | - | - | 1,358 | chief human resources officer |
2023-02-24 | Glastra Matthijs | acquired | - | - | 11,575 | chief executive officer |
2023-02-24 | Glastra Matthijs | sold (taxes) | -1,517,830 | 156 | -9,685 | chief executive officer |
2023-02-24 | CHANG PETER L | sold (taxes) | -73,345 | 156 | -468 | cao-corporate controller |
Which funds bought or sold NOVT recently?
View All Details| Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
|---|---|---|---|---|---|---|
2023-08-25 | Yarbrough Capital, LLC | unchanged | - | 75,780 | 557,823 | 0.03% |
2023-08-21 | CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | reduced | -7.69 | 510,690 | 7,993,810 | 0.01% |
2023-08-21 | OSAIC HOLDINGS, INC. | added | 7.83 | 383,755 | 1,922,470 | -% |
2023-08-21 | TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY | added | 3.5 | 528,000 | 3,194,000 | 0.03% |
2023-08-18 | Legato Capital Management LLC | added | 35.74 | 554,885 | 1,526,920 | 0.21% |
2023-08-17 | Orion Portfolio Solutions, LLC | added | 14.71 | 83,564 | 338,744 | -% |
2023-08-16 | Nuveen Asset Management, LLC | added | 13.25 | 7,475,160 | 31,552,200 | 0.01% |
2023-08-15 | State of Tennessee, Treasury Department | added | 31.98 | 787,437 | 2,280,820 | 0.01% |
2023-08-15 | PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | reduced | -8.26 | 1,000 | 20,000 | -% |
2023-08-15 | ALLIANCEBERNSTEIN L.P. | reduced | -4.58 | 21,684,800 | 229,693,000 | 0.09% |
Latest Funds Activity
Calls
Puts
Net Call Options
No. of Funds
NOVT Alerts
Schedule 13G FIlings of Novanta
| Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
|---|---|---|---|---|---|
| Jun 09, 2023 | vanguard group inc | 10.02% | 3,588,969 | SC 13G/A | |
| Feb 14, 2023 | price t rowe associates inc /md/ | 2.8% | 985,144 | SC 13G/A | |
| Feb 10, 2023 | neuberger berman group llc | 3.61% | 1,288,802 | SC 13G/A | |
| Feb 09, 2023 | vanguard group inc | 9.69% | 3,459,014 | SC 13G/A | |
| Jan 23, 2023 | blackrock inc. | 11.8% | 4,226,644 | SC 13G/A | |
| Feb 14, 2022 | neuberger berman group llc | 5.60% | 1,994,986 | SC 13G/A | |
| Feb 14, 2022 | price t rowe associates inc /md/ | 6.0% | 2,139,728 | SC 13G/A | |
| Feb 03, 2022 | blackrock inc. | 6.9% | 2,454,907 | SC 13G/A | |
| Feb 16, 2021 | price t rowe associates inc /md/ | 7.1% | 2,513,217 | SC 13G/A | |
| Feb 11, 2021 | neuberger berman group llc | 5.51% | 1,938,757 | SC 13G/A |
Recent SEC filings of Novanta
View All Filings| Date Filed | Form Type | Document | |
|---|---|---|---|
| Sep 11, 2023 | 4 | Insider Trading | |
| Sep 07, 2023 | 144 | Notice of Insider Sale Intent | |
| Aug 17, 2023 | 4 | Insider Trading | |
| Aug 08, 2023 | 8-K | Current Report | |
| Aug 08, 2023 | 10-Q | Quarterly Report | |
| Jul 28, 2023 | 4 | Insider Trading | |
| Jul 06, 2023 | 4 | Insider Trading | |
| Jul 06, 2023 | 4 | Insider Trading | |
| Jul 06, 2023 | 4 | Insider Trading | |
| Jul 06, 2023 | 4 | Insider Trading |
Peers (Alternatives to Novanta)
View All Peers In Detail| Name | Mkt Capsorted ascending | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|
| LARGE-CAP | ||||||||
APH | 49.6B | 12.6B | -0.77% | 18.19% | 26.05 | 3.95 | 5.26% | 6.38% |
KEYS | 23.3B | 5.6B | 2.28% | -19.41% | 20.64 | 4.17 | 6.17% | 2.08% |
JBL | 13.8B | 35.3B | 4.34% | 81.92% | 14.15 | 0.39 | 10.73% | 14.25% |
ZBRA | - | 5.5B | -11.85% | -17.44% | - | - | -5.22% | 30.78% |
| MID-CAP | ||||||||
DLB | 7.8B | 1.3B | -4.46% | 13.68% | 35.71 | 6.08 | 2.12% | 9.33% |
CGNX | 7.4B | 892.7M | -7.02% | -2.57% | 43.19 | 8.34 | -17.80% | -33.36% |
FN | 5.6B | 2.6B | 31.67% | 58.01% | 22.44 | 2.1 | 16.93% | 23.72% |
NOVT | 5.2B | 889.9M | -2.93% | 16.70% | 68.25 | 5.9 | 11.76% | 20.80% |
IPGP | 4.7B | 1.4B | 0.10% | 12.57% | 44.4 | 3.43 | -8.11% | -60.37% |
| SMALL-CAP | ||||||||
OSIS | 1.9B | 1.3B | -1.49% | 46.65% | 21.17 | 1.52 | 8.04% | -20.43% |
CTS | 1.3B | 585.4M | -4.27% | -2.57% | 22.64 | 2.24 | 6.90% | 364.82% |
BHE | 860.0M | 3.0B | -5.96% | -7.84% | 12.95 | 0.29 | 14.83% | 36.44% |
NSSC | 839.8M | 168.6M | 8.55% | -24.39% | 25.28 | 4.98 | 24.14% | 88.79% |
LASR | 482.2M | 224.2M | -3.98% | -0.96% | -9.24 | 2.15 | -15.40% | -50.79% |
MVIS | 405.3M | 1.1M | -17.56% | -48.20% | -6.14 | 364.77 | -42.70% | -35.25% |
Novanta News
Returns for NOVT
Cumulative Returns on NOVT
35.8%
7-Year Cumulative Returns
15.7%
5-Year Cumulative Returns
11.4%
3-Year Cumulative Returns
Risks for NOVT
What is the probability of a big loss on NOVT?
80%
Probability that Novanta stock will be more than 20% underwater in next one year
33.5%
Probability that Novanta stock will be more than 30% underwater in next one year.
0%
Probability that Novanta stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.
How does NOVT drawdown profile look like?
Y-axis is the maximum loss one would have experienced if Novanta was unfortunately bought at previous high price.
Drawdowns
Financials for Novanta
Income Statement (Last 12 Months)(In Millions)
| Income Statement (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Revenue | 1.6% | 890 | 876 | 861 | 841 | 796 | 748 | 707 | 655 | 621 | 598 | 591 | 603 | 614 | 624 | 626 | 623 | 629 | 625 | 614 | 605 | 591 |
| Gross Profit | 2.3% | 395 | 386 | 378 | 367 | 345 | 322 | 300 | 280 | 263 | 249 | 245 | 248 | 253 | 260 | 262 | 261 | 266 | 266 | 262 | 259 | 248 |
| Operating Expenses | 0.0% | 281 | 281 | 275 | 269 | 260 | 245 | 236 | 220 | 206 | 195 | 189 | 196 | 200 | 206 | 207 | 203 | 200 | 197 | 191 | 185 | 183 |
| S&GA Expenses | 1.0% | 162 | 160 | 159 | 155 | 146 | 137 | 129 | 122 | 117 | 111 | 110 | 112 | 113 | 117 | 118 | 117 | 119 | 119 | 116 | 115 | 113 |
| R&D Expenses | 2.0% | 89.00 | 88.00 | 86.00 | 83.00 | 79.00 | 75.00 | 73.00 | 69.00 | 67.00 | 64.00 | 61.00 | 60.00 | 58.00 | 57.00 | 56.00 | 54.00 | 54.00 | 53.00 | 51.00 | 50.00 | 48.00 |
| EBITDA | -100.0% | - | 155 | 155 | 152 | 135 | 123 | 106 | 98.00 | 93.00 | 90.00 | 92.00 | 89.00 | 90.00 | 92.00 | 92.00 | - | - | - | - | - | - |
| EBITDA Margin | -100.0% | - | 0.18* | 0.18* | 0.18* | 0.17* | 0.16* | 0.15* | 0.15* | 0.15* | 0.15* | 0.16* | 0.15* | 0.15* | 0.15* | 0.15* | - | - | - | - | - | - |
| Interest Expenses | 23.0% | 22.00 | 18.00 | 14.00 | 11.00 | 9.00 | 8.00 | 6.00 | 5.00 | 5.00 | 5.00 | 6.00 | 7.00 | 7.00 | 8.00 | 8.00 | 8.00 | 8.00 | 9.00 | 9.00 | 9.00 | 5.00 |
| Earnings Before Taxes | 5.2% | 91.00 | 86.00 | 87.00 | 87.00 | 74.00 | 68.00 | 56.00 | 52.00 | 49.00 | 46.00 | 48.00 | 43.00 | 44.00 | 45.00 | 46.00 | 50.00 | 57.00 | 59.00 | 61.00 | 64.00 | 55.00 |
| EBT Margin | -100.0% | - | 0.10* | 0.10* | 0.10* | 0.09* | 0.09* | 0.08* | 0.08* | 0.08* | 0.08* | 0.08* | 0.07* | 0.07* | 0.07* | 0.07* | - | - | - | - | - | - |
| Net Income | 4.6% | 77.00 | 73.00 | 74.00 | 73.00 | 64.00 | 58.00 | 50.00 | 49.00 | 44.00 | 44.00 | 45.00 | 41.00 | 42.00 | 40.00 | 41.00 | 43.00 | 49.00 | 49.00 | 49.00 | 46.00 | 39.00 |
| Net Income Margin | -100.0% | - | 0.08* | 0.09* | 0.09* | 0.08* | 0.08* | 0.07* | 0.08* | 0.07* | 0.07* | 0.08* | 0.07* | 0.07* | 0.06* | 0.07* | - | - | - | - | - | - |
| Free Cashflow | -100.0% | - | 73.00 | 71.00 | 58.00 | 55.00 | 60.00 | 75.00 | 94.00 | 126 | 134 | 130 | 119 | 84.00 | 65.00 | 53.00 | - | - | - | - | - | - |
Balance Sheet(In Millions)
| Balance Sheet | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Assets | 0.6% | 1,233 | 1,226 | 1,241 | 1,208 | 1,206 | 1,206 | 1,228 | 1,210 | 878 | 852 | 865 | 858 | 861 | 842 | 870 | 858 | 783 | 753 | 720 | 759 | 742 |
| Current Assets | 2.4% | 414 | 405 | 421 | 408 | 399 | 375 | 374 | 353 | 336 | 309 | 304 | 303 | 310 | 297 | 305 | 297 | 285 | 287 | 282 | 313 | 296 |
| Cash Equivalents | 10.5% | 91.00 | 83.00 | 100 | 85.00 | 100 | 99.00 | 117 | 102 | 134 | 114 | 125 | 107 | 97.00 | 74.00 | 79.00 | 61.00 | 66.00 | 74.00 | 82.00 | 112 | 107 |
| Inventory | -2.3% | 163 | 167 | 168 | 163 | 154 | 139 | 126 | 119 | 95.00 | 90.00 | 93.00 | 102 | 107 | 112 | 117 | 119 | 113 | 107 | 105 | 99.00 | 96.00 |
| Net PPE | -0.2% | 104 | 104 | 103 | 95.00 | 88.00 | 90.00 | 87.00 | 86.00 | 80.00 | 78.00 | 79.00 | 76.00 | 75.00 | 75.00 | 78.00 | 76.00 | 65.00 | 65.00 | 65.00 | 66.00 | 65.00 |
| Goodwill | 0.2% | 483 | 483 | 479 | 465 | 466 | 476 | 480 | 493 | 283 | 282 | 286 | 280 | 274 | 269 | 275 | 269 | 230 | 218 | 218 | - | - |
| Liabilities | -3.4% | 607 | 628 | 664 | 665 | 674 | 671 | 707 | 710 | 385 | 376 | 388 | 406 | 429 | 429 | 453 | 455 | 397 | 373 | 351 | 400 | 366 |
| Current Liabilities | -4.5% | 136 | 142 | 165 | 158 | 198 | 183 | 184 | 188 | 127 | 117 | 114 | 134 | 129 | 135 | 135 | 125 | 99.00 | 101 | 104 | 109 | 93.00 |
| LT Debt, Current | 0.0% | 5.00 | 5.00 | 5.00 | 4.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 6.00 | 5.00 | 5.00 | 5.00 | 5.00 | - | - | 2.00 | 5.00 | 9.00 | 9.00 |
| LT Debt, Non Current | -3.6% | 404 | 419 | 431 | 438 | 403 | 413 | 429 | 442 | 187 | 186 | 195 | 188 | 212 | 207 | 215 | 228 | 215 | 198 | 203 | 247 | 228 |
| Shareholder's Equity | 4.7% | 626 | 598 | 578 | 542 | 532 | 535 | 521 | 500 | 493 | 476 | 477 | 451 | 432 | 413 | 417 | 403 | 386 | 380 | 368 | 360 | 324 |
| Retained Earnings | 14.0% | 170 | 149 | 131 | 115 | 93.00 | 75.00 | 57.00 | 43.00 | 29.00 | 18.00 | 6.00 | -6.45 | -14.71 | -26.37 | -38.32 | -47.54 | -56.46 | -66.84 | -79.09 | -90.74 | -112 |
| Additional Paid-In Capital | 10.5% | 57.00 | 52.00 | 55.00 | 52.00 | 46.00 | 53.00 | 54.00 | 48.00 | 52.00 | 47.00 | 59.00 | 52.00 | 45.00 | 40.00 | 50.00 | 51.00 | 41.00 | 43.00 | 46.00 | 46.00 | 32.00 |
| Shares Outstanding | 0.0% | 36.00 | 36.00 | 36.00 | 36.00 | 36.00 | 36.00 | 36.00 | 35.00 | 35.00 | 35.00 | 35.00 | 35.00 | 35.00 | 35.00 | 35.00 | 35.00 | 35.00 | 35.00 | 35.00 | 35.00 | 35.00 |
Cashflow (Last 12 Months)(In Millions)
| Cashflow (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Cashflow From Operations | 2.4% | 92.00 | 90.00 | 91.00 | 79.00 | 78.00 | 83.00 | 95.00 | 112 | 141 | 146 | 140 | 129 | 94.00 | 76.00 | 63.00 | 50.00 | 70.00 | 75.00 | 90.00 | 90.00 | 74.00 |
| Share Based Compensation | 3.5% | 24.00 | 23.00 | 23.00 | 23.00 | 26.00 | 26.00 | 26.00 | 27.00 | 26.00 | 27.00 | 23.00 | 18.00 | 13.00 | 10.00 | 9.00 | 10.00 | 9.00 | 8.00 | 8.00 | 7.00 | 6.00 |
| Cashflow From Investing | 6.3% | -36.87 | -39.34 | -42.54 | -42.85 | -308 | -308 | -306 | -305 | -16.73 | -13.52 | -13.16 | -12.59 | -36.67 | -66.54 | -63.84 | -64.39 | -45.40 | -45.11 | -45.59 | -44.85 | -174 |
| Cashflow From Financing | -3.7% | -65.50 | -63.19 | -60.15 | -46.21 | 201 | 212 | 205 | 187 | -91.37 | -97.25 | -84.36 | -73.51 | -26.11 | -9.35 | -3.93 | -35.51 | -65.67 | -62.47 | -60.16 | -24.04 | 118 |
| Buy Backs | - | - | - | 10.00 | 20.00 | 40.00 | - | - | - | - | - | 6.00 | 9.00 | 12.00 | 16.00 | 10.00 | 12.00 | 10.00 | - | 6.00 | 5.00 | 3.00 |
NOVT Income Statement
2023-06-30CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2023 | Jul. 01, 2022 | Jun. 30, 2023 | Jul. 01, 2022 | |
| Income Statement [Abstract] | ||||
| Revenue | $ 229,464 | $ 215,356 | $ 448,590 | $ 419,572 |
| Cost of revenue | 125,341 | 120,111 | 246,839 | 234,051 |
| Gross profit | 104,123 | 95,245 | 201,751 | 185,521 |
| Operating expenses: | ||||
| Research and development and engineering | 23,380 | 21,588 | 46,208 | 42,517 |
| Selling, general and administrative | 42,187 | 40,538 | 83,110 | 79,890 |
| Amortization of purchased intangible assets | 5,124 | 7,173 | 10,213 | 14,515 |
| Restructuring, acquisition, and related costs | 1,234 | 2,655 | 3,710 | 1,025 |
| Total operating expenses | 71,925 | 71,954 | 143,241 | 137,947 |
| Operating income | 32,198 | 23,291 | 58,510 | 47,574 |
| Interest income (expense), net | (6,810) | (2,757) | (13,142) | (5,866) |
| Foreign exchange transaction gains (losses), net | 74 | 152 | (3) | 221 |
| Other income (expense), net | (191) | 68 | (357) | (477) |
| Income before income taxes | 25,271 | 20,754 | 45,008 | 41,452 |
| Income tax provision (benefit) | 4,392 | 3,275 | 5,864 | 5,153 |
| Consolidated net income | $ 20,879 | $ 17,479 | $ 39,144 | $ 36,299 |
| Earnings per common share: | ||||
| Basic | $ 0.58 | $ 0.49 | $ 1.09 | $ 1.02 |
| Diluted | $ 0.58 | $ 0.49 | $ 1.09 | $ 1.01 |
| Weighted average common shares outstanding—basic | 35,851 | 35,609 | 35,830 | 35,573 |
| Weighted average common shares outstanding—diluted | 36,032 | 35,933 | 36,015 | 35,857 |
NOVT Balance Sheet
2023-06-30CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
|---|---|---|
| Current assets | ||
| Cash and cash equivalents | $ 91,330 | $ 100,105 |
| Accounts receivable, net of allowance of $1,316 and $995, respectively | 144,837 | 137,697 |
| Inventories | 162,904 | 167,997 |
| Prepaid income taxes and income taxes receivable | 3,144 | 1,508 |
| Prepaid expenses and other current assets | 12,128 | 13,212 |
| Total current assets | 414,343 | 420,519 |
| Property, plant and equipment, net | 103,801 | 103,186 |
| Operating lease assets | 43,280 | 43,317 |
| Deferred tax assets | 21,215 | 15,113 |
| Other assets | 5,718 | 4,414 |
| Intangible assets, net | 160,956 | 175,766 |
| Goodwill | 483,409 | 478,897 |
| Total assets | 1,232,722 | 1,241,212 |
| Current liabilities | ||
| Current portion of long-term debt | 4,906 | 4,800 |
| Accounts payable | 64,653 | 75,225 |
| Income taxes payable | 6,592 | 13,660 |
| Current portion of operating lease liabilities | 7,881 | 7,793 |
| Accrued expenses and other current liabilities | 51,946 | 63,044 |
| Total current liabilities | 135,978 | 164,522 |
| Long-term debt | 403,586 | 430,662 |
| Operating lease liabilities | 40,729 | 40,808 |
| Deferred tax liabilities | 16,175 | 17,194 |
| Income taxes payable | 4,661 | 4,355 |
| Other liabilities | 5,563 | 6,085 |
| Total liabilities | 606,692 | 663,626 |
| Commitments and contingencies (Note 14) | ||
| Stockholders’ equity: | ||
| Preferred shares, no par value; Authorized shares: 7,000; No shares issued and outstanding | ||
| Common shares, no par value; Authorized shares: unlimited; Issued and outstanding: 35,808 and 35,711, respectively | 423,856 | 423,856 |
| Additional paid-in capital | 57,488 | 55,155 |
| Retained earnings | 169,728 | 130,584 |
| Accumulated other comprehensive loss | (25,042) | (32,009) |
| Total stockholders' equity | 626,030 | 577,586 |
| Total liabilities and stockholders’ equity | $ 1,232,722 | $ 1,241,212 |
Novanta Inc., together with its subsidiaries, designs, manufactures, markets, and sells photonics, vision, and precision motion components and sub-systems to original equipment manufacturers in the medical and industrial markets worldwide. The company's Photonics segment offers photonics-based solutions, including laser scanning and beam delivery, CO2 laser, solid state laser, ultrafast laser, and optical light engine products serving photonics-based applications for industrial processing, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures. It's Vision segment provides a range of medical grade technologies, including medical insufflators, pumps, and related disposables; visualization solutions; wireless technologies, video recorders, and video integration technologies for operating room integrations; optical data collection and machine vision technologies; radio frequency identification technologies; thermal chart recorders; spectrometry technologies; and embedded touch screen solutions. In addition, its Precision Motion segment offers optical and inductive encoders, precision motors, servo drives and motion control solutions, integrated stepper motors, intelligent robotic end-of-arm technology solutions, air bearings, and air bearing spindles. The company sells its products through its direct sales force, resellers, distributors, and system integrators under the Cambridge Technology, Synrad, Laser Quantum, ARGES, WOM, NDS, NDSsi, Med X Change, Reach Technology, JADAK, ThingMagic, Photo Research, Celera Motion, MicroE, Zettlex, Applimotion, 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 founded in 1968 and is headquartered in Bedford, Massachusetts.