Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul>
<li>Novanta Inc.'s third quarter of 2024 results reflect a mixed performance driven by a challenging macroeconomic environment, customer-related timing issues, and some positive business developments.</li>
<li>The company reported revenue of $244 million, an increase of 10% year-over-year, though organic growth was flat.</li>
<li>Adjusted gross margins were 46%, a slight decline from the previous year due to the dilution from the Motion Solutions acquisition, although core business margins improved by 70 basis points.</li>
</ul>


Novanta Inc.'s third quarter of 2024 results reflect a mixed performance driven by a challenging macroeconomic environment, customer-related timing issues, and some positive business developments.
The company reported revenue of $244 million, an increase of 10% year-over-year, though organic growth was flat.
Adjusted gross margins were 46%, a slight decline from the previous year due to the dilution from the Motion Solutions acquisition, although core business margins improved by 70 basis points.


Novanta Inc.: An Insight Into Its Strategic Market Positioning in Robotics...

<ul>
<li>Novanta Incorporated presented its first quarter 2024 earnings with several notable financial achievements and strategic developments.</li>
<li>The company reported a total revenue of $231 million, surpassing previous guidance and demonstrating a 5% reported year-over-year growth.</li>
<li>This performance came despite a 4% organic revenue decline.</li>
</ul>


Novanta Incorporated presented its first quarter 2024 earnings with several notable financial achievements and strategic developments.
The company reported a total revenue of $231 million, surpassing previous guidance and demonstrating a 5% reported year-over-year growth.
This performance came despite a 4% organic revenue decline.


Novanta Inc.: A Diversified Business Exposure & Innovation In High-Growth Markets!

<ul>
<li>In the Q4 and full year 2023 earnings call, Novanta Inc reported a record revenue of $882 million, an over 100 basis point expansion in adjusted gross and EBITDA margins to 47% and $196 million respectively for the year.</li>
<li>Its sales grew 2% YoY on a reported basis and 1% organically.</li>
<li>However, the company's Q4 performance was less positive with a 3% decline in revenue on a reported basis and a 4% decline organically.</li>
</ul>


In the Q4 and full year 2023 earnings call, Novanta Inc reported a record revenue of $882 million, an over 100 basis point expansion in adjusted gross and EBITDA margins to 47% and $196 million respectively for the year.
Its sales grew 2% YoY on a reported basis and 1% organically.
However, the company's Q4 performance was less positive with a 3% decline in revenue on a reported basis and a 4% decline organically.


Novanta Inc.: Accelerated New Product Launches Catalyzing Growth? - Major Drivers

<ul>
<li>This is our first report on Novanta Inc., a leading player in the health and manufacturing sectors.</li>
<li>The company posted solid financial results for the third quarter (Q3) of 2023 that came in line with previously issued guidance.</li>
<li>Delivering above the company’s expectations, the financial performance was notably reflected in Novanta’s profit and cash flow.</li>
</ul>


This is our first report on Novanta Inc., a leading player in the health and manufacturing sectors.
The company posted solid financial results for the third quarter (Q3) of 2023 that came in line with previously issued guidance.
Delivering above the company’s expectations, the financial performance was notably reflected in Novanta’s profit and cash flow.


Novanta Inc: Unveiling the Future of Robotics & Precision Medicine!

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<p>The market’s bounce off of the December, 2018 low was a swift “V” reversal. While we often see a retest of such events, our outlook since that time has repeatedly suggested that a retest may not occur. We continue to believe the market remains healthy with overall and leadership remaining centered in the cyclical Sectors, mainly Technology.  In this publication we provide an overview of our U.S. equity strategy, and examine attractive opportunities in each of our 12 Sectors, beginning with Technology - our favorite.</p>

The market’s bounce off of the December, 2018 low was a swift “V” reversal. While we often see a retest of such events, our outlook since that time has repeatedly suggested that a retest may not occur. We continue to believe the market remains healthy with overall and leadership remaining centered in the cyclical Sectors, mainly Technology.  In this publication we provide an overview of our U.S. equity strategy, and examine attractive opportunities in each of our 12 Sectors, beginning with Technology - our favorite.

U.S. Equity Strategy: Positive Outlook Intact; Cyclicals Leading; Opportunities in Tech Sector

United States

Novanta, Inc. designs, develops, manufactures, and sells precision photonics and motion control components and subsystems. The Company offers its products to original equipment manufactures in the medical equipment and advanced industrial technology markets.

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Novanta (NOVT US)

Novanta Inc.: An Insight Into Its Strategic Market Positioning in Robotics...

Novanta Inc.'s third quarter of 2024 results reflect a mixed performance driven by a challenging macroeconomic environment, customer-related timing...

Baptista Research

Novanta Inc.: A Diversified Business Exposure & Innovation In High-Growth Markets!

Novanta Incorporated presented its first quarter 2024 earnings with several notable financial achievements and strategic developments.

Baptista Research

Novanta Inc.: Accelerated New Product Launches Catalyzing Growth? - Major Drivers

In the Q4 and full year 2023 earnings call, Novanta Inc reported a record revenue of $882 million, an over 100 basis point expansion in adjusted...

Baptista Research

Novanta Inc: Unveiling the Future of Robotics & Precision Medicine!

This is our first report on Novanta Inc., a leading player in the health and manufacturing sectors. The company posted solid financial results for...

Baptista Research

U.S. Equity Strategy: Positive Outlook Intact; Cyclicals Leading; Opportunities in Tech Sector

The market’s bounce off of the December, 2018 low was a swift “V” reversal. While we often see a retest of such events, our outlook since that time...

Vermilion Research

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