ACK Asset Management's $45 Million Bet on Novanta: Why the Stock is Worth Watching

ACK Asset Management acquired 375,000 shares of Novanta, worth an estimated $44.62 million, marking a new position in the company. Novanta designs and manufactures photonics, vision, and precision motion components and sub-systems for medical and industrial OEMs. Despite being roughly flat over the past year, the company generated $247.8 million in Q3 revenue, up 1.4% YoY, and has guidance for FY25 revenue of $975 million to $979 million and adjusted EBITDA of $222 million to $225 million.