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

Integer Holdings Corporation operates as a medical device manufacturing company. The Company designs and develops medical devices and power solutions for the medical and non-medical markets. Integer Holdings serves patients worldwide.

<ul><li>Integer Holdings Corporation saw its shares jump 2% in after-hours trading on December 17, 2025, after reports emerged that activist investor Irenic Capital had taken a stake exceeding 3% in the medical device contract manufacturer and privately urged its board to consider strategic alternatives—including a potential sale.</li><li>According to sources cited by the *Wall Street Journal*, Irenic believes Integer is undervalued and could attract acquisition interest from private equity firms or strategic buyers willing to pay a significant premium to its current market price.</li><li>The move comes after Integer stock declined nearly 45% year-to-date, leaving its market capitalization around $2.6 billion.</li></ul>

Integer Holdings Corporation saw its shares jump 2% in after-hours trading on December 17, 2025, after reports emerged that activist investor Irenic Capital had taken a stake exceeding 3% in the medical device contract manufacturer and privately urged its board to consider strategic alternatives—including a potential sale.According to sources cited by the *Wall Street Journal*, Irenic believes Integer is undervalued and could attract acquisition interest from private equity firms or strategic buyers willing to pay a significant premium to its current market price.The move comes after Integer stock declined nearly 45% year-to-date, leaving its market capitalization around $2.6 billion.

Integer Stock Pops After Activist Push—Is a Sale Next?

The Cooper Companies, Inc. through its subsidiaries, develops, manufactures, and markets specialty healthcare products. The Company's products include contact lenses for the vision care market and diagnostic products, surgical instruments, and accessories for gynecologists and obstetricians.

<ul><li>Cooper Companies reported fourth-quarter and full-year earnings for 2025, highlighting key strategic priorities and financial results.</li><li>The company focused on gaining market share, enhancing earnings and free cash flow, and returning capital to shareholders.</li><li>Cooper Companies' President and CEO, Al White, expressed commitment to driving long-term shareholder value through various initiatives, including significant share repurchases and a formal strategic review to explore opportunities for enhancing shareholder returns.</li></ul>

Cooper Companies reported fourth-quarter and full-year earnings for 2025, highlighting key strategic priorities and financial results.The company focused on gaining market share, enhancing earnings and free cash flow, and returning capital to shareholders.Cooper Companies' President and CEO, Al White, expressed commitment to driving long-term shareholder value through various initiatives, including significant share repurchases and a formal strategic review to explore opportunities for enhancing shareholder returns.

The Cooper Companies Is Scaling MyDay and MiSight — And Market Share Is the Prize!

Global Healthcare Analyst

Tina Banerjee

Samsung Biologics Co.,Ltd. manufactures bio-healthcare products. The Company develops, refines, and distributes biopharmaceutical products.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/samsung-biologics-co-ltd" target="_blank" data-smartkarma-citation="entities:22932:1" rel="noopener">Samsung Biologics (207940 KS)</a> reported revenue of KRW1,660B (up 40% YoY and 29% QoQ) and operating profit of KRW729B (up 115% YoY and 53% QoQ) in 3Q25.</li>
<li>In 3Q25, the company continued to secure new manufacturing and development contracts with global pharmaceutical partners, bringing its cumulative contract volume to over $20B since its founding. </li>
<li>Amid steady client demand and efficient capacity utilization, Samsung Biologics is confident on achieving full-year revenue growth guidance of 25–30% YoY, as revised upward in last quarter.</li>
</ul>



Samsung Biologics (207940 KS) reported revenue of KRW1,660B (up 40% YoY and 29% QoQ) and operating profit of KRW729B (up 115% YoY and 53% QoQ) in 3Q25.
In 3Q25, the company continued to secure new manufacturing and development contracts with global pharmaceutical partners, bringing its cumulative contract volume to over $20B since its founding. 
Amid steady client demand and efficient capacity utilization, Samsung Biologics is confident on achieving full-year revenue growth guidance of 25–30% YoY, as revised upward in last quarter.


Samsung Biologics (207940 KS): Momentum Accelerates in 3Q; Solid Order Book; Reaffirms FY Guidance

Inclusive Investor Relations, Equity Development

Equity Development

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ECO Animal Health Group plc manufactures, supplies, and markets pharmaceutical products for the animal health markets worldwide. The company offers Aivlosin, a macrolide antibiotic for the treatment of respiratory and enteric diseases in pigs and poultry. It also provides generic drugs, such as Ecomectin, Ecoheart, Ecotraz, and Ecomintic, which are endectocides and other antiparasitics for the treatment and prevention of parasites in cattle, sheep, pigs, horses, and dogs; and Chlortet and Oxytet for the treatment of bacterial infections in pigs, poultry, and cattle. The company was founded in 1972 and is headquartered in New Malden, the United Kingdom.

<ul><li>ECO Animal Health Group has announced that the European Commission has adopted the decision granting EU marketing authorisation (MA) for ECOVAXXIN® MS, the poultry vaccine against Mycoplasma synoviae.</li><li>This important authorisation is key to commercialisation of this, the first of several major products under development to receive approval.</li><li> As the Group notes, the MA has been issued over a month earlier than anticipated.</li></ul>

ECO Animal Health Group has announced that the European Commission has adopted the decision granting EU marketing authorisation (MA) for ECOVAXXIN® MS, the poultry vaccine against Mycoplasma synoviae.This important authorisation is key to commercialisation of this, the first of several major products under development to receive approval. As the Group notes, the MA has been issued over a month earlier than anticipated.

Early EU authorisation for ECOVAXXIN® MS

Simcere Pharmaceutical Group / Equity Bottom-Up

Simcere Pharmaceutical Group manufactures and supplies branded generic pharmaceuticals to the China market. The Company's products include antibiotics, anti-cancer medications and anti-stroke medications.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/simcere-pharmaceutical-group" target="_blank" data-smartkarma-citation="entities:29186:1" rel="noopener">Simcere Pharmaceutical Group (2096 HK)</a> entered into a license agreement with Vigonvita Life Science Co. Ltd in respect of new indications (RSV and HMPV) of VV116 (Deuterated Remdesivir Hydrobromide).</li>
<li>There is no innovative small molecule antiviral drug approved for RSV infection globally. The development of effective RSV treatment represents a huge unmet medical need worldwide.</li>
<li>The licensing deals signed over the last few months alongside strong innovative drug portfolio, approvals and strong future pipeline makes it a bullish case.</li>
</ul>



Simcere Pharmaceutical Group (2096 HK) entered into a license agreement with Vigonvita Life Science Co. Ltd in respect of new indications (RSV and HMPV) of VV116 (Deuterated Remdesivir Hydrobromide).
There is no innovative small molecule antiviral drug approved for RSV infection globally. The development of effective RSV treatment represents a huge unmet medical need worldwide.
The licensing deals signed over the last few months alongside strong innovative drug portfolio, approvals and strong future pipeline makes it a bullish case.


Simcere Pharma (2096 HK): Agreement With Vigonvita Positive, Pipeline and Approvals Key Strength

Health Care
Several billion reasons

Integer Stock Pops After Activist Push—Is a Sale Next?

Integer Holdings Corporation saw its shares jump 2% in after-hours trading on December 17, 2025, after reports emerged that activist investor...

Baptista Research

Samsung Biologics (207940 KS): Momentum Accelerates in 3Q; Solid Order Book; Reaffirms FY Guidance

Samsung Biologics secures first U.S. manufacturing site through acquiring a GSK biologics facility, having 60K liters of drug substance capacity...

Tina Banerjee

Early EU authorisation for ECOVAXXIN® MS

ECO Animal Health Group has announced that the European Commission has adopted the decision granting EU marketing authorisation (MA) for...

Equity Development

Simcere Pharma (2096 HK): Agreement With Vigonvita Positive, Pipeline and Approvals Key Strength

Simcere inked exclusive outlicensing agreement with Ipsen Pharma for the development, manufacturing, and commercialization of SIM0613, a LRRC15...

Tina Banerjee

Integer Stock Pops After Activist Push—Is a Sale Next?

Integer Holdings Corporation saw its shares jump 2% in after-hours trading on December 17, 2025, after reports emerged that activist investor...

Baptista Research

The Cooper Companies Is Scaling MyDay and MiSight — And Market Share Is the Prize!

Cooper Companies reported fourth-quarter and full-year earnings for 2025, highlighting key strategic priorities and financial results. The company...

Baptista Research

Samsung Biologics (207940 KS): Momentum Accelerates in 3Q; Solid Order Book; Reaffirms FY Guidance

Samsung Biologics secures first U.S. manufacturing site through acquiring a GSK biologics facility, having 60K liters of drug substance capacity...

Tina Banerjee

Early EU authorisation for ECOVAXXIN® MS

ECO Animal Health Group has announced that the European Commission has adopted the decision granting EU marketing authorisation (MA) for...

Equity Development

Simcere Pharma (2096 HK): Agreement With Vigonvita Positive, Pipeline and Approvals Key Strength

Simcere inked exclusive outlicensing agreement with Ipsen Pharma for the development, manufacturing, and commercialization of SIM0613, a LRRC15...

Tina Banerjee