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>Based on the second quarter 2024 results, Abbott Laboratories displayed a strong overall performance cementing its position in various segments, while also highlighting areas that require further attention.</li><li>The company reported organic sales growth of over 9%, excluding COVID testing sales, surpassing analyst expectations and marking a 16% sequential increase from the first quarter.</li><li>This led the company to raise guidance for the full year, now forecasting organic sales growth of 9.5% to 10%, and adjusted earnings per share between $4.61 and $4.71.</li></ul>

Based on the second quarter 2024 results, Abbott Laboratories displayed a strong overall performance cementing its position in various segments, while also highlighting areas that require further attention.The company reported organic sales growth of over 9%, excluding COVID testing sales, surpassing analyst expectations and marking a 16% sequential increase from the first quarter.This led the company to raise guidance for the full year, now forecasting organic sales growth of 9.5% to 10%, and adjusted earnings per share between $4.61 and $4.71.

Abbott Laboratories: Expanding Sensor Technology & Other Innovations! - Major Drivers

<ul><li>Abbott Laboratories displayed robust performance during the Q4 2023 earnings call, reporting a growth of 11% in 2023 with organic sales increase of 14%.</li><li>Abbott's Chairman and CEO, Robert Ford, underscored the company's resilience and its strong footing despite the challenging conditions induced by the global pandemic.</li><li>Abbott’s operating margin is already on their pre pandemic level and the biggest opportunity for margin expansion is on the gross margin line.</li></ul>

Abbott Laboratories displayed robust performance during the Q4 2023 earnings call, reporting a growth of 11% in 2023 with organic sales increase of 14%.Abbott's Chairman and CEO, Robert Ford, underscored the company's resilience and its strong footing despite the challenging conditions induced by the global pandemic.Abbott’s operating margin is already on their pre pandemic level and the biggest opportunity for margin expansion is on the gross margin line.

Abbott Laboratories: Focus On Organic Growth Through Robust Product Portfolio! - Key Drivers

<ul><li>Abbott Laboratories managed to exceed analyst expectations in terms of revenue as well as earnings, boasting an adjusted earnings per share of $1.14.</li><li>The noteworthy achievement of double-digit organic sales growth in all major businesses for the third consecutive quarter, excluding COVID testing, underscored Abbott's robust market position in high-growth sectors.</li><li>The acceleration in sales growth is attributed to strategic positioning in attractive markets, fortified by additional investments made during the pandemic.</li></ul>

Abbott Laboratories managed to exceed analyst expectations in terms of revenue as well as earnings, boasting an adjusted earnings per share of $1.14.The noteworthy achievement of double-digit organic sales growth in all major businesses for the third consecutive quarter, excluding COVID testing, underscored Abbott's robust market position in high-growth sectors.The acceleration in sales growth is attributed to strategic positioning in attractive markets, fortified by additional investments made during the pandemic.

Abbott Laboratories: Strong Momentum In Core Business & The China Impact! - Major Drivers

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Event-Driven

<ul>
<li>A group of shareholders raised around US$530m in <a href="https://www.smartkarma.com/entities/mankind-pharma-ltd" target="_blank" data-smartkarma-citation="entities:36389:1" rel="noopener">Mankind Pharma</a>(MP) IPO in May 2023. The pre-IPO shareholders will be released from their lockup soon.</li>
<li>MP is a pharmaceutical company engaged in developing, manufacturing and marketing a range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.</li>
<li>In this note, we will talk about the lock-up dynamics and recent updates.</li>
</ul>


A group of shareholders raised around US$530m in Mankind Pharma(MP) IPO in May 2023. The pre-IPO shareholders will be released from their lockup soon.
MP is a pharmaceutical company engaged in developing, manufacturing and marketing a range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.
In this note, we will talk about the lock-up dynamics and recent updates.


Mankind Pharma Lock-Up - A US$1.1bn+ Lockup Release

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>
<a href="https://www.smartkarma.com/entities/medtronic-plc" target="_blank" data-smartkarma-citation="entities:14982:1" rel="noopener">Medtronic Plc (MDT US)</a> reported Q2FY24 revenue of $8B, representing 5% organic growth, topping guidance of 4.0–4.5%. Cardiovascular, neuroscience, and medical surgical grew mid-single-digit with diabetes accelerating to high-single-digit.</li>
<li>The company now expects FY24 organic revenue growth of 4.75% versus the prior 4.5%. Medtronic raised FY24 adjusted EPS guidance to $5.13–5.19 from $5.08–5.16 earlier.</li>
<li>In November, the company has received FDA approval for innovative renal denervation device for the treatment of hypertension, which should open a multi-billion-dollar market opportunity.</li>
</ul>



Medtronic Plc (MDT US) reported Q2FY24 revenue of $8B, representing 5% organic growth, topping guidance of 4.0–4.5%. Cardiovascular, neuroscience, and medical surgical grew mid-single-digit with diabetes accelerating to high-single-digit.
The company now expects FY24 organic revenue growth of 4.75% versus the prior 4.5%. Medtronic raised FY24 adjusted EPS guidance to $5.13–5.19 from $5.08–5.16 earlier.
In November, the company has received FDA approval for innovative renal denervation device for the treatment of hypertension, which should open a multi-billion-dollar market opportunity.


Medtronic (MDT US): Beat-And-Raise Q2; Weight Loss Drugs Not to Impact Growth; New Device Approval

United States

Abbott Laboratories discovers, develops, manufactures, and sells a broad and diversified line of health care products and services. The Company's products include pharmaceuticals, nutritional, diagnostics, and vascular products. Abbott markets its products worldwide through affiliates and distributors.

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Abbott Laboratories (ABT US)

Abbott Laboratories: Expanding Sensor Technology & Other Innovations! - Major Drivers

Based on the second quarter 2024 results, Abbott Laboratories displayed a strong overall performance cementing its position in various segments,...

Baptista Research

Abbott Laboratories: Focus On Organic Growth Through Robust Product Portfolio! - Key Drivers

Abbott Laboratories displayed robust performance during the Q4 2023 earnings call, reporting a growth of 11% in 2023 with organic sales increase...

Baptista Research

Abbott Laboratories: Strong Momentum In Core Business & The China Impact! - Major Drivers

Abbott Laboratories managed to exceed analyst expectations in terms of revenue as well as earnings, boasting an adjusted earnings per share of...

Baptista Research

Mankind Pharma Lock-Up - A US$1.1bn+ Lockup Release

The two pre-IPO investors have launched a block to sell around US$591m worth of Mankind Pharma shares. Since the lockup on the shares expired not...

Sumeet Singh

Medtronic (MDT US): Beat-And-Raise Q2; Weight Loss Drugs Not to Impact Growth; New Device Approval

Medtronic reported Q2FY24 organic revenue growth of 5%. The company raised FY24 organic revenue growth and EPS guidance. FDA approval for a new...

Tina Banerjee

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Abbott Laboratories: Expanding Sensor Technology & Other Innovations! - Major Drivers

Based on the second quarter 2024 results, Abbott Laboratories displayed a strong overall performance cementing its position in various segments,...

Baptista Research

Abbott Laboratories: Focus On Organic Growth Through Robust Product Portfolio! - Key Drivers

Abbott Laboratories displayed robust performance during the Q4 2023 earnings call, reporting a growth of 11% in 2023 with organic sales increase...

Baptista Research

Abbott Laboratories: Strong Momentum In Core Business & The China Impact! - Major Drivers

Abbott Laboratories managed to exceed analyst expectations in terms of revenue as well as earnings, boasting an adjusted earnings per share of...

Baptista Research

Mankind Pharma Lock-Up - A US$1.1bn+ Lockup Release

The two pre-IPO investors have launched a block to sell around US$591m worth of Mankind Pharma shares. Since the lockup on the shares expired not...

Sumeet Singh

Medtronic (MDT US): Beat-And-Raise Q2; Weight Loss Drugs Not to Impact Growth; New Device Approval

​Medtronic reported Q2FY24 organic revenue growth of 5%. The company raised FY24 organic revenue growth and EPS guidance. FDA approval for a new...

Tina Banerjee

Medtronic reported Q2FY24 organic revenue growth of 5%. The company raised FY24 organic revenue growth and EPS guidance. FDA approval for a new...