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>Cencora, a leading healthcare solutions company, held a discussion reviewing its fiscal 2024 second-quarter results, highlighting both strengths and areas of concern as the organization continues to navigate a complex and evolving market landscape.</li>
<li>The transition announcement of Bob Mauch replacing Steven Collis as CEO presents both an opportunity for continuity and the challenge of strategic execution during leadership changes.</li>
<li>Revenue for the quarter increased by 8%, with an adjusted EPS growth of 9%.</li>
</ul>


Cencora, a leading healthcare solutions company, held a discussion reviewing its fiscal 2024 second-quarter results, highlighting both strengths and areas of concern as the organization continues to navigate a complex and evolving market landscape.
The transition announcement of Bob Mauch replacing Steven Collis as CEO presents both an opportunity for continuity and the challenge of strategic execution during leadership changes.
Revenue for the quarter increased by 8%, with an adjusted EPS growth of 9%.


Cencora Inc.: These Are The 6 Pivotal Factors Impacting Their Performance! - Financial Forecasts

<ul>
<li>Cencora announced during its First Quarter 2024 Earnings, a year-over-year increase in revenue of 15% to over $72 billion, with adjusted earnings per share also increasing year-over-year by 21%.</li>
<li>Recognizing the strong first quarter performance, the company has raised its full-year guidance for fiscal 2024.</li>
<li>The company's performance was fueled by the execution of commercial partnerships and strategic positioning, with teams prioritizing customer-centricity and enhancing service provision.</li>
</ul>


Cencora announced during its First Quarter 2024 Earnings, a year-over-year increase in revenue of 15% to over $72 billion, with adjusted earnings per share also increasing year-over-year by 21%.
Recognizing the strong first quarter performance, the company has raised its full-year guidance for fiscal 2024.
The company's performance was fueled by the execution of commercial partnerships and strategic positioning, with teams prioritizing customer-centricity and enhancing service provision.


Cencora Inc.: These Are The 3 Biggest Challenges In Its Path For Growth! - Key Drivers

<ul><li>AmerisourceBergen Corporation managed to surpass the revenue and earnings expectations of Wall Street in the last quarter.</li><li>The company observed continued progress across its businesses in the quarter, producing significant revenue growth.</li><li>We give AmerisourceBergen Corporation a 'Hold' rating with a revised target price.</li></ul>

AmerisourceBergen Corporation managed to surpass the revenue and earnings expectations of Wall Street in the last quarter.The company observed continued progress across its businesses in the quarter, producing significant revenue growth.We give AmerisourceBergen Corporation a 'Hold' rating with a revised target price.

AmerisourceBergen Corporation: 4 Pillars Behind Their Revenue Growth! - Financial Forecasts

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>On 31 January, <a href="https://www.smartkarma.com/entities/walmart-inc" target="_blank" data-smartkarma-citation="entities:11134:1" rel="noopener">Walmart (WMT US)</a> announced a 3:1 stock split. For cognoscenti, that meant a Dow Jones Industrial Avg might be in the offing.</li>
<li>The last change to the index was in Aug-2020, spurred by the 4:1 split for <a href="https://www.smartkarma.com/entities/apple-inc" target="_blank" data-smartkarma-citation="entities:666:1" rel="noopener">Apple (AAPL US)</a>. This time, the likely deletion candidate was <a href="https://www.smartkarma.com/entities/walgreens-boots-alliance-inc" target="_blank" data-smartkarma-citation="entities:1118:1" rel="noopener">Walgreens Boots Alliance (WBA US)</a>. </li>
<li>Indeed, last week, the Index Keepers announced <a href="https://www.smartkarma.com/entities/amazon-com-inc" target="_blank" data-smartkarma-citation="entities:409:1" rel="noopener">Amazon.com Inc (AMZN US)</a> would replace Walgreens Boots Alliance on 26 Feb (i.e. WBA would be booted on the close of 23 Feb).</li>
</ul>


On 31 January, Walmart (WMT US) announced a 3:1 stock split. For cognoscenti, that meant a Dow Jones Industrial Avg might be in the offing.
The last change to the index was in Aug-2020, spurred by the 4:1 split for Apple (AAPL US). This time, the likely deletion candidate was Walgreens Boots Alliance (WBA US). 
Indeed, last week, the Index Keepers announced Amazon.com Inc (AMZN US) would replace Walgreens Boots Alliance on 26 Feb (i.e. WBA would be booted on the close of 23 Feb).


Walgreens Boots Alliance (WBA US) - How Do Dow Jones Deletes Do Historically?

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

NASDAQ Composite Index / Technical Analysis

<ul>
<li>Following last week's pullback, a consistent theme we are seeing is that many broad market indexes and Sector ETFs are holding above (and bouncing at) major base supports.</li>
<li>As long as these base supports continue to hold, it tells us this is likely just a normal pullback within the overall bullish trend.</li>
<li>Important supports that we need to see hold in order to remain bullish include 4600 on the S&amp;P 500 and 14,400 on the Nasdaq Composite.</li>
</ul>


Following last week's pullback, a consistent theme we are seeing is that many broad market indexes and Sector ETFs are holding above (and bouncing at) major base supports.
As long as these base supports continue to hold, it tells us this is likely just a normal pullback within the overall bullish trend.
Important supports that we need to see hold in order to remain bullish include 4600 on the S&amp;P 500 and 14,400 on the Nasdaq Composite.


Major Base Supports Holding; DXY Testing the 2-Month Downtrend; 4600 on SPX Remains Key Support

United States

Molina Healthcare Inc. is a managed care organization.  The Company arranges for the delivery of health care services to persons eligible for Medicaid and other programs for low-income families and individuals.  Molina Healthcare has health plans in California, Washington, Utah, and Michigan, as well as primary care clinics located in Northern and Southern California.

Cardinal Health, Inc. provides complementary products and services to healthcare providers and manufacturers.  The Company's services include pharmaceutical distribution, health-care product manufacturing, distribution and consulting services, drug delivery systems development, pharmaceutical packaging, automated dispensing systems manufacturing, and retail pharmacy franchising.

Humana Inc. is a managed health care company with medical members located in the United States and Puerto Rico.  The Company offers coordinated health care through health maintenance organizations, preferred provider organizations, point-of-service plans, and administrative services products.  Humana offers its products to employer groups, government-sponsored plans, and individuals.

Quest Diagnostics Incorporated provides diagnostic testing, information, and services.  The Company operates a national network of full-service laboratories, rapid response laboratories, and patient service centers.  Quest Diagnostics provides esoteric testing, routine medical testing, drugs of abuse testing, and non-hospital-based anatomicpathology testing.

Laboratory Corporation of America Holdings is a clinical laboratory company that offers clinical laboratory tests used by the medical profession in routine testing, patient diagnosis, and in the monitoring and treatment of disease. The Company develops specialty testing operations, such as oncology testing, HIV genotyping and phenotyping, diagnostic genetics and clinical trials.

Laboratory Corporation of America Holdings (LH US)

Laboratory Corporation of America Holdings

Centene Corporation is a multi-line managed care organization that provides Medicaid and Medicaid-related programs.  The Company has health plans in several states. The Company also provides specialty services, including behavioral health, nurse triage, and treatment compliance.

McKesson Corporation distributes pharmaceuticals, medical-surgical supplies, and health and beauty care products throughout North America. The Company also develops, implements, and supports software that facilitates the integration of data throughout the health enterprise.  In addition, McKesson offers analytic, care management, and patient solutions for payers.

Universal Health Services, Inc. is a healthcare management company. The Company operates acute care hospitals, behavioral health centers, and surgery centers. Universal provides services such as general surgery, internal medicine, radiology, and pediatric services throughout the United States and Puerto Rico.

Ensign Group, Inc. operates facilities offering nursing and rehabilitative care services in multiple states. The Company provides a broad spectrum of nursing and assisted living services, physical, occupational and speech therapies, and other rehabilitative and healthcare services, for both long-term residents and short-stay rehabilitation patients.

Encompass Health Corporation provides inpatient rehabilitative healthcare services.  The Company operates inpatient rehabilitation hospitals, outpatient and rehabilitation satellites, and home health agencies. Encompass Health provides treatment on both an inpatient and outpatient basis.

Aier Eye Hospital Group Co., Ltd provides ophthalmological services.  The Company's services include ophthalmological diagnosis and treatments.

Fresenius SE & Co KGaA is a global health care group with products and services for dialysis, the hospital and the medical care of patients at home. The Company sells dialysis, infusion, transfusion, and diagnostics equipment and systems, blood separators, plasma, hemofilters, nutritional liquids, and solid and liquid pharmaceuticals.

Sinopharm Group Co Ltd is a pharmacy distribution company. The Company also owns several pharmacy enterprise groups in different industries such as logistics, retail stores, pharmaceutical manufacturing, and chemical testing.

Shanghai Pharmaceuticals Holding Co., Ltd. manufactures, retails, and wholesales a variety of pharmaceuticals including biopharmaceuticals, chemical and Chinese traditional medicines, and healthcare products. The Company also invests in new medicine development and provides related services.

Shanghai Pharmaceuticals Holding (2607 HK)

Ramsay Health Care Ltd. provides health care services. The Company offers private hospital services, including, rehabilitation, psychiatric care, day, and complex surgery. Ramsay Health Care owns, operates, and manages health care facilities throughout Australia, Indonesia, and Europe.

Bangkok Dusit Medical Services Public Company Limited operates Bangkok General Hospital. The Hospital specializes in cardiovascular, lung, neurological, eye and genitourinary cancer, as well as physical therapy and medical imaging.

Apollo Hospitals Enterprise Limited owns and operates hospitals in India.  The Company also runs a 24-hour pharmacy network via over 120 outlets across India. Apollo Hospitals also runs clinics and offer managed care and family health plans. The Company has a variety of locations in Chennai, Hyderabad, Delhi, Dubai, Vizag, Bilaspur and Chengannur.

Sonic Healthcare Limited is a medical diagnostics company with operations in Australia, New Zealand, and Europe.  The Company provides a comprehensive range of pathology and diagnostic imaging services to medical practitioners, hospitals and their patients along with providing administrative services and facilities to medical practitioners.

Amplifon S.p.A. retails and fits hearing aids and supplies correlated services aimed at the solution of problems related to the loss of hearing.  The Group operates in Italy, France, Spain, Portugal, Switzerland, Austria, Holland, the United States, Hungary, and Egypt.  Amplifon operates through a network of distribution centers and licensee network affiliates.

Fresenius Medical Care AG & Co. KGaA offers kidney dialysis services and manufactures and distributes equipment and products used in the treatment of dialysis patients. The Company also offers clinical laboratory testing and diagnostic testing services and provides home infusion, respiratory therapy, ultrasound, and echo-cardiography. Fresenius operates worldwide.

Cencora, Inc. operates as a pharmaceutical company. The Company offers end-to-end pharmaceutical commercialization solutions, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to healthcare providers. Cencora distributes its products internationally.

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Cencora (COR US)

Cencora Inc.: These Are The 6 Pivotal Factors Impacting Their Performance! - Financial Forecasts

Cencora, a leading healthcare solutions company, held a discussion reviewing its fiscal 2024 second-quarter results, highlighting both strengths...

Baptista Research

Cencora Inc.: These Are The 3 Biggest Challenges In Its Path For Growth! - Key Drivers

Cencora announced during its First Quarter 2024 Earnings, a year-over-year increase in revenue of 15% to over $72 billion, with adjusted earnings...

Baptista Research

AmerisourceBergen Corporation: 4 Pillars Behind Their Revenue Growth! - Financial Forecasts

AmerisourceBergen Corporation managed to surpass the revenue and earnings expectations of Wall Street in the last quarter. The company observed...

Baptista Research

Walgreens Boots Alliance (WBA US) - How Do Dow Jones Deletes Do Historically?

Walgreens was given the boot from the Dow Jones Industrial Average on Friday at the close. Historically, DELETEs outperform their ADDs and DJIA in...

Travis Lundy

Major Base Supports Holding; DXY Testing the 2-Month Downtrend; 4600 on SPX Remains Key Support

A consistent theme we are seeing is that many broad market indexes and Sector ETFs are holding above (and bouncing at) major base supports...

Vermilion Research

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