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>Halma plc recently reported its full-year financial results, highlighting both robust performance and certain challenges encountered in the dynamic market environment.</li>
<li>The company has delivered its 22nd consecutive year of profit growth, underscoring its sustainable growth model and effective strategy execution by leveraging its diversified portfolio across Safety, Environmental &amp; Analysis (E&amp;A), and Healthcare sectors.</li>
<li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li>
</ul>


Halma plc recently reported its full-year financial results, highlighting both robust performance and certain challenges encountered in the dynamic market environment.
The company has delivered its 22nd consecutive year of profit growth, underscoring its sustainable growth model and effective strategy execution by leveraging its diversified portfolio across Safety, Environmental &amp; Analysis (E&amp;A), and Healthcare sectors.
Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.


Halma’s New Diversification Strategy Could Redefine the Future of Photonics Technology...

Smartkarma AI, Smartkarma

αSK

Smartkarma AI

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
 <li>
Decentralized Model Driving Niche Market Leadership: Halma's unique business model, which involves acquiring and fostering growth in a portfolio of nearly 50 technology companies, allows it to maintain leadership positions in specialized global niches within the safety, environmental, and health markets. This decentralized structure promotes agility and entrepreneurial spirit within each operating company, supported by the financial strength and strategic guidance of the parent group.</li>
 <li>
Strong Financial Performance and Shareholder Returns: The company has a long-standing track record of delivering robust financial results, including consistent revenue and profit growth. This performance is underpinned by strong organic growth and a disciplined, value-accretive M&amp;A strategy, which has enabled an exceptional 46-year streak of annual dividend increases.</li>
 <li>
Resilient End Markets with Secular Growth Drivers: Halma operates in markets supported by powerful long-term trends, such as tightening safety and environmental regulations, increasing healthcare needs of aging populations, and the global focus on sustainability. These non-cyclical drivers provide a high degree of resilience and a clear runway for sustained future growth.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
Decentralized Model Driving Niche Market Leadership: Halma's unique business model, which involves acquiring and fostering growth in a portfolio of nearly 50 technology companies, allows it to maintain leadership positions in specialized global niches within the safety, environmental, and health markets. This decentralized structure promotes agility and entrepreneurial spirit within each operating company, supported by the financial strength and strategic guidance of the parent group.
  
Strong Financial Performance and Shareholder Returns: The company has a long-standing track record of delivering robust financial results, including consistent revenue and profit growth. This performance is underpinned by strong organic growth and a disciplined, value-accretive M&amp;A strategy, which has enabled an exceptional 46-year streak of annual dividend increases.
  
Resilient End Markets with Secular Growth Drivers: Halma operates in markets supported by powerful long-term trends, such as tightening safety and environmental regulations, increasing healthcare needs of aging populations, and the global focus on sustainability. These non-cyclical drivers provide a high degree of resilience and a clear runway for sustained future growth.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

<ul>
<li>UK Fund exposure in Softcat PLC has reached new highs.  The percentage of UK funds invested in Softcat now stands at a record 17.3% with average holding weights of 0.21%</li>
<li>Softcat PLC moves to the 5th most widely held Technology stock in the UK, sharing similar ownership characteristics to Spirent Communications, Halma PLC and Oxford Instruments.</li>
<li>With Softcat approaching the boundaries of FTSE 100 inclusion, it’s not hard to envisage investment levels moving higher from here.</li>
</ul>


UK Fund exposure in Softcat PLC has reached new highs.  The percentage of UK funds invested in Softcat now stands at a record 17.3% with average holding weights of 0.21%
Softcat PLC moves to the 5th most widely held Technology stock in the UK, sharing similar ownership characteristics to Spirent Communications, Halma PLC and Oxford Instruments.
With Softcat approaching the boundaries of FTSE 100 inclusion, it’s not hard to envisage investment levels moving higher from here.


Softcat PLC: Record Overweight as UK Managers Buy In

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

Developed international equities (MSCI EAFE) have been underperforming relative to global equities (MSCI ACWI). However, within EAFE, SMID-caps tell a different story and are a great source of investment ideas within the EAFE region. In today’s report we use a bottom-up approach to highlight actionable charts, sorted by market cap (all buys at current levels).

Developed international equities (MSCI EAFE) have been underperforming relative to global equities (MSCI ACWI). However, within EAFE, SMID-caps tell a different story and are a great source of investment ideas within the EAFE region. In today’s report we use a bottom-up approach to highlight actionable charts, sorted by market cap (all buys at current levels).

Frontier and emerging markets (Vietnam)

Dylan Waller

Nomadic Equity

Thematic (Sector/Industry)

Transition from the Irish Stock Exchange to the London Stock ExchangeDragon Capital’s fund <a href="https://www.smartkarma.com/entities/22754" target="_blank" data-smartkarma-citation="entities:22754">Vietnam Enterprise Investments Limited</a>, which currently trades on the Irish Stock Exchange, may trade on the main market of the London Stock Exchange next month.  The company plans to hold an Extraordinary General Meeting on June the 21st to vote on the approval of this transfer, which is expected to potentially take place next month.  The fund currently manages over $850 million, and is most notable for…

Transition from the Irish Stock Exchange to the London Stock ExchangeDragon Capital’s fund Vietnam Enterprise Investments Limited, which currently trades on the Irish Stock Exchange, may trade on the main market of the London Stock Exchange next month.  The company plans to hold an Extraordinary General Meeting on June the 21st to vote on the approval of this transfer, which is expected to potentially take place next month.  The fund currently manages over $850 million, and is most notable for…

Dragon Capital's VEIL Fund: A 3rd London Listing for Vietnam May Emerge Next Month

United Kingdom

Halma PLC is a health and safety sensor technology group which manufactures products that detect hazards and also protect assets and people at work in public and commercial buildings. Halma develops technologies and products that are used for analysis in safety, environmental and leisure related markets, including water, to improve personal and public health.

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Halma PLC (HLMA LN)

Halma’s New Diversification Strategy Could Redefine the Future of Photonics Technology...

Halma plc recently reported its full-year financial results, highlighting both robust performance and certain challenges encountered in the dynamic...

Baptista Research

Primer: Halma PLC (HLMA LN) - Sep 2025

Decentralized Model Driving Niche Market Leadership: Halma's unique business model, which involves acquiring and fostering growth in a...

αSK

Softcat PLC: Record Overweight as UK Managers Buy In

UK active long-only fund exposure in Softcat PLC has hit record highs as it approaches the boundaries of FTSE 100 inclusion.

Steven Holden

Focus on Outperforming EAFE SMID-Caps

Developed international equities (MSCI EAFE) have been underperforming relative to global equities (MSCI ACWI). However, within EAFE, SMID-caps...

Vermilion Research

Dragon Capital's VEIL Fund: A 3rd London Listing for Vietnam May Emerge Next Month

Transition from the Irish Stock Exchange to the London Stock ExchangeDragon Capital’s fund Vietnam Enterprise Investments Limited, which currently...

Nomadic Equity

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