Next Generation Financial Data Tools, Calcbench

Calcbench

Next Generation Financial Data Tools

Founded in 2011, based in New York and Cambridge, MA, Calcbench is a financial data platform designed for detailed fundamental research. Created by former analysts and supported by a team of financial experts with serious credentials in Finance, Accounting, and Applied Mathematics, Calcbench helps analysts looking to go a level deeper become more productive and accurate in their financial analysis. With Calcbench, analysts can systematically access all the data (numbers and text) in financial statements, including the details hidden within the footnotes.

Equity Bottom-Up

<ul><li>Like everyone else on the planet, Calcbench has been relieved to see the covid-19 pandemic recede into the background of daily life.</li><li>Now, however, Johnson &amp; Johnson ’s latest earnings report gives us a glimpse of what that fade means for corporate earnings.</li><li>J&amp;J ($JNJ) filed its earnings report on Tuesday morning .</li></ul>

Like everyone else on the planet, Calcbench has been relieved to see the covid-19 pandemic recede into the background of daily life.Now, however, Johnson &amp; Johnson ’s latest earnings report gives us a glimpse of what that fade means for corporate earnings.J&amp;J ($JNJ) filed its earnings report on Tuesday morning .

Johnson & Johnson’s Covid-19 Operations

Equity Long-Short Analyst

Pyari Menon

Thematic (Sector/Industry)

<ul>
<li>In this report we analyzed data from technical publications to review leadership in RNA related therapeutics. We have listed the top thirty.</li>
<li>In terms of quantity and quality of innovations <a href="https://www.smartkarma.com/entities/alnylam-pharmaceuticals-inc" target="_blank" data-smartkarma-citation="entities:2191:1" rel="noopener">Alnylam Pharmaceuticals (ALNY US)</a>  and <a href="https://www.smartkarma.com/entities/moderna-inc" target="_blank" data-smartkarma-citation="entities:28744:1" rel="noopener">Moderna (MRNA US)</a>  are best positioned. Among private companies Senda Biosciences screened well. </li>
<li>Partnerships and acquisitions  between RNA startups and big pharma as well as between big pharma and big pharma highlight RNA's potential versatility, risks and the necessity for RNA related exposure.</li>
</ul>


In this report we analyzed data from technical publications to review leadership in RNA related therapeutics. We have listed the top thirty.
In terms of quantity and quality of innovations Alnylam Pharmaceuticals (ALNY US)  and Moderna (MRNA US)  are best positioned. Among private companies Senda Biosciences screened well. 
Partnerships and acquisitions  between RNA startups and big pharma as well as between big pharma and big pharma highlight RNA's potential versatility, risks and the necessity for RNA related exposure.


Who Are Leading the Charge in the RNAissance of Medicine

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>
<a href="https://www.smartkarma.com/entities/asahi-intecc-co-ltd" target="_blank" data-smartkarma-citation="entities:15915:1" rel="noopener">Asahi Intecc (7747 JP)</a> is poised for multi-year growth through strong market demand for its technically superior guidewires, market leadership positioning, new product launches, and direct marketing initiatives.</li>
<li>In FY24, Asahi Intecc aims to achieve revenue of ¥100B (+11% YoY), a significant milestone. The company targets revenue of ¥110B and an operating profit margin of 23–25% in FY26.</li>
<li>Asahi Intecc is expected to be a continued beneficiary of global procedure volume recovery. The company is likely to achieve its medium-term business plan ahead of schedule.</li>
</ul>



Asahi Intecc (7747 JP) is poised for multi-year growth through strong market demand for its technically superior guidewires, market leadership positioning, new product launches, and direct marketing initiatives.
In FY24, Asahi Intecc aims to achieve revenue of ¥100B (+11% YoY), a significant milestone. The company targets revenue of ¥110B and an operating profit margin of 23–25% in FY26.
Asahi Intecc is expected to be a continued beneficiary of global procedure volume recovery. The company is likely to achieve its medium-term business plan ahead of schedule.


2024 High Conviction: Asahi Intecc (7747 JP)- Procedure Volume Recovery to Accelerate Growth

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>Bloomberg <a href="https://www.bloomberg.com/news/articles/2023-11-10/asia-pulp-paper-is-said-to-bid-for-stake-in-tissue-maker-vinda#xj4y7vzkg" target="_blank" rel="noopener">reported</a> Asia Pulp &amp; Paper is the latest party to have expressed interest in acquiring <a href="https://www.smartkarma.com/entities/essity-ab" target="_blank" data-smartkarma-citation="entities:28203:1" rel="noopener">Essity (ESSITYB SS)</a>’s controlling <a href="https://www.smartkarma.com/entities/vinda-international-holdings-limited" target="_blank" data-smartkarma-citation="entities:475:1" rel="noopener">Vinda International (3331 HK)</a> stake at more than HK$20 per share.</li>
<li>Vinda has three substantial shareholders. We think the most likely structure is a bidder acquiring Essity’s stake, which would trigger a mandatory general offer.</li>
<li>Vinda's recent update points to improving growth and margins. Peers and historical multiples imply a fair price range of HK$21-26 per share, a 7-32% premium to the last close.</li>
</ul>


Bloomberg reported Asia Pulp &amp; Paper is the latest party to have expressed interest in acquiring Essity (ESSITYB SS)’s controlling Vinda International (3331 HK) stake at more than HK$20 per share.
Vinda has three substantial shareholders. We think the most likely structure is a bidder acquiring Essity’s stake, which would trigger a mandatory general offer.
Vinda's recent update points to improving growth and margins. Peers and historical multiples imply a fair price range of HK$21-26 per share, a 7-32% premium to the last close.


Vinda International (3331 HK): Essity’s Stake Attracts More Potential Bidders

Quantitative Equity Analyst, DMA

Charlotte van Tiddens, CFA

Quantitative Equity Analyst

Technology-First Company

DMA is a technology-first company that provides an end-to-end SaaS solution to institutional investors. DMA enables regulated entities like asset managers, wealth managers, investment managers and financial advisors to connect their front and back office, break silos and reduce headcount.

Quantitative Analysis

<ul>
<li>Short duration US factor strategies outperformed in September as markets came under pressure (value and dividend yield).</li>
<li>Despite keeping rates unchanged on the 20th of September at 5.5% (upper bound), Fed Chair Powell indicated that rates would be kept higher for longer than initially anticipated.</li>
<li>In this note we explore the <em><strong>relative performance</strong></em> of US factor strategies through different interest rate cycles, to inform timing around factor/style rotation.</li>
</ul>


Short duration US factor strategies outperformed in September as markets came under pressure (value and dividend yield).
Despite keeping rates unchanged on the 20th of September at 5.5% (upper bound), Fed Chair Powell indicated that rates would be kept higher for longer than initially anticipated.
In this note we explore the relative performance of US factor strategies through different interest rate cycles, to inform timing around factor/style rotation.


US Factor Strategies: Value and Dividend Yield Outperform in September, Higher for Longer Narrative

United States

Johnson & Johnson manufactures health care products and provides related services for the consumer, pharmaceutical, and medical devices and diagnostics markets.  The Company sells products such as skin and hair care products, acetaminophen products, pharmaceuticals, diagnostic equipment, and surgical equipment in countries located around the world.

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Johnson & Johnson (JNJ US)

Johnson & Johnson’s Covid-19 Operations

Like everyone else on the planet, Calcbench has been relieved to see the covid-19 pandemic recede into the background of daily life.

Calcbench

Who Are Leading the Charge in the RNAissance of Medicine

RNA therapeutics: We analyze the field and spotlight top players driving this precision medicine, for tackling rare diseases with innovative solutions

Pyari Menon

2024 High Conviction: Asahi Intecc (7747 JP)- Procedure Volume Recovery to Accelerate Growth

Asahi Intecc is poised for double-digit sales growth through FY26, driven by strong market demand for guidewires, market leadership positioning,...

Tina Banerjee

Vinda International (3331 HK): Essity’s Stake Attracts More Potential Bidders

Vinda’s improving performance has supported the increasing list of potential bidders. The most likely bid structure is the acquisition of Essity’s...

Arun George

US Factor Strategies: Value and Dividend Yield Outperform in September, Higher for Longer Narrative

US rates and factor strategies: higher for longer likely to drive outperformance of short duration factor strategies, long US value short US growth.

DMA

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