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>In its fiscal year 2024 Q4 earnings, Medtronic reported significant revenue growth and strong earnings, demonstrating the effectiveness of its strategies to drive growth and profitability.</li><li>The company's four segments delivered mid-single-digit or higher revenue growth, with total revenue growth exceeding 5% for the full fiscal year.</li><li>This record growth was largely driven by new product innovations across Medtronic's cardiovascular, robotics, diabetes care, and other therapeutic segments.</li></ul>

In its fiscal year 2024 Q4 earnings, Medtronic reported significant revenue growth and strong earnings, demonstrating the effectiveness of its strategies to drive growth and profitability.The company's four segments delivered mid-single-digit or higher revenue growth, with total revenue growth exceeding 5% for the full fiscal year.This record growth was largely driven by new product innovations across Medtronic's cardiovascular, robotics, diabetes care, and other therapeutic segments.

Medtronic plc: Expansion Of Global Operations & Supply Chain Transformation! - Major Drivers

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

<ul><li>Medtronic delivered a solid quarter with its mid-single-digit revenue growth exceeding expectations.</li><li>The fiscal '24 third quarter earnings were underpinned by strength across multiple businesses like Core Spine, Cardiac Surgery, Structural Heart and Cardiac Pacing, along with robust growth witnessed across various international markets.</li><li>Innovation-driven core technologies such as robotics, AI and closed-loop systems acted as significant growth propellers, with five AI products already FDA approved.</li></ul>

Medtronic delivered a solid quarter with its mid-single-digit revenue growth exceeding expectations.The fiscal '24 third quarter earnings were underpinned by strength across multiple businesses like Core Spine, Cardiac Surgery, Structural Heart and Cardiac Pacing, along with robust growth witnessed across various international markets.Innovation-driven core technologies such as robotics, AI and closed-loop systems acted as significant growth propellers, with five AI products already FDA approved.

Medtronic plc: Data Driven Innovations & 5 Major Drivers Of Its Future Growth! - Financial Forecasts

<ul><li>Medtronic plc delivered an all-around beat in the previous quarter, delivering mid-single-digit revenue growth across diverse business segments and global regions.</li><li>Cardiovascular, Neuroscience, and Medical Surgical sectors all contributed to this growth, with Diabetes witnessing an acceleration to high single-digit growth.</li><li>Synergistic businesses, encompassing Aortic, Coronary, Cardiac Surgery, and Endoscopy, achieved mid-single-digit growth, with standout performances in various segments.</li></ul>

Medtronic plc delivered an all-around beat in the previous quarter, delivering mid-single-digit revenue growth across diverse business segments and global regions.Cardiovascular, Neuroscience, and Medical Surgical sectors all contributed to this growth, with Diabetes witnessing an acceleration to high single-digit growth.Synergistic businesses, encompassing Aortic, Coronary, Cardiac Surgery, and Endoscopy, achieved mid-single-digit growth, with standout performances in various segments.

Medtronic PLC: Can The New FDA Approval Help Them Revolutionize Hypertension Treatment? - Major Drivers

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

<ul>
<li>In this insight, we discuss the additional financing requirements, changed shareholding structure, and the next steps for Eoflow. </li>
<li>Eoflow is one of the best performing stocks in the Korean stock market in the past one month as its shares have soared 249% in this period.</li>
<li>The details of the oral argument (Insulet vs Eoflow) at the U.S. Appellate Court suggest that the U.S. Appellate Court may rule in favor of Eoflow.</li>
</ul>


In this insight, we discuss the additional financing requirements, changed shareholding structure, and the next steps for Eoflow. 
Eoflow is one of the best performing stocks in the Korean stock market in the past one month as its shares have soared 249% in this period.
The details of the oral argument (Insulet vs Eoflow) at the U.S. Appellate Court suggest that the U.S. Appellate Court may rule in favor of Eoflow.


Eoflow: Financing Requirements, Changing Shareholding Structure, and the Next Steps

United States

STERIS Public Limited Company operates as a provider of infection prevention and other procedural products and services. The Company offers sterilizers and washers, surgical tables, lights and equipment management systems, and endoscopy accessories. STERIS serves healthcare, pharmaceutical, and medical device industries.

West Pharmaceutical Services, Inc. applies value-added services to the process of bringing new drug therapies and healthcare products to global markets. The Company's technologies include the design and manufacture of packaging components, research and development of drug delivery systems, and contract laboratory services and other services.

West Pharmaceutical Services Inc (WST US)

ResMed Inc. develops, manufactures, and markets medical equipment for the treatment of sleep disordered breathing.  The Company sells diagnostic and treatment devices in various countries through its subsidiaries and independent distributors.

Hologic, Inc. is a developer, manufacturer and supplier of premium diagnostic products, medical imaging systems, and surgical products. The Company's core business units focus on diagnostics, breast health, GYN surgical, and skeletal health.

DexCom Inc. is a medical device company focused on the design and development of continuous glucose monitoring systems for people with diabetes.  The Company has developed a small implantable device that continuously measures glucose levels in subcutaneous tissue just under the skin, and a small external receiver to which the sensor transmits glucose levels at specified intervals.

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.

Becton, Dickinson and Company is a global medical technology company engaged principally in the development, manufacture and sale of medical devices, instrument systems and reagents used by healthcare institutions, life science researchers, clinical laboratories, the pharmaceutical industry and the general public.

IDEXX Laboratories, Inc. provides diagnostic, detection, and information systems for veterinary, food, and water testing applications. The Company also operates an international network of veterinary reference laboratories. IDEXX offers its products to customers worldwide.

Baxter International Inc. develops, manufactures, and markets products and technologies related to hemophilia, immune disorders, infectious diseases, kidney disease, trauma and other chronic and acute medical conditions. The Company's products are used by hospitals, kidney dialysis centers, nursing homes, rehabilitation centers, doctors' offices, and research laboratories.

Globus Medical, Inc. is a medical device company. The Company is focused exclusively on the design, development and commercialization of products that promote healing in patients with spine disorders.  Globus Medical's products fall into innovative fusion or disruptive technologies.

OLYMPUS CORPORATION manufactures optoelectronic products.  The Company's products include cameras, video sets, endoscopes for medicine and industrial use, microscopes, analytical equipment, office communication systems, laseroptical scanners, and ionic printers.

EssilorLuxottica manufactures eyewear. The Company offers sun glasses, lenses, and other eye care products. EssilorLuxottica serves customers worldwide.

Coloplast A/S develops and provides health care products and services. The Company manufactures products for ostomy, incontinence, mastectomy, wound healing, and skin care. Coloplast's research projects are carried out in cooperation with professional caregivers and user groups. The Company sells to health care professionals, dealers, and product users throughout the world.

Terumo Corporation is a manufacturer and supplier of pharmaceuticals and medical tools and equipment. The Company's products include health foods, transfusion and infusion equipment, disposable medical supply, clinical testing systems, artificial organs, and electronic thermometers. Terumo markets the products through its subsidiaries and sales offices in the US, Europe, and Asia.

Hoya Corp manufactures electro-optics products such as mask blanks for semiconductors, photomasks for LCD panels, optical glasses, glass memory disks for HDDs, medical flexible endoscopes, eyeglasses, and contact lenses. The Company also provides information system architecture.

Fisher & Paykel Healthcare Corporation Limited designs, manufactures and markets heated humidification products and systems for use in respiratory care and the treatment of sleep apnea.  The Company also offers patient warming and neonatal care products, including warming products and infant resuscitators.

SYSMEX CORPORATION manufactures reagents and equipment for clinical tests including hematologic (blood) and immune tests. The Company also develops, manufactures, and trades particle analyzers such as blood coagulation analyzer and related software. Manufacturing and sales outside Japan include the United States, EMEA, China and Asia Pacific regions.

BioMerieux designs, develops, manufactures, and markets systems in the field of in vitro diagnostics for medical and industrial applications. The Company is specialized in the diagnosis of infectious diseases and pathologies. BioMerieux is also active in the analysis of food, pharmaceuticals and environmental samples to determine their microbiological quality.

Sartorius Stedim Biotech develops and manufactures laboratory technologies and equipment for the pharma and food industries, as well as for public research institutes and laboratories.

Medtronic, PLC develops therapeutic and diagnostic medical products. The Company's principal products include those for bradycardia pacing, tachyarrhythmia management, atrial fibrillation management, heart failure management, heart valve replacement, malignant and non-malignant pain, and movement disorders. Medtronic's products are sold worldwide.

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Medtronic Plc (MDT US)

Medtronic plc: Expansion Of Global Operations & Supply Chain Transformation! - Major Drivers

In its fiscal year 2024 Q4 earnings, Medtronic reported significant revenue growth and strong earnings, demonstrating the effectiveness of its...

Baptista Research

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 plc: Data Driven Innovations & 5 Major Drivers Of Its Future Growth! - Financial Forecasts

Medtronic delivered a solid quarter with its mid-single-digit revenue growth exceeding expectations. The fiscal '24 third quarter earnings were...

Baptista Research

Medtronic PLC: Can The New FDA Approval Help Them Revolutionize Hypertension Treatment? - Major Drivers

Medtronic plc delivered an all-around beat in the previous quarter, delivering mid-single-digit revenue growth across diverse business segments...

Baptista Research

Eoflow: Financing Requirements, Changing Shareholding Structure, and the Next Steps

Eoflow's shares surged by 30% to 15,080 won today. Eoflow announced today that the U.S. District Court in Massachusetts had revoked the injunction...

Douglas Kim

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Medtronic plc: Expansion Of Global Operations & Supply Chain Transformation! - Major Drivers

In its fiscal year 2024 Q4 earnings, Medtronic reported significant revenue growth and strong earnings, demonstrating the effectiveness of its...

Baptista Research

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 plc: Data Driven Innovations & 5 Major Drivers Of Its Future Growth! - Financial Forecasts

Medtronic delivered a solid quarter with its mid-single-digit revenue growth exceeding expectations. The fiscal '24 third quarter earnings were...

Baptista Research

Medtronic PLC: Can The New FDA Approval Help Them Revolutionize Hypertension Treatment? - Major Drivers

Medtronic plc delivered an all-around beat in the previous quarter, delivering mid-single-digit revenue growth across diverse business segments...

Baptista Research

Eoflow: Financing Requirements, Changing Shareholding Structure, and the Next Steps

Eoflow's shares surged by 30% to 15,080 won today. Eoflow announced today that the U.S. District Court in Massachusetts had revoked the injunction...

Douglas Kim

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