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>Abbott Laboratories has made headlines once again, this time for a bold push into cancer diagnostics through its proposed $21 billion acquisition of Exact Sciences.</li><li>The deal, which values Exact at $105 per share in cash and represents a 51% premium over its last closing price, is poised to be the largest healthcare M&A deal in two years and the biggest ever in the diagnostics space.</li><li>Slated to close in Q2 2026, the transaction marks Abbott’s strategic expansion beyond glucose monitoring and cardiovascular devices into oncology testing—a market the company had eyed for years.</li></ul>

Abbott Laboratories has made headlines once again, this time for a bold push into cancer diagnostics through its proposed $21 billion acquisition of Exact Sciences.The deal, which values Exact at $105 per share in cash and represents a 51% premium over its last closing price, is poised to be the largest healthcare M&A deal in two years and the biggest ever in the diagnostics space.Slated to close in Q2 2026, the transaction marks Abbott’s strategic expansion beyond glucose monitoring and cardiovascular devices into oncology testing—a market the company had eyed for years.

Abbott Labs' Exact Sciences Acquisition: What Could Go Right In This $21 Billion Cancer Play?

<ul><li>Abbott Laboratories' second quarter earnings report for 2025 highlighted a mixed performance across its diverse business segments.</li><li>The company demonstrated solid sales growth of 7.5% year-over-year excluding COVID testing sales, with an adjusted earnings per share (EPS) of $1.26, an 11% increase from the previous year, surpassing consensus expectations.</li><li>In its Nutrition segment, Abbott saw a 3.5% increase in sales driven largely by a robust demand for its Ensure and Glucerna brands.</li></ul>

Abbott Laboratories' second quarter earnings report for 2025 highlighted a mixed performance across its diverse business segments.The company demonstrated solid sales growth of 7.5% year-over-year excluding COVID testing sales, with an adjusted earnings per share (EPS) of $1.26, an 11% increase from the previous year, surpassing consensus expectations.In its Nutrition segment, Abbott saw a 3.5% increase in sales driven largely by a robust demand for its Ensure and Glucerna brands.

Abbott Laboratories: Is The Growth in Continuous Glucose Monitoring (CGM) & Ketone Monitoring Here To Stay?

External broker reports(aggregated public sources), Topline Securities

Topline Securities

External broker reports(aggregated public sources)

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>Pakistan listed Consumer sector is currently trading at 2025 PE of 13.2x which is at a discount to its historical average of 22.32x.</li><li>Segment wise, consumer staple (FMCG) is trading at 2025 PE of 16.1x vs. 10-year average of 26.95x, pharmaceutical is trading at 2025 PE of 18.0x vs. 10-year average PE of 20.74x and consumer discretionary is trading at PE of 8.2x vs. 10-year average PE of 19.27x.</li><li>Sector witnessed 5-year and 10-years sales/profit CAGR of 18%/25% and 13%/14% respectively.</li></ul>

Pakistan listed Consumer sector is currently trading at 2025 PE of 13.2x which is at a discount to its historical average of 22.32x.Segment wise, consumer staple (FMCG) is trading at 2025 PE of 16.1x vs. 10-year average of 26.95x, pharmaceutical is trading at 2025 PE of 18.0x vs. 10-year average PE of 20.74x and consumer discretionary is trading at PE of 8.2x vs. 10-year average PE of 19.27x.Sector witnessed 5-year and 10-years sales/profit CAGR of 18%/25% and 13%/14% respectively.

<ul><li>Abbott Laboratories recently shared its first quarter 2025 earnings results, revealing a strong performance amidst a challenging global environment influenced by new tariff policies and ongoing economic uncertainties.</li><li>Abbott's diversified model and strategic framework contribute to the company's operational resilience, as evidenced by its ability to meet growth objectives and deliver high single-digit sales growth alongside double-digit earnings per share (EPS) growth.</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>

Abbott Laboratories recently shared its first quarter 2025 earnings results, revealing a strong performance amidst a challenging global environment influenced by new tariff policies and ongoing economic uncertainties.Abbott's diversified model and strategic framework contribute to the company's operational resilience, as evidenced by its ability to meet growth objectives and deliver high single-digit sales growth alongside double-digit earnings per share (EPS) growth.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.

Abbott Laboratories Expansion Play: Can Global Growth & Local Manufacturing Drive the Next Surge?

<ul><li>Abbott Laboratories delivered a solid financial performance in the fourth quarter of 2024, reflecting a continuation of robust growth trends observed throughout the year.</li><li>Excluding COVID-19 testing, the company reported a strong sales growth of 10%, contributing to a full-year increase of 9.5%.</li><li>This surge was driven by significant progress across several business segments, particularly Adult Nutrition and Medical Devices, including continuous glucose monitoring systems.</li></ul>

Abbott Laboratories delivered a solid financial performance in the fourth quarter of 2024, reflecting a continuation of robust growth trends observed throughout the year.Excluding COVID-19 testing, the company reported a strong sales growth of 10%, contributing to a full-year increase of 9.5%.This surge was driven by significant progress across several business segments, particularly Adult Nutrition and Medical Devices, including continuous glucose monitoring systems.

Abbott Laboratories: An Insight Into Its Medtech & Diagnostic Growth Trajectory & Why It May Not Be Enough To Warrant A ‘Buy’ Rating!

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 Labs' Exact Sciences Acquisition: What Could Go Right In This $21 Billion Cancer Play?

Abbott Laboratories has made headlines once again, this time for a bold push into cancer diagnostics through its proposed $21 billion acquisition...

Baptista Research

Abbott Laboratories: Is The Growth in Continuous Glucose Monitoring (CGM) & Ketone Monitoring Here To Stay?

Abbott Laboratories' second quarter earnings report for 2025 highlighted a mixed performance across its diverse business segments. The company...

Baptista Research

Pakistan Listed Consumer Comp Sheet

Pakistan listed Consumer sector is currently trading at 2025 PE of 13.2x which is at a discount to its historical average of 22.32x. Segment wise,...

Topline Securities

Abbott Laboratories Expansion Play: Can Global Growth & Local Manufacturing Drive the Next Surge?

Abbott Laboratories recently shared its first quarter 2025 earnings results, revealing a strong performance amidst a challenging global...

Baptista Research

Abbott Laboratories: An Insight Into Its Medtech & Diagnostic Growth Trajectory & Why It May Not Be Enough To Warrant A ‘Buy’ Rating!

Abbott Laboratories delivered a solid financial performance in the fourth quarter of 2024, reflecting a continuation of robust growth trends...

Baptista Research

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