Global Healthcare Analyst

Tina Banerjee

Equity Capital Markets

Medcaptain Medical Technology / Equity Capital Markets

<ul>
<li>Medcaptain Medical launched Hongkong IPO to raise nearly HK$ 600M. They are a global medical device provider supplying life support products, minimally invasive intervention products, and in vitro diagnostics products.</li>
<li>Medcaptain intends to use the proceeds for research and development, expand production capacity, enhance their sales &amp; marketing capabilities, for strategic investments, upgrade IT infrastructure and for general corporate purpose.</li>
<li>The valuation that they are seeking, seems relatively steep, but fundamentally worth for long term investors. The company needs to scale up the operations further, but that will take time.</li>
</ul>


Medcaptain Medical launched Hongkong IPO to raise nearly HK$ 600M. They are a global medical device provider supplying life support products, minimally invasive intervention products, and in vitro diagnostics products.
Medcaptain intends to use the proceeds for research and development, expand production capacity, enhance their sales &amp; marketing capabilities, for strategic investments, upgrade IT infrastructure and for general corporate purpose.
The valuation that they are seeking, seems relatively steep, but fundamentally worth for long term investors. The company needs to scale up the operations further, but that will take time.


Medcaptain Medical IPO: Not Minimally Invasive For Investors For Now, But Can Be Life-Long Support

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

VanEck Gold Miners ETF/USA / Technical Analysis

<ul>
<li>The SPX made a high of 4169 last week, tagging our 4165-4200 resistance range. We still believe 4165-4200 will cap upside in 2023, with a reach to 4300-4325 also possible.</li>
<li>Considering limited upside in both scenarios, and with the seasonably weaker "sell in May and go away" period approaching, we continue to recommend higher allocations to defensives</li>
<li>This includes Utilities (XLU, RYU), Consumer Staples (XLP), Health Care (XLV, PPH), and gold miners (GDX).</li>
</ul>


The SPX made a high of 4169 last week, tagging our 4165-4200 resistance range. We still believe 4165-4200 will cap upside in 2023, with a reach to 4300-4325 also possible.
Considering limited upside in both scenarios, and with the seasonably weaker "sell in May and go away" period approaching, we continue to recommend higher allocations to defensives
This includes Utilities (XLU, RYU), Consumer Staples (XLP), Health Care (XLV, PPH), and gold miners (GDX).


"Sell in May" Another Reason to Be Defensive; Value to Lead?; Buys in Medical Devices, Footwear

<ul>
<li>On 3/21/23 we discussed the potential for a 2-5% rally to the 1.5-month downtrend on the SPX, or the 4165-4200 range, which would set up an opportunity to get defensive.</li>
<li>The S&amp;P 500 has gained 4.5% since, but has reversed topside the downtrend, putting a test of 4165-4200 in play.</li>
<li>We still believe 4165-4200 will cap upside in 2023 -- with a reach to 4300-4325 also possible -- but considering limited upside, we recommend shifting toward defensives.</li>
</ul>


On 3/21/23 we discussed the potential for a 2-5% rally to the 1.5-month downtrend on the SPX, or the 4165-4200 range, which would set up an opportunity to get defensive.
The S&amp;P 500 has gained 4.5% since, but has reversed topside the downtrend, putting a test of 4165-4200 in play.
We still believe 4165-4200 will cap upside in 2023 -- with a reach to 4300-4325 also possible -- but considering limited upside, we recommend shifting toward defensives.


$SPX 4165-4200 in Play; WTI Crude Testing $82 Resistance; Buys in Gold Miners, Waste Services

Equity Long-Short Analyst

Pyari Menon

Thematic (Sector/Industry)

<ul>
<li>We compare how a portfolio composed of our top five picks in each of our thematic reports based on datamining technical publications would have performed versus Indices</li>
<li>The size of outperformance for various periods suggests that incorporating innovation quality index that we use to rank companies can be a solid tool to generate alpha.   </li>
<li>We understand that much of the outperformance is generated by positive skew but even backing out the largest two contributors we see solid outperformance.</li>
</ul>


We compare how a portfolio composed of our top five picks in each of our thematic reports based on datamining technical publications would have performed versus Indices
The size of outperformance for various periods suggests that incorporating innovation quality index that we use to rank companies can be a solid tool to generate alpha.   
We understand that much of the outperformance is generated by positive skew but even backing out the largest two contributors we see solid outperformance.


A Look at How a Portfolio Composed of Our Top Five Innovators in Each Report Would Have Performed

<ul>
<li>Recently a note on <a href="https://www.smartkarma.com/entities/shockwave-medical-inc" target="_blank" data-smartkarma-citation="entities:28730:1" rel="noopener">Shockwave Medical Inc (SWAV US)</a> was published on SK. Being a potential game changer, we analyzed technical publications to see how well the company is positioned</li>
<li>Currently, Shockwave Medical is likely the only player in the intravascular lithotripsy market. As the intravascular device deals with calcified lesions, its primary competition is from the atherectomy market </li>
<li>Despite being a recent company with a new technology it ranks third in innovating in the area of - removing/modifying obstructions, calculi and pre-procedure preparation for intravascular intervention.</li>
</ul>


Recently a note on Shockwave Medical Inc (SWAV US) was published on SK. Being a potential game changer, we analyzed technical publications to see how well the company is positioned
Currently, Shockwave Medical is likely the only player in the intravascular lithotripsy market. As the intravascular device deals with calcified lesions, its primary competition is from the atherectomy market 
Despite being a recent company with a new technology it ranks third in innovating in the area of - removing/modifying obstructions, calculi and pre-procedure preparation for intravascular intervention.


Datamining Tech Publications to Assess Shockwave's Paradigm Shift Solution In Vascular Interventions

United States

Boston Scientific Corporation develops, manufactures, and markets minimally invasive medical devices. The Company's products are used in interventional cardiology, cardiac rhythm management, peripheral interventions, electrophysiology, neurovascular intervention, endoscopy, urology, gynecology and neuromodulation.

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Boston Scientific (BSX US)

Medcaptain Medical IPO: Not Minimally Invasive For Investors For Now, But Can Be Life-Long Support

Medcaptain Medical launched Hongkong IPO to raise nearly HK$ 600M for R&D, production capacity, enhance sales & marketing capabilities, strategic...

Tina Banerjee

"Sell in May" Another Reason to Be Defensive; Value to Lead?; Buys in Medical Devices, Footwear

"Sell in May" Another Reason to Be Defensive; Value Poised to Outperform?; Watching Semiconductors $SOXX $XSD and Banks $KRE $KBE for breakage....

Vermilion Research

$SPX 4165-4200 in Play; WTI Crude Testing $82 Resistance; Buys in Gold Miners, Waste Services

The $SPX reversed topside the 2-month downtrend, putting a test of 4165-4200 in play. We still believe 4165-4200 will cap upside in 2023;...

Vermilion Research

A Look at How a Portfolio Composed of Our Top Five Innovators in Each Report Would Have Performed

Our datamining reports ranks companies within thematic based on innovation quality. We see strong outperformance in a portfolio built using the top...

Pyari Menon

Datamining Tech Publications to Assess Shockwave's Paradigm Shift Solution In Vascular Interventions

Shockwave’s intravascular lithotripsy product could become a game changer in dealing with coronary calcium and may offer a more effective solution...

Pyari Menon

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