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>Cardinal Health, Inc. concluded fiscal year 2026 with marked financial improvements driven primarily by its Pharmaceutical and Specialty Solutions segment, which benefited from resilient demand and specialty business strength.</li><li>The company reported a 6% increase in total revenue for the fourth quarter to $63.7 billion and a 14% rise for the full year to $254 billion, with operating earnings growing 30% year-over-year and earnings per share increasing by 40% in the quarter.</li><li>Adjusted free cash flow reached $5 billion, reflecting strong operational execution and favorable demand across its portfolio.</li></ul>

Cardinal Health, Inc. concluded fiscal year 2026 with marked financial improvements driven primarily by its Pharmaceutical and Specialty Solutions segment, which benefited from resilient demand and specialty business strength.The company reported a 6% increase in total revenue for the fourth quarter to $63.7 billion and a 14% rise for the full year to $254 billion, with operating earnings growing 30% year-over-year and earnings per share increasing by 40% in the quarter.Adjusted free cash flow reached $5 billion, reflecting strong operational execution and favorable demand across its portfolio.

Cardinal Health’s $1.35 Billion Buyback — A Bold Signal Behind Its Capital Strategy!

<ul><li>Cardinal Health, Inc. reported third-quarter fiscal 2026 results marked by broad-based growth across segments, reflecting the firm’s diversified healthcare services and distribution portfolio.</li><li>Total company revenue increased by 11% to $61 billion, underpinned chiefly by strong performance in the Pharmaceutical and Specialty Solutions segment and other growth businesses.</li><li>Gross profit rose 18% to $2.5 billion, spurred by acquisitions and segment execution.</li></ul>

Cardinal Health, Inc. reported third-quarter fiscal 2026 results marked by broad-based growth across segments, reflecting the firm’s diversified healthcare services and distribution portfolio.Total company revenue increased by 11% to $61 billion, underpinned chiefly by strong performance in the Pharmaceutical and Specialty Solutions segment and other growth businesses.Gross profit rose 18% to $2.5 billion, spurred by acquisitions and segment execution.

Cardinal Health: The Explosive Specialty Growth Story Wall Street May Be Underestimating!

<ul><li>Cardinal Health Inc. demonstrated robust financial performance in its second quarter of the fiscal year 2026, marked by significant growth in both revenue and profitability across its diverse business segments.</li><li>Total revenue reached $66 billion, reflecting a 19% increase, predominantly driven by the Pharmaceutical and Specialty Solutions segment that saw remarkable demand.</li><li>The segment's revenue rose to $61 billion, benefiting from contributions across brand, specialty, and generics, alongside robust execution within the pharmaceutical distribution network.</li></ul>

Cardinal Health Inc. demonstrated robust financial performance in its second quarter of the fiscal year 2026, marked by significant growth in both revenue and profitability across its diverse business segments.Total revenue reached $66 billion, reflecting a 19% increase, predominantly driven by the Pharmaceutical and Specialty Solutions segment that saw remarkable demand.The segment's revenue rose to $61 billion, benefiting from contributions across brand, specialty, and generics, alongside robust execution within the pharmaceutical distribution network.

Cardinal Health: What’s Driving the Explosive Expansion of Its MSO and Sonexus Platforms?

<ul><li>Cardinal Health, Inc. (CAH) has shown a robust start to its fiscal year 2026, reflected in a solid financial performance for its first quarter.</li><li>The company reported a 22% revenue increase to $64 billion, primarily fueled by strong demand in its Pharmaceutical and Specialty Solutions segment.</li><li>This segment has seen a 23% revenue boost driven by brand and specialty pharmaceutical sales, as well as a 26% increase in segment profit.</li></ul>

Cardinal Health, Inc. (CAH) has shown a robust start to its fiscal year 2026, reflected in a solid financial performance for its first quarter.The company reported a 22% revenue increase to $64 billion, primarily fueled by strong demand in its Pharmaceutical and Specialty Solutions segment.This segment has seen a 23% revenue boost driven by brand and specialty pharmaceutical sales, as well as a 26% increase in segment profit.

Cardinal Health Is Investing Big in Nuclear & Theranostics — The Future of Precision Health!

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

<ul>
<li>We are shifting our near-term outlook to neutral on the S&amp;P 500 (SPX), after being bullish for all but one week since 4/22/25 (we went neutral 11/19/25-11/25/25).</li>
<li>Choppy consolidation has continued between support at 6780-6824 and resistance at 7000, and a neutral near-term outlook is appropriate until there is a decisive break in either direction.</li>
<li>We intended to wait for SPX to break below 6780 to downgrade our near-term outlook, continued deterioration in market dynamics suggests a breakout above 7000 is unlikely</li>
</ul>


We are shifting our near-term outlook to neutral on the S&amp;P 500 (SPX), after being bullish for all but one week since 4/22/25 (we went neutral 11/19/25-11/25/25).
Choppy consolidation has continued between support at 6780-6824 and resistance at 7000, and a neutral near-term outlook is appropriate until there is a decisive break in either direction.
We intended to wait for SPX to break below 6780 to downgrade our near-term outlook, continued deterioration in market dynamics suggests a breakout above 7000 is unlikely


Shifting to Neutral Near-Term as Chop Continues; Market Dynamics Deteriorating: HY Spreads, DXY, Etc

United States

Cardinal Health, Inc. provides complementary products and services to healthcare providers and manufacturers.  The Company's services include pharmaceutical distribution, health-care product manufacturing, distribution and consulting services, drug delivery systems development, pharmaceutical packaging, automated dispensing systems manufacturing, and retail pharmacy franchising.

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Cardinal Health (CAH US)

Cardinal Health’s $1.35 Billion Buyback — A Bold Signal Behind Its Capital Strategy!

Cardinal Health, Inc. concluded fiscal year 2026 with marked financial improvements driven primarily by its Pharmaceutical and Specialty Solutions...

Baptista Research

Cardinal Health: The Explosive Specialty Growth Story Wall Street May Be Underestimating!

Cardinal Health, Inc. reported third-quarter fiscal 2026 results marked by broad-based growth across segments, reflecting the firm’s diversified...

Baptista Research

Cardinal Health: What’s Driving the Explosive Expansion of Its MSO and Sonexus Platforms?

Cardinal Health Inc. demonstrated robust financial performance in its second quarter of the fiscal year 2026, marked by significant growth in both...

Baptista Research

Cardinal Health Is Investing Big in Nuclear & Theranostics — The Future of Precision Health!

Cardinal Health, Inc. (CAH) has shown a robust start to its fiscal year 2026, reflected in a solid financial performance for its first...

Baptista Research

Shifting to Neutral Near-Term as Chop Continues; Market Dynamics Deteriorating: HY Spreads, DXY, Etc

Shifting to Neutral Near-Term as Chop Continues; Market Dynamics Deteriorating: HY Spreads, MOVE index, DXY, Commodities All Rising $DJP $USO $UGA....

Vermilion Research

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