Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.</li><li>Last week, BVNRY ramped up its mpox vaccine supply, as the first case in Asia popped up and a possible US case of this year’s global health emergency.</li><li>LLY added diabetes benefit data to its obesity drug armamentarium, matching competitor NVO and pressuring diabetes medtechs DXCM, TNDM, and PODD. </li></ul>

We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.Last week, BVNRY ramped up its mpox vaccine supply, as the first case in Asia popped up and a possible US case of this year’s global health emergency.LLY added diabetes benefit data to its obesity drug armamentarium, matching competitor NVO and pressuring diabetes medtechs DXCM, TNDM, and PODD. 

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>DexCom, Inc. recently reported its second quarter earnings for 2024, presenting a mix of achievements and challenges that provide a nuanced view of the company’s current state and future outlook.</li><li>DexCom, known for its continuous glucose monitoring (CGM) systems, has demonstrated continuous growth in the diabetes management market, yet faced several short-term hurdles that have impacted its performance this quarter.</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>

DexCom, Inc. recently reported its second quarter earnings for 2024, presenting a mix of achievements and challenges that provide a nuanced view of the company’s current state and future outlook.DexCom, known for its continuous glucose monitoring (CGM) systems, has demonstrated continuous growth in the diabetes management market, yet faced several short-term hurdles that have impacted its performance this quarter.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.

DexCom Inc.: A Tale Of Product Innovation and Pipeline Development! - Major Drivers

<ul><li>Dexcom, Inc., particularly known for its continuous glucose monitoring (CGM) technology, consistently showcased strong performance in the first quarter of 2024 with an organic revenue growth of 25% compared to the first quarter of 2023.</li><li>This noteworthy surge is credited to the substantial demand for Dexcom CGM, seen as customers increasingly value its leading product performance and unique user experience.</li><li>The shift towards Dexcom’s CGM technology has been significant, especially since the launch of G7 in the U.S., which enabled Dexcom to attract a broad range of new prescribers and improve its impact within primary care, resulting in growing demand from people with diabetes.</li></ul>

Dexcom, Inc., particularly known for its continuous glucose monitoring (CGM) technology, consistently showcased strong performance in the first quarter of 2024 with an organic revenue growth of 25% compared to the first quarter of 2023.This noteworthy surge is credited to the substantial demand for Dexcom CGM, seen as customers increasingly value its leading product performance and unique user experience.The shift towards Dexcom’s CGM technology has been significant, especially since the launch of G7 in the U.S., which enabled Dexcom to attract a broad range of new prescribers and improve its impact within primary care, resulting in growing demand from people with diabetes.

DexCom Inc.: Why Are We Bullish On This Med-Tech Player Despite The Highly Evident Challenges Ahead? - Major Drivers

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>In 1Q24, <a href="https://www.smartkarma.com/entities/intuitive-surgical-inc" target="_blank" data-smartkarma-citation="entities:15853:1" rel="noopener">Intuitive Surgical (ISRG US)</a> reported 11% YoY revenue growth to $1.89B, driven by growth in da Vinci procedure volume and an increase in the installed base of systems.</li>
<li>Worldwide da Vinci procedures grew 16%, matching the higher end of prior guidance range. The company placed 313 da Vinci surgical systems, including eight newly approved da Vinci 5.</li>
<li>Even after considering blip in bariatric surgery, delayed tender in China, and no benefit of patient backlog, the company has raised 2024 worldwide da Vinci procedure growth guidance to 14–17%.</li>
</ul>


In 1Q24, Intuitive Surgical (ISRG US) reported 11% YoY revenue growth to $1.89B, driven by growth in da Vinci procedure volume and an increase in the installed base of systems.
Worldwide da Vinci procedures grew 16%, matching the higher end of prior guidance range. The company placed 313 da Vinci surgical systems, including eight newly approved da Vinci 5.
Even after considering blip in bariatric surgery, delayed tender in China, and no benefit of patient backlog, the company has raised 2024 worldwide da Vinci procedure growth guidance to 14–17%.


Intuitive Surgical (ISRG US): Beat-And-Raise 1Q24; Rising Demand for Robotic Surgery Propels Growth

<ul><li>DexCom Inc., a medical device company focused on the design, development and delivery, presented its recorded Fourth quarter and Fiscal year 2023 earnings call.</li><li>According to the call, the organization's robust growth momentum has pivoted it towards notable accomplishments.</li><li>The company reported that total revenue grew by 24% on an organic basis, implying a boon of over $700 million of organic revenue compared to the preceding year.</li></ul>

DexCom Inc., a medical device company focused on the design, development and delivery, presented its recorded Fourth quarter and Fiscal year 2023 earnings call.According to the call, the organization's robust growth momentum has pivoted it towards notable accomplishments.The company reported that total revenue grew by 24% on an organic basis, implying a boon of over $700 million of organic revenue compared to the preceding year.

DexCom Inc: Solid Market Penetration in Basal and Hypo Non-insulin markets & International Expansion Is Catalyzing Future Growth! - Major Drivers

United States

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.

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Dexcom Inc (DXCM US)

Biopharma Week in Review - Aug 26, 2024

Last week, BVNRY ramped up its mpox vaccine supply, as the first case in Asia popped up and a possible US case of this year’s global health emergency.

Water Tower Research

DexCom Inc.: A Tale Of Product Innovation and Pipeline Development! - Major Drivers

DexCom, Inc. recently reported its second quarter earnings for 2024, presenting a mix of achievements and challenges that provide a nuanced view...

Baptista Research

DexCom Inc.: Why Are We Bullish On This Med-Tech Player Despite The Highly Evident Challenges Ahead? - Major Drivers

Dexcom, Inc., particularly known for its continuous glucose monitoring (CGM) technology, consistently showcased strong performance in the first...

Baptista Research

Intuitive Surgical (ISRG US): Beat-And-Raise 1Q24; Rising Demand for Robotic Surgery Propels Growth

Intuitive reports 11% revenue growth in 1Q24, driven by da Vinci procedure volume growth of 16% and increased system installations. The company...

Tina Banerjee

DexCom Inc: Solid Market Penetration in Basal and Hypo Non-insulin markets & International Expansion Is Catalyzing Future Growth! - Major Drivers

DexCom Inc., a medical device company focused on the design, development and delivery, presented its recorded Fourth quarter and Fiscal year 2023...

Baptista Research

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Biopharma Week in Review - Aug 26, 2024

Last week, BVNRY ramped up its mpox vaccine supply, as the first case in Asia popped up and a possible US case of this year’s global health emergency.

Water Tower Research

DexCom Inc.: A Tale Of Product Innovation and Pipeline Development! - Major Drivers

DexCom, Inc. recently reported its second quarter earnings for 2024, presenting a mix of achievements and challenges that provide a nuanced view...

Baptista Research

DexCom Inc.: Why Are We Bullish On This Med-Tech Player Despite The Highly Evident Challenges Ahead? - Major Drivers

Dexcom, Inc., particularly known for its continuous glucose monitoring (CGM) technology, consistently showcased strong performance in the first...

Baptista Research

Intuitive Surgical (ISRG US): Beat-And-Raise 1Q24; Rising Demand for Robotic Surgery Propels Growth

​Intuitive reports 11% revenue growth in 1Q24, driven by da Vinci procedure volume growth of 16% and increased system installations. The company...

Tina Banerjee

DexCom Inc: Solid Market Penetration in Basal and Hypo Non-insulin markets & International Expansion Is Catalyzing Future Growth! - Major Drivers

DexCom Inc., a medical device company focused on the design, development and delivery, presented its recorded Fourth quarter and Fiscal year 2023...

Baptista Research

Intuitive reports 11% revenue growth in 1Q24, driven by da Vinci procedure volume growth of 16% and increased system installations. The company...