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 had a strong quarter and managed an all-around beat with strong organic revenue growth of 19% compared to last year.</li><li>The company's momentum in global CGM adoption remains high, driven by the growing recognition of the unique experience DexCom provides.</li><li>The launch of their G7 system has been met with enthusiasm, supported by a successful Super Bowl commercial that generated significant engagement and awareness.</li></ul>

DexCom had a strong quarter and managed an all-around beat with strong organic revenue growth of 19% compared to last year.The company's momentum in global CGM adoption remains high, driven by the growing recognition of the unique experience DexCom provides.The launch of their G7 system has been met with enthusiasm, supported by a successful Super Bowl commercial that generated significant engagement and awareness.

DexCom Inc.: Launch of G6 Glucose Monitoring System & Other Drivers

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Thematic (Sector/Industry)

<ul><li>Earnings Season Thus Far- Meanwhile Mixed Economic Messages Earnings season picks up this week with the technology heavyweights like Alphabet, Microsoft, Amazon, and Meta are all set to report their results.</li><li>During the upcoming week, 180 S&amp;P 500 companies (including 14 Dow 30 components) are scheduled to report results for the first quarter.</li><li>Overall, 18% of the companies in the S&amp;P 500 have reported actual results for Q1 2023 to date.</li></ul>

Earnings Season Thus Far- Meanwhile Mixed Economic Messages Earnings season picks up this week with the technology heavyweights like Alphabet, Microsoft, Amazon, and Meta are all set to report their results.During the upcoming week, 180 S&amp;P 500 companies (including 14 Dow 30 components) are scheduled to report results for the first quarter.Overall, 18% of the companies in the S&amp;P 500 have reported actual results for Q1 2023 to date.

<ul><li>DexCom's performance in the quarter was strong, with total revenue increasing by 20%.</li><li>By the end of 2022, the company had over 1.7 million clients worldwide after adding nearly 450,000 new Dexcom users.</li><li>The management delivered an all-around beat and claims to have increased consumer engagement and growth while expanding the scope and effectiveness of its business.</li></ul>

DexCom's performance in the quarter was strong, with total revenue increasing by 20%.By the end of 2022, the company had over 1.7 million clients worldwide after adding nearly 450,000 new Dexcom users.The management delivered an all-around beat and claims to have increased consumer engagement and growth while expanding the scope and effectiveness of its business.

<ul><li>This is our first report on medical device major, DexCom.</li><li>Although DexCom anticipates that these primary care connections will be crucial to its long-term consumer goals, they also enable the company to serve the nation's extensive insulin users.</li><li>In addition, DexCom carried out its previously disclosed accelerated share repurchase program, buying roughly 550 million outstanding shares.</li></ul>

This is our first report on medical device major, DexCom.Although DexCom anticipates that these primary care connections will be crucial to its long-term consumer goals, they also enable the company to serve the nation's extensive insulin users.In addition, DexCom carried out its previously disclosed accelerated share repurchase program, buying roughly 550 million outstanding shares.

DexCom Inc.: Initiation of Coverage – Business Strategy & Key Drivers

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>Despite the macroeconomic headwinds, Q3 results from the large medtech companies showed some encouraging signs including healthy procedure volume growth depicting recovery in the medtech sector globally.</li>
<li>Amidst fear of recession, most of these companies reported healthy system placement and no order cancellation. Diabetes, with a large underpenetrated addressable population, remains one of the most resilient segments.</li>
<li>Financial performances of APAC medtech companies are expected to be driven by healthy global procedure volume growth and Fx, partially offset by macroeconomic headwinds including inflation and supply constraints.</li>
</ul>


Despite the macroeconomic headwinds, Q3 results from the large medtech companies showed some encouraging signs including healthy procedure volume growth depicting recovery in the medtech sector globally.
Amidst fear of recession, most of these companies reported healthy system placement and no order cancellation. Diabetes, with a large underpenetrated addressable population, remains one of the most resilient segments.
Financial performances of APAC medtech companies are expected to be driven by healthy global procedure volume growth and Fx, partially offset by macroeconomic headwinds including inflation and supply constraints.


Global Medtech Trends: Readouts from Early Birds of Q3 Earnings Season- Positives and Negatives

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)

DexCom Inc.: Launch of G6 Glucose Monitoring System & Other Drivers

DexCom had a strong quarter and managed an all-around beat with strong organic revenue growth of 19% compared to last year. The company's momentum...

Baptista Research

Weekly Stock Bullfinder - Week of 4/24

During the upcoming week, 180 S&P 500 companies (including 14 Dow 30 components) are scheduled to report results for the first quarter.

Weekly Stock Bull Finder

DexCom Inc.: G7 Upside & Other Drivers

DexCom's performance in the quarter was strong, with total revenue increasing by 20%. By the end of 2022, the company had over 1.7 million clients...

Baptista Research

DexCom Inc.: Initiation of Coverage – Business Strategy & Key Drivers

This is our first report on medical device major, DexCom. Although DexCom anticipates that these primary care connections will be crucial to its...

Baptista Research

Global Medtech Trends: Readouts from Early Birds of Q3 Earnings Season- Positives and Negatives

Q3 results of large U.S. medtech companies recorded procedure volume growth. However, macroeconomic headwinds are expected to prevail. Similar...

Tina Banerjee

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