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>Elevance Health reported fourth quarter adjusted diluted earnings per share (EPS) of $3.33 and full-year EPS of $30.29, surpassing guidance partly due to favorable nonrecurring tax-related items totaling $3.75 per share for 2025.</li><li>The company ended 2025 with 45.2 million members, down approximately 500,000 year-over-year, predominantly from Medicaid membership declines linked to eligibility reverifications.</li><li>Operating revenue rose 10% year-over-year to $49.3 billion for the quarter, driven by premium rate increases and acquisitions.</li></ul>

Elevance Health reported fourth quarter adjusted diluted earnings per share (EPS) of $3.33 and full-year EPS of $30.29, surpassing guidance partly due to favorable nonrecurring tax-related items totaling $3.75 per share for 2025.The company ended 2025 with 45.2 million members, down approximately 500,000 year-over-year, predominantly from Medicaid membership declines linked to eligibility reverifications.Operating revenue rose 10% year-over-year to $49.3 billion for the quarter, driven by premium rate increases and acquisitions.

Elevance Health: How Carelon Is Quietly Powering Growth And Managing Risk!

<ul><li>Elevance Health's third quarter of 2025 results present a multifaceted picture with both strengths and challenges.</li><li>The company reported GAAP diluted earnings per share of $5.32 and an adjusted earnings per share of $6.03.</li><li>This performance aligns with prior expectations, benefiting from enhanced medical cost management and disciplined expense control.</li></ul>

Elevance Health's third quarter of 2025 results present a multifaceted picture with both strengths and challenges.The company reported GAAP diluted earnings per share of $5.32 and an adjusted earnings per share of $6.03.This performance aligns with prior expectations, benefiting from enhanced medical cost management and disciplined expense control.

Elevance Health: Carelon’s Specialty Pharmacy Surge—Why Kroger Integration & BioPlus Could Be a Game-Changer!

<ul><li>Elevance Health's second-quarter earnings reveal a complex landscape marked by both opportunities and challenges.</li><li>The company reported GAAP diluted earnings per share of $7.72 and adjusted diluted earnings per share of $8.84.</li><li>Despite delivering adjusted EPS consistent with expectations, Elevance revised its full-year 2025 adjusted EPS guidance to approximately $30, reflecting industry-wide pressures, including elevated medical costs in the ACA market and slower-than-expected Medicaid rate alignments.</li></ul>

Elevance Health's second-quarter earnings reveal a complex landscape marked by both opportunities and challenges.The company reported GAAP diluted earnings per share of $7.72 and adjusted diluted earnings per share of $8.84.Despite delivering adjusted EPS consistent with expectations, Elevance revised its full-year 2025 adjusted EPS guidance to approximately $30, reflecting industry-wide pressures, including elevated medical costs in the ACA market and slower-than-expected Medicaid rate alignments.

Elevance Health: An Insight Into Medicaid and ACA Market Developments & Key Growth Levers!

<ul><li>Elevance Health, formerly known as Anthem, outlined its first quarter results for 2025, reflecting consistent progress in strategic initiatives and financial performance.</li><li>Elevance Health emphasized its mission of advancing human health, underpinning its operations and strategic direction.</li><li>The company highlighted important strategic moves, particularly in patient advocacy solutions and enhancements to the HealthOS platform, which have been key in simplifying healthcare experiences and streamlining provider workflows.</li></ul>

Elevance Health, formerly known as Anthem, outlined its first quarter results for 2025, reflecting consistent progress in strategic initiatives and financial performance.Elevance Health emphasized its mission of advancing human health, underpinning its operations and strategic direction.The company highlighted important strategic moves, particularly in patient advocacy solutions and enhancements to the HealthOS platform, which have been key in simplifying healthcare experiences and streamlining provider workflows.

Elevance Health: Affordable Care Act (ACA) Market Dynamics To Be A Robust Segment Within Its Diverse Portfolio!

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

<p>Today's key points:</p><ul>
<li>Property &amp; Casualty Insurance names are staging price and RS reversal and/or breakouts.</li>
<li>Airlines are staging price and SR reversals to the upside and/or are breaking out.</li>
<li>Railroad related names are breaking out.</li>
<li>We have been bearish on the Semiconductor and Suppliers industry since February; however we are seeing some near term reversals at support levels.</li>
</ul><p>Highlighted charts: SUP, CMG, LOCO, MCS, EXPE, AMZN, WBA, K, NR, NOV, SLCA, BHGE, OIS, HLX, JPM, WFC, KEY, AXP, AFL, TMK, HSIC, ZBH, OMCL, ANTM, LLY, PFE, AGN, B, WM, ESND, ECHO, and SKYW.</p>

Today's key points:
Property &amp; Casualty Insurance names are staging price and RS reversal and/or breakouts.
Airlines are staging price and SR reversals to the upside and/or are breaking out.
Railroad related names are breaking out.
We have been bearish on the Semiconductor and Suppliers industry since February; however we are seeing some near term reversals at support levels.
Highlighted charts: SUP, CMG, LOCO, MCS, EXPE, AMZN, WBA, K, NR, NOV, SLCA, BHGE, OIS, HLX, JPM, WFC, KEY, AXP, AFL, TMK, HSIC, ZBH, OMCL, ANTM, LLY, PFE, AGN, B, WM, ESND, ECHO, and SKYW.

U.S. Vital Signs - Actionable Charts of the Day

United States

Elevance Health, Inc. operates as a health benefits company. The Company provides health, dental and vision, and pharmacy benefits, as well as life insurance, and life and disability insurance benefits. Elevance Health offers a broad spectrum of network-based managed care plans to large and small employer, individual, medicaid, and medicare markets.

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Elevance Health (ELV US)

Elevance Health: How Carelon Is Quietly Powering Growth And Managing Risk!

Elevance Health reported fourth quarter adjusted diluted earnings per share (EPS) of $3.33 and full-year EPS of $30.29, surpassing guidance partly...

Baptista Research

Elevance Health: Carelon’s Specialty Pharmacy Surge—Why Kroger Integration & BioPlus Could Be a Game-Changer!

Elevance Health's third quarter of 2025 results present a multifaceted picture with both strengths and challenges. The company reported GAAP...

Baptista Research

Elevance Health: An Insight Into Medicaid and ACA Market Developments & Key Growth Levers!

Elevance Health's second-quarter earnings reveal a complex landscape marked by both opportunities and challenges. The company reported GAAP...

Baptista Research

Elevance Health: Affordable Care Act (ACA) Market Dynamics To Be A Robust Segment Within Its Diverse Portfolio!

Elevance Health, formerly known as Anthem, outlined its first quarter results for 2025, reflecting consistent progress in strategic initiatives...

Baptista Research

U.S. Vital Signs - Actionable Charts of the Day

Today's key points: Property & Casualty Insurance names are staging price and RS reversal and/or breakouts. Airlines are staging price and SR...

Vermilion Research

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