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>HCA Healthcare’s financial results for the second quarter of 2026 demonstrate a 11% growth in diluted earnings per share both quarterly and year-to-date, despite notable headwinds primarily stemming from unfavorable shifts in payer mix.</li><li>The expiration of enhanced premium tax credits led to a significant decline—approximately 15%—in admissions covered through health insurance exchanges, with a majority of those patients becoming uninsured rather than transitioning to alternative coverage.</li><li>This shift created an estimated $400 million adverse impact on adjusted EBITDA in the quarter, with certain divisions disproportionately affected.</li></ul>

HCA Healthcare’s financial results for the second quarter of 2026 demonstrate a 11% growth in diluted earnings per share both quarterly and year-to-date, despite notable headwinds primarily stemming from unfavorable shifts in payer mix.The expiration of enhanced premium tax credits led to a significant decline—approximately 15%—in admissions covered through health insurance exchanges, with a majority of those patients becoming uninsured rather than transitioning to alternative coverage.This shift created an estimated $400 million adverse impact on adjusted EBITDA in the quarter, with certain divisions disproportionately affected.

HCA Healthcare’s $400 Million Payer-Mix Hit Meets A $400 Million Medicaid Offset!

Global Healthcare Analyst

Tina Banerjee

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<li>
<a href="https://www.smartkarma.com/entities/asahi-intecc-co-ltd" target="_blank" data-smartkarma-citation="entities:15915:1" rel="noopener">Asahi Intecc (7747 JP)</a> is poised for multi-year growth through strong market demand for its technically superior guidewires, market leadership positioning, new product launches, and direct marketing initiatives.</li>
<li>In FY24, Asahi Intecc aims to achieve revenue of ¥100B (+11% YoY), a significant milestone. The company targets revenue of ¥110B and an operating profit margin of 23–25% in FY26.</li>
<li>Asahi Intecc is expected to be a continued beneficiary of global procedure volume recovery. The company is likely to achieve its medium-term business plan ahead of schedule.</li>
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Asahi Intecc (7747 JP) is poised for multi-year growth through strong market demand for its technically superior guidewires, market leadership positioning, new product launches, and direct marketing initiatives.
In FY24, Asahi Intecc aims to achieve revenue of ¥100B (+11% YoY), a significant milestone. The company targets revenue of ¥110B and an operating profit margin of 23–25% in FY26.
Asahi Intecc is expected to be a continued beneficiary of global procedure volume recovery. The company is likely to achieve its medium-term business plan ahead of schedule.


2024 High Conviction: Asahi Intecc (7747 JP)- Procedure Volume Recovery to Accelerate Growth

<ul><li>HCA Healthcare has moved to deepen its healthcare education strategy through an agreement to acquire The College of Health Care Professions, one of Texas’ largest allied healthcare training providers, serving more than 8,000 students annually across 10 campuses and online.</li><li>The development comes shortly after HCA’s Q1 2026 results, where management reaffirmed full-year guidance despite a softer respiratory season, winter storm disruptions, exchange-related payer mix pressure, and rising uninsured volumes.</li><li>The company also highlighted continued investment in network development, outpatient acquisitions, digital transformation, AI initiatives, and workforce productivity programs.</li></ul>

HCA Healthcare has moved to deepen its healthcare education strategy through an agreement to acquire The College of Health Care Professions, one of Texas’ largest allied healthcare training providers, serving more than 8,000 students annually across 10 campuses and online.The development comes shortly after HCA’s Q1 2026 results, where management reaffirmed full-year guidance despite a softer respiratory season, winter storm disruptions, exchange-related payer mix pressure, and rising uninsured volumes.The company also highlighted continued investment in network development, outpatient acquisitions, digital transformation, AI initiatives, and workforce productivity programs.

HCA Healthcare's Latest Acquisition Signals A Bigger Push Into Healthcare Education!

<ul><li>HCA Healthcare’s first quarter of 2026 performance reflected a dynamic operational environment marked by both transitory challenges and ongoing strategic initiatives.</li><li>The company reported a 4.3% increase in revenue compared to the first quarter of the prior year, with adjusted EBITDA growing nearly 2%, and adjusted diluted earnings per share rising approximately 11%.</li><li>Despite these improvements, volume trends were affected by an atypically mild respiratory season and severe winter storms that tempered expected seasonal volume gains.</li></ul>

HCA Healthcare’s first quarter of 2026 performance reflected a dynamic operational environment marked by both transitory challenges and ongoing strategic initiatives.The company reported a 4.3% increase in revenue compared to the first quarter of the prior year, with adjusted EBITDA growing nearly 2%, and adjusted diluted earnings per share rising approximately 11%.Despite these improvements, volume trends were affected by an atypically mild respiratory season and severe winter storms that tempered expected seasonal volume gains.

HCA Healthcare: Will Upcoming Payer Negotiations Unlock Stronger Reimbursement Power Or Spark Fresh Pressure?

<ul><li>HCA Healthcare's latest financial results highlight several key areas of performance that investors may want to consider.</li><li>On the positive side, HCA Healthcare demonstrated solid revenue growth and effective expense management.</li><li>The company achieved a 6.7% increase in revenue compared to the previous year, driven by sustained demand and strategic investments across its network.</li></ul>

HCA Healthcare's latest financial results highlight several key areas of performance that investors may want to consider.On the positive side, HCA Healthcare demonstrated solid revenue growth and effective expense management.The company achieved a 6.7% increase in revenue compared to the previous year, driven by sustained demand and strategic investments across its network.

HCA Healthcare: How Outpatient Expansion Is Reshaping Its Growth Profile!

United States

HCA Healthcare, Inc.  operates hospitals.  The Company operates acute care hospitals, outpatient facilities, clinics and other patient care delivery settings.  HCA operates hospitals in the United States and the United Kingdom.

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HCA Healthcare, Inc. (HCA US)

HCA Healthcare’s $400 Million Payer-Mix Hit Meets A $400 Million Medicaid Offset!

HCA Healthcare’s financial results for the second quarter of 2026 demonstrate a 11% growth in diluted earnings per share both quarterly and...

Baptista Research

2024 High Conviction: Asahi Intecc (7747 JP)- Procedure Volume Recovery to Accelerate Growth

Asahi Intecc is poised for double-digit sales growth through FY26, driven by strong market demand for guidewires, market leadership positioning,...

Tina Banerjee

HCA Healthcare's Latest Acquisition Signals A Bigger Push Into Healthcare Education!

HCA Healthcare has moved to deepen its healthcare education strategy through an agreement to acquire The College of Health Care Professions, one...

Baptista Research

HCA Healthcare: Will Upcoming Payer Negotiations Unlock Stronger Reimbursement Power Or Spark Fresh Pressure?

HCA Healthcare’s first quarter of 2026 performance reflected a dynamic operational environment marked by both transitory challenges and ongoing...

Baptista Research

HCA Healthcare: How Outpatient Expansion Is Reshaping Its Growth Profile!

HCA Healthcare's latest financial results highlight several key areas of performance that investors may want to consider. On the positive side,...

Baptista Research

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