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>Humana, Inc. reported performance in line with expectations for the first half of 2026, maintaining positive momentum across key operational and financial metrics.</li><li>The company continues to focus its strategic initiatives around four primary business drivers: enhancing product and customer experience, advancing clinical excellence, improving operational efficiency, and optimizing capital allocation, particularly through growth in Medicaid and its CenterWell platform.</li><li>Membership growth in 2026 remains on track, supporting Humana’s growth ambitions.</li></ul>

Humana, Inc. reported performance in line with expectations for the first half of 2026, maintaining positive momentum across key operational and financial metrics.The company continues to focus its strategic initiatives around four primary business drivers: enhancing product and customer experience, advancing clinical excellence, improving operational efficiency, and optimizing capital allocation, particularly through growth in Medicaid and its CenterWell platform.Membership growth in 2026 remains on track, supporting Humana’s growth ambitions.

Humana’s 600,000-Member Reset — Can It Restore 3% Medicare Advantage Margins?

<ul><li>Humana Incorporated reported first-quarter results that aligned with its internal expectations, reflecting a stable start to 2026 amid ongoing strategic initiatives.</li><li>Management emphasized adherence to their previously disclosed commitment of returning to a sustainable Medicare Advantage (MA) margin of at least 3% by 2028, with measurable progress expected in 2027.</li><li>The company continues to manage growth dynamics carefully, maintaining a focus on membership retention and benefit adjustments to address the persistent gap between medical cost trends and program funding.</li></ul>

Humana Incorporated reported first-quarter results that aligned with its internal expectations, reflecting a stable start to 2026 amid ongoing strategic initiatives.Management emphasized adherence to their previously disclosed commitment of returning to a sustainable Medicare Advantage (MA) margin of at least 3% by 2028, with measurable progress expected in 2027.The company continues to manage growth dynamics carefully, maintaining a focus on membership retention and benefit adjustments to address the persistent gap between medical cost trends and program funding.

Humana’s CenterWell Expansion Could Reshape Its Long-Term Care Delivery Model!

Global Healthcare Analyst

Tina Banerjee

<ul>
<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>
</ul>



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

Professional Special Situation Investor, TripleS Special Situation Investing

Triple S Special Situations Investing

Professional Special Situation Investor

TripleS Special Situation Investing

Professional Special Situation Investor with over 20 years of experience.

Thematic (Sector/Industry)

<ul><li>Uncy is a drug company targeting renal patients.</li><li>The company got its second Complete Response Letter on June 30 and fell 40% to $5.</li><li>The FDA raised no efficacy or safety concerns, asked for no new data, and rejected the thing over the same third-party manufacturing deficiencies as the June 2025 CRL.</li></ul>

Uncy is a drug company targeting renal patients.The company got its second Complete Response Letter on June 30 and fell 40% to $5.The FDA raised no efficacy or safety concerns, asked for no new data, and rejected the thing over the same third-party manufacturing deficiencies as the June 2025 CRL.

Junior Finance Analyst, Steno Research

Ulrik Simmelholt

Junior Finance Analyst

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

Cross Asset Strategy

<ul><li>We’ve received loads of feedback from our clients regarding our Trump versus Biden basket.</li><li>As a result, we will provide a detailed breakdown of both baskets and explain the rationale behind each.</li><li>We are updating the baskets regularly based on the political proposals of the two candidates.</li></ul>

We’ve received loads of feedback from our clients regarding our Trump versus Biden basket.As a result, we will provide a detailed breakdown of both baskets and explain the rationale behind each.We are updating the baskets regularly based on the political proposals of the two candidates.

Equity Watch: The Trump versus Biden Basket

United States

Humana Inc. is a managed health care company with medical members located in the United States and Puerto Rico.  The Company offers coordinated health care through health maintenance organizations, preferred provider organizations, point-of-service plans, and administrative services products.  Humana offers its products to employer groups, government-sponsored plans, and individuals.

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Humana Inc (HUM US)

Humana’s 600,000-Member Reset — Can It Restore 3% Medicare Advantage Margins?

Humana, Inc. reported performance in line with expectations for the first half of 2026, maintaining positive momentum across key operational and...

Baptista Research

Humana’s CenterWell Expansion Could Reshape Its Long-Term Care Delivery Model!

Humana Incorporated reported first-quarter results that aligned with its internal expectations, reflecting a stable start to 2026 amid ongoing...

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

Stock Trade Compilation Episode Nueve

The FDA raised no efficacy or safety concerns, asked for no new data, and rejected the thing over the same third-party manufacturing deficiencies...

Triple S Special Situations Investing

Equity Watch: The Trump versus Biden Basket

We’ve received loads of feedback from our clients regarding our Trump versus Biden basket. As a result, we will provide a detailed breakdown of...

Steno Research

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