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>Illumina reported a solid financial performance for the third quarter of 2025, riding on the strength of its NovaSeq X transition and robust demand in the clinical markets.</li><li>The company posted a total revenue of $1.08 billion, which was slightly above expectations.</li><li>Importantly, revenue outside China saw a 2% year-over-year increase, signaling a return to growth despite ongoing macroeconomic challenges and regulatory roadblocks, particularly in Greater China.</li></ul>

Illumina reported a solid financial performance for the third quarter of 2025, riding on the strength of its NovaSeq X transition and robust demand in the clinical markets.The company posted a total revenue of $1.08 billion, which was slightly above expectations.Importantly, revenue outside China saw a 2% year-over-year increase, signaling a return to growth despite ongoing macroeconomic challenges and regulatory roadblocks, particularly in Greater China.

Illumina: Will Its Latest China Partnerships Unlock Its Next Billion-Dollar Market?

<ul><li>Illumina Inc. delivered its second-quarter 2025 financial results, reporting revenue of $1.06 billion, which, despite a year-over-year decline, aligned with the high end of its guidance.</li><li>Positively, the company significantly exceeded expectations with a non-GAAP operating margin of 23.8% and EPS of $1.19.</li><li>These figures underline solid execution and underscore the robustness of its core business, particularly in clinical markets.</li></ul>

Illumina Inc. delivered its second-quarter 2025 financial results, reporting revenue of $1.06 billion, which, despite a year-over-year decline, aligned with the high end of its guidance.Positively, the company significantly exceeded expectations with a non-GAAP operating margin of 23.8% and EPS of $1.19.These figures underline solid execution and underscore the robustness of its core business, particularly in clinical markets.

Illumina Bets on Multiomics & Proteomics – Is This the Future of Genomic Research?

<ul><li>Illumina's first-quarter 2025 earnings present a mixed financial picture.</li><li>The company showed resilience by achieving revenue and EPS at the upper end of guidance, highlighting strong execution despite macroeconomic challenges, especially in the context of foreign exchange impacts and geopolitical uncertainties that have complicated the operating environment.</li><li>Positive indicators include robust performance in the NovaSeq X instruments, exceeding expectations with significant quarterly placements.</li></ul>

Illumina's first-quarter 2025 earnings present a mixed financial picture.The company showed resilience by achieving revenue and EPS at the upper end of guidance, highlighting strong execution despite macroeconomic challenges, especially in the context of foreign exchange impacts and geopolitical uncertainties that have complicated the operating environment.Positive indicators include robust performance in the NovaSeq X instruments, exceeding expectations with significant quarterly placements.

Illumina Inc.: Tackling Global Headwinds With Strategic Market Diversification!

US-EU Index Rebalances / Quantitative Researcher, ORTEX

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Index Rebalance

<ul>
<li>Index Committee's discretion decreases the predictability of index changes. Even when a company passes all eligibility criteria and thresholds, it might still not be selected.</li>
<li>Understanding triggers for index changes, types of additions/deletions and selection patterns, narrows down the pool of candidates and increases conviction of forecasts.</li>
<li>
<a href="https://www.smartkarma.com/entities/dell-technologies-inc" target="_blank" data-smartkarma-citation="entities:32189:1" rel="noopener">Dell Technologies (DELL US)</a> is currently the main candidate to be added by transition to the S&amp;P 500 in September 2024 Quarterly Rebalance.</li>
</ul>


Index Committee's discretion decreases the predictability of index changes. Even when a company passes all eligibility criteria and thresholds, it might still not be selected.
Understanding triggers for index changes, types of additions/deletions and selection patterns, narrows down the pool of candidates and increases conviction of forecasts.

Dell Technologies (DELL US) is currently the main candidate to be added by transition to the S&amp;P 500 in September 2024 Quarterly Rebalance.


S&P 500 / S&P 1500: Deriving Forecasts & First Prediction for September

<ul><li>Illumina, a global leader in gene-sequencing machines, is facing a wave of turbulence that has significantly dented investor confidence.</li><li>The company has recently announced that activist investor Keith Meister, who heads Corvex Management and owns a 2.5% stake in the company, will be joining its board of directors.</li><li>At the same time, former FDA commissioner Scott Gottlieb will replace Stephen MacMillan as chairman, marking a substantial leadership reshuffle aimed at steering the company out of its current malaise.</li></ul>

Illumina, a global leader in gene-sequencing machines, is facing a wave of turbulence that has significantly dented investor confidence.The company has recently announced that activist investor Keith Meister, who heads Corvex Management and owns a 2.5% stake in the company, will be joining its board of directors.At the same time, former FDA commissioner Scott Gottlieb will replace Stephen MacMillan as chairman, marking a substantial leadership reshuffle aimed at steering the company out of its current malaise.

Illumina’s Tumultuous Chapter: New Activist Investor & Board Shake-Up Amid Mounting Pressures!

United States

Illumina, Inc. develops, manufactures and markets integrated systems for the large scale analysis of genetic variation and biological function. The Company provides a comprehensive line of products and services that currently serve the sequencing, genotyping and gene expression markets for genomic research centers, pharmaceutical companies, academic institutions and biotechnology companies.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Illumina Inc (ILMN US)

Illumina: Will Its Latest China Partnerships Unlock Its Next Billion-Dollar Market?

Illumina reported a solid financial performance for the third quarter of 2025, riding on the strength of its NovaSeq X transition and robust...

Baptista Research

Illumina Bets on Multiomics & Proteomics – Is This the Future of Genomic Research?

Illumina Inc. delivered its second-quarter 2025 financial results, reporting revenue of $1.06 billion, which, despite a year-over-year decline,...

Baptista Research

Illumina Inc.: Tackling Global Headwinds With Strategic Market Diversification!

Illumina's first-quarter 2025 earnings present a mixed financial picture. The company showed resilience by achieving revenue and EPS at the upper...

Baptista Research

S&P 500 / S&P 1500: Deriving Forecasts & First Prediction for September

S&P Index Committee's discretion reduces predictability of index changes. Identifying patterns and types of changes, narrows down the addition...

Dimitris Ioannidis

Illumina’s Tumultuous Chapter: New Activist Investor & Board Shake-Up Amid Mounting Pressures!

Illumina, a global leader in gene-sequencing machines, is facing a wave of turbulence that has significantly dented investor confidence. The...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Illumina: Will Its Latest China Partnerships Unlock Its Next Billion-Dollar Market?

Illumina reported a solid financial performance for the third quarter of 2025, riding on the strength of its NovaSeq X transition and robust...

Baptista Research

Illumina Bets on Multiomics & Proteomics – Is This the Future of Genomic Research?

Illumina Inc. delivered its second-quarter 2025 financial results, reporting revenue of $1.06 billion, which, despite a year-over-year decline,...

Baptista Research

Illumina Inc.: Tackling Global Headwinds With Strategic Market Diversification!

Illumina's first-quarter 2025 earnings present a mixed financial picture. The company showed resilience by achieving revenue and EPS at the upper...

Baptista Research

S&P 500 / S&P 1500: Deriving Forecasts & First Prediction for September

S&P ​Index Committee's discretion reduces predictability of index changes. Identifying patterns and types of changes, narrows down the addition...

Dimitris Ioannidis

Illumina’s Tumultuous Chapter: New Activist Investor & Board Shake-Up Amid Mounting Pressures!

Illumina, a global leader in gene-sequencing machines, is facing a wave of turbulence that has significantly dented investor confidence. The...

Baptista Research

S&P Index Committee's discretion reduces predictability of index changes. Identifying patterns and types of changes, narrows down the addition...