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

Laboratory Corporation of America Holdings / Equity Bottom-Up

Laboratory Corporation of America Holdings

<ul><li>Labcorp Holdings delivered a solid performance in the third quarter of 2025, marked by both commendable revenue growth and margin improvement.</li><li>The company's total revenue increased by 9% year over year, reaching $3.6 billion, with a notable adjusted earnings per share (EPS) growth of 19%.</li><li>The Diagnostics segment, which is significant within the company's structure, contributed to the robust performance with an 8.5% increase in revenue driven by organic growth and acquisitions.</li></ul>

Labcorp Holdings delivered a solid performance in the third quarter of 2025, marked by both commendable revenue growth and margin improvement.The company's total revenue increased by 9% year over year, reaching $3.6 billion, with a notable adjusted earnings per share (EPS) growth of 19%.The Diagnostics segment, which is significant within the company's structure, contributed to the robust performance with an 8.5% increase in revenue driven by organic growth and acquisitions.

LH US - Labcorp’s $100 Million PAMA Challenge: Can AI Save The Day?

<ul><li>Laboratory Corporation of America Holdings (Labcorp) reported strong financial results for the second quarter of 2025.</li><li>The company delivered double-digit top-line growth, with total revenue reaching $3.5 billion, representing a 10% increase compared to the previous year.</li><li>This growth was driven by both its Diagnostic Laboratories and Biopharma Laboratory Services (BLS) segments.</li></ul>

Laboratory Corporation of America Holdings (Labcorp) reported strong financial results for the second quarter of 2025.The company delivered double-digit top-line growth, with total revenue reaching $3.5 billion, representing a 10% increase compared to the previous year.This growth was driven by both its Diagnostic Laboratories and Biopharma Laboratory Services (BLS) segments.

LH US - Labcorp: Is The Innovative Testing & Specialty Growth Here To Stay?

<ul><li>Labcorp Holdings reported its financial performance for the first quarter of 2025, reflecting a mixed set of outcomes amidst macroeconomic and regulatory dynamics.</li><li>The company achieved solid revenue growth of 5.3%, reaching $3.3 billion, driven primarily by organic growth and strategic acquisitions.</li><li>However, foreign currency translation exerted a slight negative pull on these figures.</li></ul>

Labcorp Holdings reported its financial performance for the first quarter of 2025, reflecting a mixed set of outcomes amidst macroeconomic and regulatory dynamics.The company achieved solid revenue growth of 5.3%, reaching $3.3 billion, driven primarily by organic growth and strategic acquisitions.However, foreign currency translation exerted a slight negative pull on these figures.

Labcorp Rides Regulatory Wins & Fights PAMA—Here’s How It’s Protecting Its Profits!

<ul><li>Laboratory Corporation of America Holdings (LabCorp) presented a mixed but generally positive financial report in their latest call, providing signals for investors to weigh both an optimistic outlook and some ongoing challenges.</li><li>LabCorp's performance in 2024 was highlighted by a 10% increase in revenue compared to the previous year, totaling $3.3 billion for the fourth quarter alone.</li><li>Their Diagnostics and Biopharma Laboratory Services segments each demonstrated a commendable 10% growth.</li></ul>

Laboratory Corporation of America Holdings (LabCorp) presented a mixed but generally positive financial report in their latest call, providing signals for investors to weigh both an optimistic outlook and some ongoing challenges.LabCorp's performance in 2024 was highlighted by a 10% increase in revenue compared to the previous year, totaling $3.3 billion for the fourth quarter alone.Their Diagnostics and Biopharma Laboratory Services segments each demonstrated a commendable 10% growth.

LH US - Labcorp Holdings: Is Its Stronghold in Diagnostics Under Threat?

Global Healthcare Analyst

Tina Banerjee

Thematic (Sector/Industry)

<ul>
<li>3SBio will spin-off and separately list the shares of Mandi, a subsidiary of the company. Celltrion got EC approval for Remsima IV liquid, world’s first liquid formulation of IV infliximab.</li>
<li>Hanmi Pharmaceutical is acquiring all of the issued and outstanding common shares of Aptose Biosciences that are not currently owned or controlled by Hanmi.</li>
<li>Otsuka got CHMP positive opinion for donidalorsen for the prevention of recurrent attacks of HAE. CSL plans to expand U.S. presence over the next five years, with ~$1.5B U.S. capex.</li>
</ul>


3SBio will spin-off and separately list the shares of Mandi, a subsidiary of the company. Celltrion got EC approval for Remsima IV liquid, world’s first liquid formulation of IV infliximab.
Hanmi Pharmaceutical is acquiring all of the issued and outstanding common shares of Aptose Biosciences that are not currently owned or controlled by Hanmi.
Otsuka got CHMP positive opinion for donidalorsen for the prevention of recurrent attacks of HAE. CSL plans to expand U.S. presence over the next five years, with ~$1.5B U.S. capex.


APAC Healthcare Weekly (November 23) – 3SBio, Celltrion, Hanmi Pharm, HK Inno.N, Otsuka, CSL

United States

Laboratory Corporation of America Holdings is a clinical laboratory company. The Company develops specialty testing operations, such as oncology testing, HIV genotyping, and phenotyping, diagnostic genetics, and clinical trials. Laboratory serves customers in the United States.

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Laboratory of America Hol (LH UN)

LH US - Labcorp’s $100 Million PAMA Challenge: Can AI Save The Day?

Labcorp Holdings delivered a solid performance in the third quarter of 2025, marked by both commendable revenue growth and margin improvement. The...

Baptista Research

LH US - Labcorp: Is The Innovative Testing & Specialty Growth Here To Stay?

Laboratory Corporation of America Holdings (Labcorp) reported strong financial results for the second quarter of 2025. The company delivered...

Baptista Research

Labcorp Rides Regulatory Wins & Fights PAMA—Here’s How It’s Protecting Its Profits!

Labcorp Holdings reported its financial performance for the first quarter of 2025, reflecting a mixed set of outcomes amidst macroeconomic and...

Baptista Research

LH US - Labcorp Holdings: Is Its Stronghold in Diagnostics Under Threat?

Laboratory Corporation of America Holdings (LabCorp) presented a mixed but generally positive financial report in their latest call, providing...

Baptista Research

APAC Healthcare Weekly (November 23) – 3SBio, Celltrion, Hanmi Pharm, HK Inno.N, Otsuka, CSL

3SBio will spin-off and separately list its subsidiary. Celltrion got EC approval for Remsima IV liquid. Hanmi Pharm is acquiring Aptose...

Tina Banerjee

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