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>Maximus reported strong results for its fiscal year 2025 third quarter.</li><li>The company's performance was marked by a significant increase in adjusted diluted earnings per share, which rose 24% year-over-year to $2.16, and a 15% growth in adjusted EBITDA.</li><li>Revenue for the quarter amounted to $1.35 billion, reflecting a 4.3% organic growth compared to the same period last year.</li></ul>

Maximus reported strong results for its fiscal year 2025 third quarter.The company's performance was marked by a significant increase in adjusted diluted earnings per share, which rose 24% year-over-year to $2.16, and a 15% growth in adjusted EBITDA.Revenue for the quarter amounted to $1.35 billion, reflecting a 4.3% organic growth compared to the same period last year.

Maximus: Will Innovation in Veteran Services Deliver Game-Changing Results?

<ul><li>Maximus, as reported in their recent second quarter fiscal 2025 earnings, exhibited a mixed performance, reflecting both strengths and challenges in their operational environment.</li><li>The company reported solid revenue growth, driven primarily by its U.S. Federal Services segment, which saw a 10.9% increase in revenue due to robust performance in clinical assessments and increased demand for certain services.</li><li>This growth, however, was slightly offset by a decline in their U.S. Services segment, attributable to the completion of prior year excess volumes linked to Medicaid unwinding.</li></ul>

Maximus, as reported in their recent second quarter fiscal 2025 earnings, exhibited a mixed performance, reflecting both strengths and challenges in their operational environment.The company reported solid revenue growth, driven primarily by its U.S. Federal Services segment, which saw a 10.9% increase in revenue due to robust performance in clinical assessments and increased demand for certain services.This growth, however, was slightly offset by a decline in their U.S. Services segment, attributable to the completion of prior year excess volumes linked to Medicaid unwinding.

Maximus Inc: Emphasis on Operational & Financial Discipline To Stabilize Margins!

<ul><li>The recent earnings results for Maximus Inc. portray a complex but promising landscape for the company, revealing both opportunities and challenges.</li><li>Financially, Maximus reported revenue of $1.40 billion for the first quarter of fiscal 2025, reflecting a 5.7% year-over-year growth, with an organic growth rate of 6.3%.</li><li>The U.S. Federal Services segment was a primary growth driver with a 15.3% increase in revenues, suggesting strong performance in areas like clinical assessments and customer service programs.</li></ul>

The recent earnings results for Maximus Inc. portray a complex but promising landscape for the company, revealing both opportunities and challenges.Financially, Maximus reported revenue of $1.40 billion for the first quarter of fiscal 2025, reflecting a 5.7% year-over-year growth, with an organic growth rate of 6.3%.The U.S. Federal Services segment was a primary growth driver with a 15.3% increase in revenues, suggesting strong performance in areas like clinical assessments and customer service programs.

Maximus Doubles Down on AI With A Bold New Accelerator — Is This The Buy Signal Investors Have Been Waiting For?

<ul><li>Maximus recently reported its fiscal year 2024 earnings, illustrating a robust financial performance underpinned by strategic advancements and significant contracts, albeit amid some challenges and uncertainties.</li><li>For the year, Maximus achieved 8.2% growth in consolidated revenue, amounting to $5.31 billion, with organic growth at 8.8%.</li><li>This was driven by increased volumes in core programs and Medicaid-related activities, reflecting the resumption to pre-pandemic levels and additional volumes managed throughout the year.</li></ul>

Maximus recently reported its fiscal year 2024 earnings, illustrating a robust financial performance underpinned by strategic advancements and significant contracts, albeit amid some challenges and uncertainties.For the year, Maximus achieved 8.2% growth in consolidated revenue, amounting to $5.31 billion, with organic growth at 8.8%.This was driven by increased volumes in core programs and Medicaid-related activities, reflecting the resumption to pre-pandemic levels and additional volumes managed throughout the year.

Maximus Inc.: Strategic Portfolio Realignment for Global Expansion Driving Our 'Buy' Rating! - Major Drivers

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

Nasdaq-100 Stock Index / Technical Analysis

<ul>
<li>$SPX remains below 5783, the upper-end of important target/resistance area we've discussed for a month+ (5670-5783). 5670 was prior all-time high set in July, while 5783 is 2% above 5670.</li>
<li>It's hard to call it a "decisive" breakout if SPX isn't even 2% above its prior high.  In 2007, SPX made a top after climbing 1-2% above its prior high.</li>
<li>The 2007 topping analog has tracked the current market almost perfectly, with similar backdrops to today including new Fed cutting cycle, recession indicators going off, yield curve un-inverting, defensives outperforming</li>
</ul>


$SPX remains below 5783, the upper-end of important target/resistance area we've discussed for a month+ (5670-5783). 5670 was prior all-time high set in July, while 5783 is 2% above 5670.
It's hard to call it a "decisive" breakout if SPX isn't even 2% above its prior high.  In 2007, SPX made a top after climbing 1-2% above its prior high.
The 2007 topping analog has tracked the current market almost perfectly, with similar backdrops to today including new Fed cutting cycle, recession indicators going off, yield curve un-inverting, defensives outperforming


Still No Decisive Breakout as SPX Tests 5783 Resistance; Ideal Time to Shift to Defensives

United States

MAXIMUS, Inc. provides program management and consulting services to state and local governments throughout the United States.  The Company's services are designed to make government operations more efficient and cost effective while improving the quality of the services provided to program beneficiaries.

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Maximus Inc (MMS US)

Maximus: Will Innovation in Veteran Services Deliver Game-Changing Results?

Maximus reported strong results for its fiscal year 2025 third quarter. The company's performance was marked by a significant increase in adjusted...

Baptista Research

Maximus Inc: Emphasis on Operational & Financial Discipline To Stabilize Margins!

Maximus, as reported in their recent second quarter fiscal 2025 earnings, exhibited a mixed performance, reflecting both strengths and challenges...

Baptista Research

Maximus Doubles Down on AI With A Bold New Accelerator — Is This The Buy Signal Investors Have Been Waiting For?

The recent earnings results for Maximus Inc. portray a complex but promising landscape for the company, revealing both opportunities and...

Baptista Research

Maximus Inc.: Strategic Portfolio Realignment for Global Expansion Driving Our 'Buy' Rating! - Major Drivers

Maximus recently reported its fiscal year 2024 earnings, illustrating a robust financial performance underpinned by strategic advancements and...

Baptista Research

Still No Decisive Breakout as SPX Tests 5783 Resistance; Ideal Time to Shift to Defensives

Still No Decisive Breakout as $SPX Tests 5783 Resistance; On watch for SPX bull trap/failed breakout, confirmed only on a break below 5670. 2007...

Vermilion Research

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