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>Medtronic delivered a solid quarter with its mid-single-digit revenue growth exceeding expectations.</li><li>The fiscal '24 third quarter earnings were underpinned by strength across multiple businesses like Core Spine, Cardiac Surgery, Structural Heart and Cardiac Pacing, along with robust growth witnessed across various international markets.</li><li>Innovation-driven core technologies such as robotics, AI and closed-loop systems acted as significant growth propellers, with five AI products already FDA approved.</li></ul>

Medtronic delivered a solid quarter with its mid-single-digit revenue growth exceeding expectations.The fiscal '24 third quarter earnings were underpinned by strength across multiple businesses like Core Spine, Cardiac Surgery, Structural Heart and Cardiac Pacing, along with robust growth witnessed across various international markets.Innovation-driven core technologies such as robotics, AI and closed-loop systems acted as significant growth propellers, with five AI products already FDA approved.

Medtronic plc: Data Driven Innovations & 5 Major Drivers Of Its Future Growth! - Financial Forecasts

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>
<a href="https://www.smartkarma.com/entities/medtronic-plc" target="_blank" data-smartkarma-citation="entities:14982:1" rel="noopener">Medtronic Plc (MDT US)</a> reported Q2FY24 revenue of $8B, representing 5% organic growth, topping guidance of 4.0–4.5%. Cardiovascular, neuroscience, and medical surgical grew mid-single-digit with diabetes accelerating to high-single-digit.</li>
<li>The company now expects FY24 organic revenue growth of 4.75% versus the prior 4.5%. Medtronic raised FY24 adjusted EPS guidance to $5.13–5.19 from $5.08–5.16 earlier.</li>
<li>In November, the company has received FDA approval for innovative renal denervation device for the treatment of hypertension, which should open a multi-billion-dollar market opportunity.</li>
</ul>



Medtronic Plc (MDT US) reported Q2FY24 revenue of $8B, representing 5% organic growth, topping guidance of 4.0–4.5%. Cardiovascular, neuroscience, and medical surgical grew mid-single-digit with diabetes accelerating to high-single-digit.
The company now expects FY24 organic revenue growth of 4.75% versus the prior 4.5%. Medtronic raised FY24 adjusted EPS guidance to $5.13–5.19 from $5.08–5.16 earlier.
In November, the company has received FDA approval for innovative renal denervation device for the treatment of hypertension, which should open a multi-billion-dollar market opportunity.


Medtronic (MDT US): Beat-And-Raise Q2; Weight Loss Drugs Not to Impact Growth; New Device Approval

<ul><li>Medtronic plc delivered an all-around beat in the previous quarter, delivering mid-single-digit revenue growth across diverse business segments and global regions.</li><li>Cardiovascular, Neuroscience, and Medical Surgical sectors all contributed to this growth, with Diabetes witnessing an acceleration to high single-digit growth.</li><li>Synergistic businesses, encompassing Aortic, Coronary, Cardiac Surgery, and Endoscopy, achieved mid-single-digit growth, with standout performances in various segments.</li></ul>

Medtronic plc delivered an all-around beat in the previous quarter, delivering mid-single-digit revenue growth across diverse business segments and global regions.Cardiovascular, Neuroscience, and Medical Surgical sectors all contributed to this growth, with Diabetes witnessing an acceleration to high single-digit growth.Synergistic businesses, encompassing Aortic, Coronary, Cardiac Surgery, and Endoscopy, achieved mid-single-digit growth, with standout performances in various segments.

Medtronic PLC: Can The New FDA Approval Help Them Revolutionize Hypertension Treatment? - Major Drivers

<ul><li>This is our first report on medtech giant, Medtronic plc.</li><li>In the Cranial & Spinal Technologies division, Medtronic achieved impressive global growth, with an even more impressive 8% growth in the US.</li><li>In the Surgical Innovations segment, a 7% growth was realized, facilitated by supply improvements and strong performance in Advanced Surgical Technologies.</li></ul>

This is our first report on medtech giant, Medtronic plc.In the Cranial & Spinal Technologies division, Medtronic achieved impressive global growth, with an even more impressive 8% growth in the US.In the Surgical Innovations segment, a 7% growth was realized, facilitated by supply improvements and strong performance in Advanced Surgical Technologies.

Medtronic plc: Initiation of Coverage - Business Strategy

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>When <a href="https://www.smartkarma.com/entities/eoflow-co-ltd" target="_blank" data-smartkarma-citation="entities:36100:1" rel="noopener">EOFlow (294090 KS)</a> was suspended on the 11th October, and ceased global sales, either the <a href="https://www.smartkarma.com/entities/medtronic-plc" target="_blank" data-smartkarma-citation="entities:14982:1" rel="noopener">Medtronic (MDT US)</a> deal was (largely) toast; or it was a tactical move. </li>
<li>I'm firmly in the latter camp. <a href="https://www.smartkarma.com/entities/insulet-corp" target="_blank" data-smartkarma-citation="entities:5252:1" rel="noopener">Insulet</a>'s lawsuit was expected. And completing the transaction enables the more financially and legally resource-rich MDT to become the party to the litigation.</li>
<li>The SPA between Jesse Kim and MDT was expected to complete on 25 October. That was not a hard date. It has now been pushed out to 3 January 2024. </li>
</ul>


When EOFlow (294090 KS) was suspended on the 11th October, and ceased global sales, either the Medtronic (MDT US) deal was (largely) toast; or it was a tactical move. 
I'm firmly in the latter camp. Insulet's lawsuit was expected. And completing the transaction enables the more financially and legally resource-rich MDT to become the party to the litigation.
The SPA between Jesse Kim and MDT was expected to complete on 25 October. That was not a hard date. It has now been pushed out to 3 January 2024. 


United States

Medtronic, PLC develops therapeutic and diagnostic medical products. The Company's principal products include those for bradycardia pacing, tachyarrhythmia management, atrial fibrillation management, heart failure management, heart valve replacement, malignant and non-malignant pain, and movement disorders. Medtronic's products are sold worldwide.

Medtronic Plc (MDT US)

Medtronic plc: Data Driven Innovations & 5 Major Drivers Of Its Future Growth! - Financial Forecasts

Medtronic delivered a solid quarter with its mid-single-digit revenue growth exceeding expectations. The fiscal '24 third quarter earnings were...

Baptista Research

Medtronic (MDT US): Beat-And-Raise Q2; Weight Loss Drugs Not to Impact Growth; New Device Approval

Medtronic reported Q2FY24 organic revenue growth of 5%. The company raised FY24 organic revenue growth and EPS guidance. FDA approval for a new...

Tina Banerjee

Medtronic PLC: Can The New FDA Approval Help Them Revolutionize Hypertension Treatment? - Major Drivers

Medtronic plc delivered an all-around beat in the previous quarter, delivering mid-single-digit revenue growth across diverse business segments...

Baptista Research

Medtronic plc: Initiation of Coverage - Business Strategy

This is our first report on medtech giant, Medtronic plc. In the Cranial & Spinal Technologies division, Medtronic achieved impressive global...

Baptista Research

EOFlow/Medtronic: Signs of Life

The SPA between Jesse Kim and Medtronic was expected to complete on 25 October. That was not a hard date. It has now been pushed out to 3 Janaury...

David Blennerhassett

Medtronic plc: Data Driven Innovations & 5 Major Drivers Of Its Future Growth! - Financial Forecasts

Medtronic delivered a solid quarter with its mid-single-digit revenue growth exceeding expectations. The fiscal '24 third quarter earnings were...

Baptista Research

Medtronic (MDT US): Beat-And-Raise Q2; Weight Loss Drugs Not to Impact Growth; New Device Approval

​Medtronic reported Q2FY24 organic revenue growth of 5%. The company raised FY24 organic revenue growth and EPS guidance. FDA approval for a new...

Tina Banerjee

Medtronic PLC: Can The New FDA Approval Help Them Revolutionize Hypertension Treatment? - Major Drivers

Medtronic plc delivered an all-around beat in the previous quarter, delivering mid-single-digit revenue growth across diverse business segments...

Baptista Research

Medtronic plc: Initiation of Coverage - Business Strategy

This is our first report on medtech giant, Medtronic plc. In the Cranial & Spinal Technologies division, Medtronic achieved impressive global...

Baptista Research

EOFlow/Medtronic: Signs of Life

The SPA between Jesse Kim and Medtronic was expected to complete on 25 October. That was not a hard date. It has now been pushed out to 3 Janaury...

David Blennerhassett

Medtronic reported Q2FY24 organic revenue growth of 5%. The company raised FY24 organic revenue growth and EPS guidance. FDA approval for a new...