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

<ul>
<li>DeepSeek appears to have turned the chatbot market upside-down, putting pressure on AI-linked stocks. The dust has yet to settle, but the selloff has been largely contained to AI-linked stocks.</li>
<li>The rest of the market did not seem to care; the equal-weighted S&amp;P 500 was roughly flat yesterday.</li>
<li>Additionally, market dynamics remain healthy. Bottom line: as long as the S&amp;P 500 remains above 5600-5670, our long-term outlook remains bullish.</li>
</ul>


DeepSeek appears to have turned the chatbot market upside-down, putting pressure on AI-linked stocks. The dust has yet to settle, but the selloff has been largely contained to AI-linked stocks.
The rest of the market did not seem to care; the equal-weighted S&amp;P 500 was roughly flat yesterday.
Additionally, market dynamics remain healthy. Bottom line: as long as the S&amp;P 500 remains above 5600-5670, our long-term outlook remains bullish.


S&P 500 Testing Prior Breakout Level; Market Dynamics Remain Healthy Despite AI-Linked Weakness

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

<ul>
<li>Beta Bionics, a high-growth medtech company and developer of an integrated bionics pancreas system called iLet, filed for an IPO in the United States.</li>
<li>Maker of insulin delivery device cleared by the FDA offers 7.5M shares at a price range between $14.00 and $16.00 per share.</li>
<li>With the most recent S-1/A, Beta Bionics plans to raise ~$122M at the high end of range at $16.00 per share, including a concurrent private placement.</li>
</ul>


Beta Bionics, a high-growth medtech company and developer of an integrated bionics pancreas system called iLet, filed for an IPO in the United States.
Maker of insulin delivery device cleared by the FDA offers 7.5M shares at a price range between $14.00 and $16.00 per share.
With the most recent S-1/A, Beta Bionics plans to raise ~$122M at the high end of range at $16.00 per share, including a concurrent private placement.


Beta Bionics IPO: Will The Innovative MedTech Company Repeat The Success of Livongo Health?

Equity Long-Short Analyst

Pyari Menon

Thematic (Sector/Industry)

<ul>
<li>This report is almost entirely based on datamined from technical publications related to patents and innovations in the area of Odontology.</li>
<li>The industry will see significant consolidation as mid-sized and smaller players with inspired innovations are be bought out as the industry seeks more cost-efficient distribution channels</li>
<li>Among the listed companies <a href="https://www.smartkarma.com/entities/3-m-co" target="_blank" data-smartkarma-citation="entities:14866:1" rel="noopener">3M Co (MMM US)</a> , <a href="https://www.smartkarma.com/entities/dentsply-international-inc" target="_blank" data-smartkarma-citation="entities:10926:1" rel="noopener">Dentsply International (XRAY US)</a> , <a href="https://www.smartkarma.com/entities/align-technology-inc" target="_blank" data-smartkarma-citation="entities:2817:1" rel="noopener">Align Technology (ALGN US)</a> , <a href="https://www.smartkarma.com/entities/envista-holdings-corp" target="_blank" data-smartkarma-citation="entities:35866:1" rel="noopener">Envista Holdings (NVST US)</a>  &amp; <a href="https://www.smartkarma.com/entities/straumann-holding-ag" target="_blank" data-smartkarma-citation="entities:22493:1" rel="noopener">Straumann Holding (STMN SW)</a> stand out. </li>
</ul>


This report is almost entirely based on datamined from technical publications related to patents and innovations in the area of Odontology.
The industry will see significant consolidation as mid-sized and smaller players with inspired innovations are be bought out as the industry seeks more cost-efficient distribution channels
Among the listed companies 3M Co (MMM US) , Dentsply International (XRAY US) , Align Technology (ALGN US) , Envista Holdings (NVST US)  &amp; Straumann Holding (STMN SW) stand out. 


A Detailed Look Into Innovations in Dentistry

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/terumo-corp" target="_blank" data-smartkarma-citation="entities:6708:1" rel="noopener">Terumo Corp (4543 JP)</a> has reported record high quarterly revenue and profit in Q1FY25, thanks to strong demand across all the business segments, effects of pricing measures, and favorable Fx.</li>
<li>With the steady progress in profit improvement measures, Q1FY25 gross profit margin (53.3%) reached to its highest level since Q2FY22. Operating and net profit growth outpaced that of revenue.</li>
<li>Amid currency uncertainties and inflation, Terumo has maintained its full-year FY25 guidance issued in May. Growth will be driven by US and Europe owing to the sustained increase in demand.</li>
</ul>



Terumo Corp (4543 JP) has reported record high quarterly revenue and profit in Q1FY25, thanks to strong demand across all the business segments, effects of pricing measures, and favorable Fx.
With the steady progress in profit improvement measures, Q1FY25 gross profit margin (53.3%) reached to its highest level since Q2FY22. Operating and net profit growth outpaced that of revenue.
Amid currency uncertainties and inflation, Terumo has maintained its full-year FY25 guidance issued in May. Growth will be driven by US and Europe owing to the sustained increase in demand.


Terumo Corp (4543 JP): Stellar Performance in Q1; Cost Control Measures Are Bearing Fruits

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>After the market close on 21 August, Eoflow (294090 KS) announced a rights offering capital raise of 9.1 million new shares, representing share dilution of 23%.</li>
<li>Based on the expected rights offering issue price of 9,040 won, the company is expected to raise 82.2 billion won in this capital raise. </li>
<li>Eoflow has monthly cash burn rate of about 3.3 billion won. If the rights offering is successful, it would have adequate capital resources for about a couple of years. </li>
</ul>


After the market close on 21 August, Eoflow (294090 KS) announced a rights offering capital raise of 9.1 million new shares, representing share dilution of 23%.
Based on the expected rights offering issue price of 9,040 won, the company is expected to raise 82.2 billion won in this capital raise. 
Eoflow has monthly cash burn rate of about 3.3 billion won. If the rights offering is successful, it would have adequate capital resources for about a couple of years. 


Eoflow: Rights Offering of 82 Billion Won and [Medtronic & Eoflow - Don't You Forget About Me]

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.

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Medtronic Plc (MDT US)

S&P 500 Testing Prior Breakout Level; Market Dynamics Remain Healthy Despite AI-Linked Weakness

$SPX Testing Prior Breakout Level; Market Dynamics Remain Healthy Despite AI-Linked Weakness; $DXY, Treasury yields, and crude oil near-term tops...

Vermilion Research

Beta Bionics IPO: Will The Innovative MedTech Company Repeat The Success of Livongo Health?

Beta Bionics, a developer of bionic pancreas system called iLet, is expected to IPO next week. In my insight, I discuss IPO valuation and...

Andrei Zakharov

A Detailed Look Into Innovations in Dentistry

The report highlights the most innovative well-known & lesser-known dental companies driving advancements in digital dentistry, materials,...

Pyari Menon

Terumo Corp (4543 JP): Stellar Performance in Q1; Cost Control Measures Are Bearing Fruits

Terumo announced buyback of 15K shares (~1% of total outstanding shares) for ¥30B. The company will also conduct a secondary offering of 73M shares...

Tina Banerjee

Eoflow: Rights Offering of 82 Billion Won and [Medtronic & Eoflow - Don't You Forget About Me]

After the market close on 21 August, Eoflow (294090 KS) announced a rights offering capital raise of 9.1 million new shares, representing share...

Douglas Kim

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