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

MSCI Emerging Markets Index / Technical Analysis

<p style="text-align: justify;">We continue to believe the weight of the evidence points to a new leg higher for global equities, a viewpoint that is supported by the several international markets that are breaking out to new highs or making bullish inflections since our previous <em>Int’l Compass </em>(10/31/19). While developments continue to lean bullish, global equities have rallied substantially since the start of October, making it perfectly reasonable to expect some consolidation of recent gains which would allow for a more meaningful move higher.</p>

We continue to believe the weight of the evidence points to a new leg higher for global equities, a viewpoint that is supported by the several international markets that are breaking out to new highs or making bullish inflections since our previous Int’l Compass (10/31/19). While developments continue to lean bullish, global equities have rallied substantially since the start of October, making it perfectly reasonable to expect some consolidation of recent gains which would allow for a more meaningful move higher.

Global Equity Strategy: The Pause that Refreshes?

Research Coverage of Japanese Listed Companies, Shared Research Inc

Shared Research

Research Coverage of Japanese Listed Companies

Shared Research Inc

Pioneering research coverage of Japanese listed companies. Now customizable and interactive for global institutional investors. Corporate access reimagined.

Equity Bottom-Up

Olba Healthcare Holdings / Equity Bottom-Up

<ul><li>FY06/25 sales were JPY122.7bn (+3.5% YoY), operating profit JPY2.0bn (-11.1% YoY), net income JPY1.4bn (-4.7% YoY).</li><li>FY06/26 forecasts: sales JPY123.0bn (+4.3% YoY), operating profit JPY2.0bn (+1.0% YoY), net income JPY1.3bn (-7.6% YoY).</li><li>FY06/28 targets: consolidated sales JPY142.0bn (CAGR 5.0% from FY06/25), operating profit JPY2.7bn (10.9%).</li></ul>

FY06/25 sales were JPY122.7bn (+3.5% YoY), operating profit JPY2.0bn (-11.1% YoY), net income JPY1.4bn (-4.7% YoY).FY06/26 forecasts: sales JPY123.0bn (+4.3% YoY), operating profit JPY2.0bn (+1.0% YoY), net income JPY1.3bn (-7.6% YoY).FY06/28 targets: consolidated sales JPY142.0bn (CAGR 5.0% from FY06/25), operating profit JPY2.7bn (10.9%).

Olba Healthcare Holdings (2689 JP): Full-year FY06/25 flash update

<ul><li>Sales increased by 3.4% YoY to JPY92.5bn, but operating profit decreased by 23.3% YoY to JPY1.3bn.</li><li>Medical Devices and Consumables segment sales rose 6.7% YoY, driven by consumables and new facility acquisitions.</li><li>Equipment sales declined 15.3% YoY, while SG&A expenses increased, leading to a 25.8% YoY drop in operating profit.</li></ul>

Sales increased by 3.4% YoY to JPY92.5bn, but operating profit decreased by 23.3% YoY to JPY1.3bn.Medical Devices and Consumables segment sales rose 6.7% YoY, driven by consumables and new facility acquisitions.Equipment sales declined 15.3% YoY, while SG&A expenses increased, leading to a 25.8% YoY drop in operating profit.

Olba Healthcare Holdings (2689 JP): Q3 FY06/25 flash update

<ul><li>The company's sales and profits are concentrated in Q3 due to medical equipment deliveries to public institutions.</li><li>Medical Devices and Consumables segment sales rose 7.6% YoY, driven by consumables and strategic regional sales activities.</li><li>SPD business sales increased 9.8% YoY, with operating profit up 5.3% YoY, despite rising SG&A expenses.</li></ul>

The company's sales and profits are concentrated in Q3 due to medical equipment deliveries to public institutions.Medical Devices and Consumables segment sales rose 7.6% YoY, driven by consumables and strategic regional sales activities.SPD business sales increased 9.8% YoY, with operating profit up 5.3% YoY, despite rising SG&A expenses.

Olba Healthcare Holdings (2689 JP): 1H FY06/25 flash update

<ul><li>In Q1 FY06/25, the company reported sales of JPY29.0bn (+5.6% YoY) and operating profit of JPY279mn (+11.3% YoY).</li><li>Medical Devices and Consumables sales rose 5.7% YoY, driven by consumables, despite rising procurement costs and equipment sales decline.</li><li>SPD business sales grew 11.0% YoY; Nursing Care Products segment saw a 1.9% YoY sales increase, with operating profit decline.</li></ul>

In Q1 FY06/25, the company reported sales of JPY29.0bn (+5.6% YoY) and operating profit of JPY279mn (+11.3% YoY).Medical Devices and Consumables sales rose 5.7% YoY, driven by consumables, despite rising procurement costs and equipment sales decline.SPD business sales grew 11.0% YoY; Nursing Care Products segment saw a 1.9% YoY sales increase, with operating profit decline.

Olba Healthcare Holdings (2689 JP): Q1 FY06/25 flash update

Japan

Olba Healthcare Holdings, Inc. wholesales, rentals, leases, maintains, and repairs medical equipment and materials.  The Company also sells industrial hygiene, physics and chemistry, biochemistry, and optics equipment.  Kawanishi provides economic consulting to hospitals as well.

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Olba Healthcare Holdings (2689 JP)

Global Equity Strategy: The Pause that Refreshes?

We continue to believe the weight of the evidence points to a new leg higher for global equities, a viewpoint that is supported by the several...

Vermilion Research