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>Quest Diagnostics reported strong results for the first quarter of 2025 with a 12% increase in revenues, primarily driven by acquisitions, organic growth, and increased demand for advanced diagnostics.</li><li>The company's strategy, focused on expanding its advanced diagnostics portfolio in key clinical areas and increasing automation and AI usage, appears to be paying dividends, as evidenced by the robust revenue growth in its physician and hospital channels.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Quest Diagnostics reported strong results for the first quarter of 2025 with a 12% increase in revenues, primarily driven by acquisitions, organic growth, and increased demand for advanced diagnostics.The company's strategy, focused on expanding its advanced diagnostics portfolio in key clinical areas and increasing automation and AI usage, appears to be paying dividends, as evidenced by the robust revenue growth in its physician and hospital channels.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Quest Diagnostics: Investment in Technology & Data Management For A Competitive Edge!

<ul><li>Quest Diagnostics Inc. reported strong financial performance for the fourth quarter and full year of 2024, driven primarily by revenue growth from acquisitions and robust organic growth.</li><li>Revenue for the fourth quarter increased by 14.5% to $2.62 billion, with organic revenue growth accounting for nearly 5%.</li><li>This growth was supported by the completion of eight acquisitions within the year, including LifeLabs in Canada and several hospital outreach lab businesses in the U.S. These acquisitions bolstered the company's market position, particularly within the physician and hospital channels, and expanded its geographic reach.</li></ul>

Quest Diagnostics Inc. reported strong financial performance for the fourth quarter and full year of 2024, driven primarily by revenue growth from acquisitions and robust organic growth.Revenue for the fourth quarter increased by 14.5% to $2.62 billion, with organic revenue growth accounting for nearly 5%.This growth was supported by the completion of eight acquisitions within the year, including LifeLabs in Canada and several hospital outreach lab businesses in the U.S. These acquisitions bolstered the company's market position, particularly within the physician and hospital channels, and expanded its geographic reach.

Quest Diagnostics: Enhanced Offerings In Cardiometabolic Testing & Autoimmune Disorders Catalyzing Growth!

<ul><li>Quest Diagnostics delivered a robust performance for the third quarter of the fiscal year, marked by an 8.5% total revenue growth with an inclusion of 4.2% organic growth.</li><li>This success roots back to the strategic initiatives of new customer acquisitions, expanding business with existing customers (physicians and hospitals), and the completion of three acquisitions including the significant acquisition of LifeLabs.</li><li>These efforts not only underline growth but also complement the accelerated strategy aimed at scaling operations in Canada and broadening Quest Diagnostics' U.S. market presence.</li></ul>

Quest Diagnostics delivered a robust performance for the third quarter of the fiscal year, marked by an 8.5% total revenue growth with an inclusion of 4.2% organic growth.This success roots back to the strategic initiatives of new customer acquisitions, expanding business with existing customers (physicians and hospitals), and the completion of three acquisitions including the significant acquisition of LifeLabs.These efforts not only underline growth but also complement the accelerated strategy aimed at scaling operations in Canada and broadening Quest Diagnostics' U.S. market presence.

Quest Diagnostics:  Expansion into New Markets through Strategic Acquisitions As A Critical Growth Catalyst! - Major Drivers

<ul><li>Quest Diagnostics delivered a mixed yet overall positive performance in its recent financial results.</li><li>The company reported a 2.5% increase in total revenues, with base business revenues growing by nearly 4%.</li><li>This growth is attributed to the expansion of new physician and hospital customers and an improved test mix, with advanced diagnostics seeing greater adoption and healthcare utilization remaining strong.</li></ul>

Quest Diagnostics delivered a mixed yet overall positive performance in its recent financial results.The company reported a 2.5% increase in total revenues, with base business revenues growing by nearly 4%.This growth is attributed to the expansion of new physician and hospital customers and an improved test mix, with advanced diagnostics seeing greater adoption and healthcare utilization remaining strong.

Quest Diagnostics: Will The Acquisition of Canadian Lab Provider LifeLabs Be A Game Changer? - 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

<ul>
<li>Since late-February (2/25/25 Compass) we expected an 8-10% pullback to provide a buying opportunity. But that all changed in last week's Compass (4/1/25), when we downgraded our outlook to bearish/cautious.</li>
<li>A historic selloff has ensued and significant damage has been done as market dynamics have worsened.</li>
<li>Until we see some base-building process develop alongside improving market dynamics, we remain cautious and we continue to favor defensives as long as the SPX is below its 200-day MA.</li>
</ul>


Since late-February (2/25/25 Compass) we expected an 8-10% pullback to provide a buying opportunity. But that all changed in last week's Compass (4/1/25), when we downgraded our outlook to bearish/cautious.
A historic selloff has ensued and significant damage has been done as market dynamics have worsened.
Until we see some base-building process develop alongside improving market dynamics, we remain cautious and we continue to favor defensives as long as the SPX is below its 200-day MA.


S&P 500 and Nasdaq 100 Testing Prior 2022 Highs; Still Bearish and Cautious

United States

Quest Diagnostics Incorporated provides diagnostic testing, information, and services.  The Company operates a national network of full-service laboratories, rapid response laboratories, and patient service centers.  Quest Diagnostics provides esoteric testing, routine medical testing, drugs of abuse testing, and non-hospital-based anatomicpathology testing.

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Quest Diagnostics (DGX US)

Quest Diagnostics: Investment in Technology & Data Management For A Competitive Edge!

Quest Diagnostics reported strong results for the first quarter of 2025 with a 12% increase in revenues, primarily driven by acquisitions, organic...

Baptista Research

Quest Diagnostics: Enhanced Offerings In Cardiometabolic Testing & Autoimmune Disorders Catalyzing Growth!

Quest Diagnostics Inc. reported strong financial performance for the fourth quarter and full year of 2024, driven primarily by revenue growth from...

Baptista Research

Quest Diagnostics: Expansion into New Markets through Strategic Acquisitions As A Critical Growth Catalyst! - Major Drivers

Quest Diagnostics delivered a robust performance for the third quarter of the fiscal year, marked by an 8.5% total revenue growth with an...

Baptista Research

Quest Diagnostics: Will The Acquisition of Canadian Lab Provider LifeLabs Be A Game Changer? - Major Drivers

Quest Diagnostics delivered a mixed yet overall positive performance in its recent financial results. The company reported a 2.5% increase in...

Baptista Research

S&P 500 and Nasdaq 100 Testing Prior 2022 Highs; Still Bearish and Cautious

$SPX and Nasdaq 100 $QQQ Testing Prior 2022 Highs; Upgrading Health Care $XLV; Downgrading Transportation $IYT; Still Bearish and Cautious; Sell...

Vermilion Research

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