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>ResMed, a global leader in connected health technology primarily focused on sleep and respiratory care, reported its fourth quarter and full fiscal year 2026 results, highlighting 9% and 10% headline revenue growth respectively, with 8% growth on a constant currency basis.</li><li>Non-GAAP earnings per share increased 16% in the quarter and 17% for the year, driven by operational efficiencies and margin expansion despite inflationary pressures.</li><li>The company generated $1.6 billion in free cash flow for fiscal 2026, supporting substantial shareholder returns through over $1 billion in combined share repurchases and dividends, with a notable 72% year-over-year increase in capital returned.</li></ul>

ResMed, a global leader in connected health technology primarily focused on sleep and respiratory care, reported its fourth quarter and full fiscal year 2026 results, highlighting 9% and 10% headline revenue growth respectively, with 8% growth on a constant currency basis.Non-GAAP earnings per share increased 16% in the quarter and 17% for the year, driven by operational efficiencies and margin expansion despite inflationary pressures.The company generated $1.6 billion in free cash flow for fiscal 2026, supporting substantial shareholder returns through over $1 billion in combined share repurchases and dividends, with a notable 72% year-over-year increase in capital returned.

ResMed Unlocks A Bigger Sleep-Health Ecosystem With OURA And Noctrix!

<ul><li>ResMed, Inc. reported its third quarter results for fiscal year 2026, delivering solid financial and operational performance marked by 11% headline revenue growth and 8% growth on a constant currency basis.</li><li>The company highlighted a significant 21% increase in non-GAAP earnings per share, supported by operating leverage and margin expansion.</li><li>Gross margin expanded by 290 basis points year-over-year and 50 basis points sequentially, driven by component cost improvements, manufacturing and logistics efficiencies, as well as favorable product mix and currency effects.</li></ul>

ResMed, Inc. reported its third quarter results for fiscal year 2026, delivering solid financial and operational performance marked by 11% headline revenue growth and 8% growth on a constant currency basis.The company highlighted a significant 21% increase in non-GAAP earnings per share, supported by operating leverage and margin expansion.Gross margin expanded by 290 basis points year-over-year and 50 basis points sequentially, driven by component cost improvements, manufacturing and logistics efficiencies, as well as favorable product mix and currency effects.

ResMed: Why Restless Legs Syndrome, Sleep Apnea Testing & Digital Platforms Matter Now!

<ul><li>ResMed's financial performance in the second quarter of fiscal year 2026 offers insights into its operational strengths and market challenges.</li><li>The company reported an 11% increase in headline revenue, or 9% growth on a constant currency basis, showcasing solid market performance across its global segments.</li><li>The revenue of $1.42 billion is buoyed by robust growth in device and mask sales, particularly in the U.S., Canada, and Latin America, where sales grew by 11%.</li></ul>

ResMed's financial performance in the second quarter of fiscal year 2026 offers insights into its operational strengths and market challenges.The company reported an 11% increase in headline revenue, or 9% growth on a constant currency basis, showcasing solid market performance across its global segments.The revenue of $1.42 billion is buoyed by robust growth in device and mask sales, particularly in the U.S., Canada, and Latin America, where sales grew by 11%.

ResMed’s Multi-Vector Growth Story: GLP-1 Tailwinds, Primary Care Expansion, and Digital Health!

<ul><li>ResMed Inc. delivered a strong performance in the first quarter of fiscal year 2026, showcasing a robust operational and financial stance amidst challenging global market conditions.</li><li>The company reported a 9% growth in revenue, or 8% in constant currency, reflecting significant contributions across its product portfolio.</li><li>The U.S., Canada, and Latin American markets demonstrated high single-digit growth in device sales and double-digit growth in masks, contributing substantially to the overall revenue growth.</li></ul>

ResMed Inc. delivered a strong performance in the first quarter of fiscal year 2026, showcasing a robust operational and financial stance amidst challenging global market conditions.The company reported a 9% growth in revenue, or 8% in constant currency, reflecting significant contributions across its product portfolio.The U.S., Canada, and Latin American markets demonstrated high single-digit growth in device sales and double-digit growth in masks, contributing substantially to the overall revenue growth.

The Secret Behind ResMed’s Market Surge—AI, Awareness, & Smarter Sleep Campaigns!

Derivatives and Quantitative Strategist

Gaudenz Schneider

<ul>
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Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.</li>
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Highlights: In Australia, currently four pair trade opportunities persist across four sectors.</li>
<li>
Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.</li>
</ul>



Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.

Highlights: In Australia, currently four pair trade opportunities persist across four sectors.

Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.


Australia: Relative Value Opportunities and Pair Trades (21 Aug 2026)

United States

ResMed Inc. develops, manufactures, and markets medical equipment for the treatment of sleep disordered breathing. The Company sells diagnostic and treatment devices in various countries through its subsidiaries and independent distributors.

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ResMed (RMD UN)

ResMed Unlocks A Bigger Sleep-Health Ecosystem With OURA And Noctrix!

ResMed, a global leader in connected health technology primarily focused on sleep and respiratory care, reported its fourth quarter and full...

Baptista Research

ResMed: Why Restless Legs Syndrome, Sleep Apnea Testing & Digital Platforms Matter Now!

ResMed, Inc. reported its third quarter results for fiscal year 2026, delivering solid financial and operational performance marked by 11%...

Baptista Research

ResMed’s Multi-Vector Growth Story: GLP-1 Tailwinds, Primary Care Expansion, and Digital Health!

ResMed's financial performance in the second quarter of fiscal year 2026 offers insights into its operational strengths and market challenges. The...

Baptista Research

The Secret Behind ResMed’s Market Surge—AI, Awareness, & Smarter Sleep Campaigns!

ResMed Inc. delivered a strong performance in the first quarter of fiscal year 2026, showcasing a robust operational and financial stance amidst...

Baptista Research

Australia: Relative Value Opportunities and Pair Trades (21 Aug 2026)

Discover four pair trade opportunities across four sectors using statistical mean-reversion methodology for actionable insights.

Gaudenz Schneider

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ResMed Unlocks A Bigger Sleep-Health Ecosystem With OURA And Noctrix!

ResMed, a global leader in connected health technology primarily focused on sleep and respiratory care, reported its fourth quarter and full...

Baptista Research

ResMed: Why Restless Legs Syndrome, Sleep Apnea Testing & Digital Platforms Matter Now!

ResMed, Inc. reported its third quarter results for fiscal year 2026, delivering solid financial and operational performance marked by 11%...

Baptista Research

ResMed’s Multi-Vector Growth Story: GLP-1 Tailwinds, Primary Care Expansion, and Digital Health!

ResMed's financial performance in the second quarter of fiscal year 2026 offers insights into its operational strengths and market challenges. The...

Baptista Research

The Secret Behind ResMed’s Market Surge—AI, Awareness, & Smarter Sleep Campaigns!

ResMed Inc. delivered a strong performance in the first quarter of fiscal year 2026, showcasing a robust operational and financial stance amidst...

Baptista Research

Australia: Relative Value Opportunities and Pair Trades (21 Aug 2026)

​Discover four pair trade opportunities across four sectors using statistical mean-reversion methodology for actionable insights.

Gaudenz Schneider

Discover four pair trade opportunities across four sectors using statistical mean-reversion methodology for actionable insights.