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>STERIS plc's first quarter of fiscal 2026 demonstrates a solid start to the financial year, with several key performance metrics showcasing both growth and resilience amidst challenging macroeconomic conditions.</li><li>The company reported a 9% increase in total revenue, and an 8% rise in constant currency organic revenue growth, pointing to robust operational performance that was primarily driven by volume and a favorable pricing environment.</li><li>This growth in revenue was accompanied by a slight increase in gross margin, up 20 basis points from the previous year to 45.3%.</li></ul>

STERIS plc's first quarter of fiscal 2026 demonstrates a solid start to the financial year, with several key performance metrics showcasing both growth and resilience amidst challenging macroeconomic conditions.The company reported a 9% increase in total revenue, and an 8% rise in constant currency organic revenue growth, pointing to robust operational performance that was primarily driven by volume and a favorable pricing environment.This growth in revenue was accompanied by a slight increase in gross margin, up 20 basis points from the previous year to 45.3%.

STERIS plc: Initiation of Coverage- These Are The 6 Biggest Factors Impacting Its Performance In 2025 & Beyond!

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

<ul><li>Steris has divested its dental business to focus on sterilization services and products</li><li>Positioned for growth with recovery of life science sector and consolidation in US hospital systems driving demand</li><li>CEO Dan Carestio has navigated supply chain issues, leading to increased operating margins and earnings per share growth, expected to trade at or above its large cap MedTech peer group</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Steris has divested its dental business to focus on sterilization services and productsPositioned for growth with recovery of life science sector and consolidation in US hospital systems driving demandCEO Dan Carestio has navigated supply chain issues, leading to increased operating margins and earnings per share growth, expected to trade at or above its large cap MedTech peer groupThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Global Healthcare Analyst

Tina Banerjee

Becton Dickinson and Co / Equity Bottom-Up

<ul>
<li>Ruling on Ethylene Oxide in favor of Sotera is a positive for all the medical devices companies including <a href="https://www.smartkarma.com/entities/becton-dickinson-and-co" target="_blank" data-smartkarma-citation="entities:13061:1" rel="noopener">Becton Dickinson and Co (BDX US)</a>, who have EO sterilization facilities.  </li>
<li>In FY22, BD reported strong base business, which grew 6.9% y/y on reported basis. On currency-neutral basis, base business increased 9.4% y/y in FY22, accelerated from 8.1% in FY21.</li>
<li>FY22 marks 51st consecutive year of dividend increase for BD, which makes it one of the leading dividend yield stocks. Currently, the stock has a dividend yield of 1.53%.</li>
</ul>


Ruling on Ethylene Oxide in favor of Sotera is a positive for all the medical devices companies including Becton Dickinson and Co (BDX US), who have EO sterilization facilities.  
In FY22, BD reported strong base business, which grew 6.9% y/y on reported basis. On currency-neutral basis, base business increased 9.4% y/y in FY22, accelerated from 8.1% in FY21.
FY22 marks 51st consecutive year of dividend increase for BD, which makes it one of the leading dividend yield stocks. Currently, the stock has a dividend yield of 1.53%.


Becton Dickinson and Co (BDX US): EO Ruling Is Positive; Strong Base Business to Drive Growth Ahead

M&A Reporting, CTFN

Jonathan Spitzer

M&A Reporting

CTFN

Bringing the marketplace leading coverage of mergers, events, and major corporate actions, CTFN has a team of seasoned reporters from Los Angeles to London, publishing news that advances stories that matter to event-driven investors and deal professionals.

Event-Driven

The U.S. Congress has pushed legislation to amend the present nature of U.S. antitrust reviews by barring one of the two U.S. antitrust enforcement agencies, the Federal Trade Commission,&nbsp;from proceeding with its own internal&nbsp;administrative hearing once a federal court has denied a preliminary injunction in a particular deal.

The U.S. Congress has pushed legislation to amend the present nature of U.S. antitrust reviews by barring one of the two U.S. antitrust enforcement agencies, the Federal Trade Commission,&nbsp;from proceeding with its own internal&nbsp;administrative hearing once a federal court has denied a preliminary injunction in a particular deal.

Bill Would Bar Second FTC Chance to Block Mergers

United States

STERIS Public Limited Company operates as a provider of infection prevention and other procedural products and services. The Company offers sterilizers and washers, surgical tables, lights and equipment management systems, and endoscopy accessories. STERIS serves healthcare, pharmaceutical, and medical device industries.

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STERIS (STE US)

STERIS plc: Initiation of Coverage- These Are The 6 Biggest Factors Impacting Its Performance In 2025 & Beyond!

STERIS plc's first quarter of fiscal 2026 demonstrates a solid start to the financial year, with several key performance metrics showcasing both...

Baptista Research

Steris Plc (STE) - Friday, May 31, 2024

Given its leading position across the majority of its businesses, this should trade at or above its large cap MedTech peer group.

Value Investors Club (VIC)

Becton Dickinson and Co (BDX US): EO Ruling Is Positive; Strong Base Business to Drive Growth Ahead

Recent EO ruling is positive for BD. Base business momentum, new launches targeting higher-impact and higher-growth markets, and tuck-in M&A should...

Tina Banerjee

Bill Would Bar Second FTC Chance to Block Mergers

The U.S. Congress has pushed legislation to amend the present nature of U.S. antitrust reviews by barring one of the two U.S. antitrust enforcement...

CTFN

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