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>Teledyne Technologies has moved to deepen its healthcare imaging presence through an agreement to acquire Varex Imaging for approximately $1.1 billion, including equity awards and debt.</li><li>Announced on August 10, the all-cash transaction values Varex at $18.90 per share and has been unanimously approved by both companies’ boards, with completion expected in early 2027 subject to required approvals.</li><li>The timing is notable because Teledyne entered the deal from a position of improving operating momentum.</li></ul>

Teledyne Technologies has moved to deepen its healthcare imaging presence through an agreement to acquire Varex Imaging for approximately $1.1 billion, including equity awards and debt.Announced on August 10, the all-cash transaction values Varex at $18.90 per share and has been unanimously approved by both companies’ boards, with completion expected in early 2027 subject to required approvals.The timing is notable because Teledyne entered the deal from a position of improving operating momentum.

Teledyne’s $1.1 Billion Varex Acquisition Could Reshape Imaging!

<ul><li>Teledyne Technologies reported its second quarter of fiscal 2026 with record sales, orders, and operating profit, reflecting broad-based growth across its diversified portfolio.</li><li>Sales increased 9.8% year-over-year, with non-GAAP earnings rising 20.8%, supported by strong backlog execution and approximately $5 billion in funded backlog at quarter-end.</li><li>Orders exceeded sales for the 11th consecutive quarter, driven largely by robust demand in the Digital Imaging segment, where organic sales growth of nearly 12% was fueled by infrared detectors and subsystems for space, airborne, and maritime unmanned systems, along with counter-drone applications.</li></ul>

Teledyne Technologies reported its second quarter of fiscal 2026 with record sales, orders, and operating profit, reflecting broad-based growth across its diversified portfolio.Sales increased 9.8% year-over-year, with non-GAAP earnings rising 20.8%, supported by strong backlog execution and approximately $5 billion in funded backlog at quarter-end.Orders exceeded sales for the 11th consecutive quarter, driven largely by robust demand in the Digital Imaging segment, where organic sales growth of nearly 12% was fueled by infrared detectors and subsystems for space, airborne, and maritime unmanned systems, along with counter-drone applications.

Teledyne Is Not Just A Defense Story — Space Tops $400 Million!

<ul><li>Teledyne Technologies reported strong financial results for the first quarter of 2026, driven by growth across several key segments despite some challenges within parts of its business.</li><li>The company achieved record sales, earnings per share, and operating margins.</li><li>Total sales increased by 7.6%, with non-GAAP earnings rising 17.2%.</li></ul>

Teledyne Technologies reported strong financial results for the first quarter of 2026, driven by growth across several key segments despite some challenges within parts of its business.The company achieved record sales, earnings per share, and operating margins.Total sales increased by 7.6%, with non-GAAP earnings rising 17.2%.

Teledyne Technologies: Can Its $4.6 Billion Backlog Drive A Stronger Second-Half Revenue Surge?

<ul><li>Teledyne Technologies Incorporated concluded the year 2025 with significant achievements, marking the largest quarterly orders, sales, and non-GAAP earnings in the company's history.</li><li>This resulted in an optimistic outlook for the coming year, supported by a robust set of results and new leadership.</li><li>For the fourth quarter of 2025, sales rose by 7.3% year-over-year, with non-GAAP earnings increasing by 14.1%.</li></ul>

Teledyne Technologies Incorporated concluded the year 2025 with significant achievements, marking the largest quarterly orders, sales, and non-GAAP earnings in the company's history.This resulted in an optimistic outlook for the coming year, supported by a robust set of results and new leadership.For the fourth quarter of 2025, sales rose by 7.3% year-over-year, with non-GAAP earnings increasing by 14.1%.

Teledyne Technologies: What the Marine Corps Deals Really Signal—A Game-Changing Shift in Loitering Munitions!

<ul><li>Teledyne Technologies Incorporated recently reported its financial results for the third quarter of the fiscal year 2025.</li><li>The results included record levels in several key financial metrics, such as quarterly sales, non-GAAP earnings per share, and free cash flow.</li><li>Sales increased by 6.7% year-over-year, and non-GAAP earnings rose by 9.2%.</li></ul>

Teledyne Technologies Incorporated recently reported its financial results for the third quarter of the fiscal year 2025.The results included record levels in several key financial metrics, such as quarterly sales, non-GAAP earnings per share, and free cash flow.Sales increased by 6.7% year-over-year, and non-GAAP earnings rose by 9.2%.

Teledyne Technologies Is Expanding Across Marine & Environmental Markets—A Diversified Growth Engine Emerges!

United States

Teledyne Technologies Inc. provides electronic subsystems and instrumentation. The Company provides aerospace and defense electronics, digital imaging products & software, monitoring instrumentation for marine & environmental applications, harsh environment interconnect products, and subsystems for satellite communications.  Teledyne also provides engineered systems.

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Teledyne Technologies (TDY US)

Teledyne’s $1.1 Billion Varex Acquisition Could Reshape Imaging!

Teledyne Technologies has moved to deepen its healthcare imaging presence through an agreement to acquire Varex Imaging for approximately $1.1...

Baptista Research

Teledyne Is Not Just A Defense Story — Space Tops $400 Million!

Teledyne Technologies reported its second quarter of fiscal 2026 with record sales, orders, and operating profit, reflecting broad-based growth...

Baptista Research

Teledyne Technologies: Can Its $4.6 Billion Backlog Drive A Stronger Second-Half Revenue Surge?

Teledyne Technologies reported strong financial results for the first quarter of 2026, driven by growth across several key segments despite some...

Baptista Research

Teledyne Technologies: What the Marine Corps Deals Really Signal—A Game-Changing Shift in Loitering Munitions!

Teledyne Technologies Incorporated concluded the year 2025 with significant achievements, marking the largest quarterly orders, sales, and...

Baptista Research

Teledyne Technologies Is Expanding Across Marine & Environmental Markets—A Diversified Growth Engine Emerges!

Teledyne Technologies Incorporated recently reported its financial results for the third quarter of the fiscal year 2025. The results included...

Baptista Research

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