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>The Cigna Group's fourth-quarter and full-year 2024 financial results reflect a mixed performance, with certain aspects showing growth while others reveal challenges.</li><li>The company reported a full-year revenue increase of 27% to approximately $247 billion, highlighting strong revenue growth.</li><li>Adjusted earnings per share (EPS) rose by 9% to $27.33, although this was below expectations, indicating some pressure on profitability.</li></ul>

The Cigna Group's fourth-quarter and full-year 2024 financial results reflect a mixed performance, with certain aspects showing growth while others reveal challenges.The company reported a full-year revenue increase of 27% to approximately $247 billion, highlighting strong revenue growth.Adjusted earnings per share (EPS) rose by 9% to $27.33, although this was below expectations, indicating some pressure on profitability.

Cigna Group: Strategic Growth & Capital Investments Driving Our Optimism!

<ul><li>Cigna Group's third-quarter 2024 earnings was decent and revealed shareholders' net income of $739 million or $2.63 per share for the quarter.</li><li>Notably, this figure was affected by a significant non-cash after-tax net realized investment loss of $1 billion related to VillageMD, resulting in a write-down of assets and an impairment charge.</li><li>This has been excluded from adjusted operating income and earnings per share.</li></ul>

Cigna Group's third-quarter 2024 earnings was decent and revealed shareholders' net income of $739 million or $2.63 per share for the quarter.Notably, this figure was affected by a significant non-cash after-tax net realized investment loss of $1 billion related to VillageMD, resulting in a write-down of assets and an impairment charge.This has been excluded from adjusted operating income and earnings per share.

Cigna Corporation: Specialty Market Position & Biosimilars Strategy Driving Our Bullishness! - Major Drivers

<ul><li>The Cigna Group has presented its first-quarter results for 2024, demonstrating financial strength and strategic advancements across its diverse business segments.</li><li>The financial outcomes reveal a sound start to the year, with increased revenue and adjusted earnings per share, alongside an uplift in the full year 2024 earnings guidance.</li><li>However, these positive aspects are accompanied by areas of setbacks and challenges suggesting that while Cigna is on a promising trajectory, there are complexities that might affect its future performance.</li></ul>

The Cigna Group has presented its first-quarter results for 2024, demonstrating financial strength and strategic advancements across its diverse business segments.The financial outcomes reveal a sound start to the year, with increased revenue and adjusted earnings per share, alongside an uplift in the full year 2024 earnings guidance.However, these positive aspects are accompanied by areas of setbacks and challenges suggesting that while Cigna is on a promising trajectory, there are complexities that might affect its future performance.

Cigna Corporation: Is Their Investment in VillageMD Yielding The Expected Results? - Major Drivers

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

<ul>
<li>Omada Health is expected to IPO this week. The company’s amended prospectus puts the expected price range per share at $18 to $20, implying a market cap of ~$1.1B.</li>
<li>Omada Health is a virtual-first healthcare provider, supporting people with chronic conditions: prediabetes, diabetes (T2D), hypertension, obesity and musculoskeletal.</li>
<li>A digital care provider stayed private for longer. Its direct competitor, Livongo Health, went public in 2019 and was acquired by Teladoc Health for ~$18.5B in 2020.</li>
</ul>


Omada Health is expected to IPO this week. The company’s amended prospectus puts the expected price range per share at $18 to $20, implying a market cap of ~$1.1B.
Omada Health is a virtual-first healthcare provider, supporting people with chronic conditions: prediabetes, diabetes (T2D), hypertension, obesity and musculoskeletal.
A digital care provider stayed private for longer. Its direct competitor, Livongo Health, went public in 2019 and was acquired by Teladoc Health for ~$18.5B in 2020.


Omada Health IPO: Stayed Private For Longer, Modest Upside Potential

<ul><li>The Cigna Group surpassed Wall Street's revenue and earnings expectations, maintaining the momentum for a sustained year in 2023.</li><li>The company's health services and benefits platforms continue to demonstrate strength, aligning with its mission to grow and serve effectively.</li><li>They reported a total revenue of $49 billion and adjusted earnings per share of $6.77.</li></ul>

The Cigna Group surpassed Wall Street's revenue and earnings expectations, maintaining the momentum for a sustained year in 2023.The company's health services and benefits platforms continue to demonstrate strength, aligning with its mission to grow and serve effectively.They reported a total revenue of $49 billion and adjusted earnings per share of $6.77.

The Cigna Group: Enhancing Their Virtual Care With The Acquisition Of Bright.md Technology Platform! - Major Drivers

United States

The Cigna Group operates as an insurance company. The Company offers life, accident, disability, supplemental, medicare, and dental insurance products and services. The Cigna Group serves individuals, families, and businesses worldwide.

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Cigna Group (CI US)

Cigna Group: Strategic Growth & Capital Investments Driving Our Optimism!

The Cigna Group's fourth-quarter and full-year 2024 financial results reflect a mixed performance, with certain aspects showing growth while...

Baptista Research

Cigna Corporation: Specialty Market Position & Biosimilars Strategy Driving Our Bullishness! - Major Drivers

Cigna Group's third-quarter 2024 earnings was decent and revealed shareholders' net income of $739 million or $2.63 per share for the...

Baptista Research

Cigna Corporation: Is Their Investment in VillageMD Yielding The Expected Results? - Major Drivers

The Cigna Group has presented its first-quarter results for 2024, demonstrating financial strength and strategic advancements across its diverse...

Baptista Research

Omada Health IPO: Stayed Private For Longer, Modest Upside Potential

Omada Health, a virtual healthcare provider for chronic conditions, set to IPO with expected price range of $18 to $20 per share, aiming for a...

Andrei Zakharov

The Cigna Group: Enhancing Their Virtual Care With The Acquisition Of Bright.md Technology Platform! - Major Drivers

The Cigna Group surpassed Wall Street's revenue and earnings expectations, maintaining the momentum for a sustained year in 2023. The company's...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Cigna Group: Strategic Growth & Capital Investments Driving Our Optimism!

The Cigna Group's fourth-quarter and full-year 2024 financial results reflect a mixed performance, with certain aspects showing growth while...

Baptista Research

Cigna Corporation: Specialty Market Position & Biosimilars Strategy Driving Our Bullishness! - Major Drivers

Cigna Group's third-quarter 2024 earnings was decent and revealed shareholders' net income of $739 million or $2.63 per share for the...

Baptista Research

Cigna Corporation: Is Their Investment in VillageMD Yielding The Expected Results? - Major Drivers

The Cigna Group has presented its first-quarter results for 2024, demonstrating financial strength and strategic advancements across its diverse...

Baptista Research

Omada Health IPO: Stayed Private For Longer, Modest Upside Potential

​Omada Health, a virtual healthcare provider for chronic conditions, set to IPO with expected price range of $18 to $20 per share, aiming for a...

Andrei Zakharov

The Cigna Group: Enhancing Their Virtual Care With The Acquisition Of Bright.md Technology Platform! - Major Drivers

The Cigna Group surpassed Wall Street's revenue and earnings expectations, maintaining the momentum for a sustained year in 2023. The company's...

Baptista Research

Omada Health, a virtual healthcare provider for chronic conditions, set to IPO with expected price range of $18 to $20 per share, aiming for a...