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>In terms of positive outcomes, Waters Corporation reported another transformative year, demonstrating its resilience and ability to adapt effectively amidst a backdrop of dynamic market conditions.</li><li>Various innovative products were launched throughout the year, such as the Alliance is next-generation LC platform, building on the successful top line growth delivered in previous years.</li><li>The integration of Wyatt Technology into its portfolio represents a strategic move, bringing with it a new avenue for value creation for shareholders and opening up access to high growth markets.</li></ul>

In terms of positive outcomes, Waters Corporation reported another transformative year, demonstrating its resilience and ability to adapt effectively amidst a backdrop of dynamic market conditions.Various innovative products were launched throughout the year, such as the Alliance is next-generation LC platform, building on the successful top line growth delivered in previous years.The integration of Wyatt Technology into its portfolio represents a strategic move, bringing with it a new avenue for value creation for shareholders and opening up access to high growth markets.

Waters Corporation: How Long Will The Upside From The Continuation of High-Level Trends and Geographical Growth Last? - Major Drivers

<ul><li>Waters Corporation delivered a mixed result in the recent quarter, with revenues below market expectations but surpassed the analyst consensus regarding earnings.</li><li>Despite a modest overall sales growth of less than 1%, the organic constant currency sales witnessed a 4% decline in the third quarter.</li><li>Challenges in the Chinese market, surpassing expectations, led to sales landing at the lower end of the guidance.</li></ul>

Waters Corporation delivered a mixed result in the recent quarter, with revenues below market expectations but surpassed the analyst consensus regarding earnings.Despite a modest overall sales growth of less than 1%, the organic constant currency sales witnessed a 4% decline in the third quarter.Challenges in the Chinese market, surpassing expectations, led to sales landing at the lower end of the guidance.

<ul><li>Waters Corporation delivered an all-around beat in its most recent quarterly result, with organic constant currency growth of 3%.</li><li>Their organic performance in constant currency was driven by excellent growth in the Industrial segment and the academic and governmental sectors.</li><li>We give Waters Corporation a 'Hold' rating with a revised target price.</li></ul>

Waters Corporation delivered an all-around beat in its most recent quarterly result, with organic constant currency growth of 3%.Their organic performance in constant currency was driven by excellent growth in the Industrial segment and the academic and governmental sectors.We give Waters Corporation a 'Hold' rating with a revised target price.

Waters Corporation: New Line of SEC Columns & Other Major Developments

Equity Capital Markets

<ul><li>Waters Corporation delivered a disappointing set of results as the company was unable to meet the revenue expectations as well as earnings expectations of Wall Street.</li><li>Waters Corporation continues to invest in high-growth adjacencies and has a pending acquisition of Wyatt.</li><li>Waters Corporation is focused on managing the challenges and maintaining its growth trajectory, emphasizing customer needs and market opportunities.</li></ul>

Waters Corporation delivered a disappointing set of results as the company was unable to meet the revenue expectations as well as earnings expectations of Wall Street.Waters Corporation continues to invest in high-growth adjacencies and has a pending acquisition of Wyatt.Waters Corporation is focused on managing the challenges and maintaining its growth trajectory, emphasizing customer needs and market opportunities.

Waters Corporation: Can It Weather the Storm in China? – Key Drivers

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>
<a href="https://www.smartkarma.com/entities/takara-bio-inc" target="_blank" data-smartkarma-citation="entities:10766:1" rel="noopener">Takara Bio Inc (4974 JP)</a> is anticipating 32% YoY decline in revenue to ¥53B in FY24. Both operating and net profits are expected to decline more than 60% YoY in FY24.</li>
<li>The company has formulated the medium-term management plan 2026 for the three-year period ending in FY26, with the final-year quantitative targets being operating profit of ¥15 billion and ROE 8%.</li>
<li>Considering Takara Bio’s FY24 operating profit guidance of ¥8B, FY26 target seems to be aggressive and difficult to achieve.</li>
</ul>



Takara Bio Inc (4974 JP) is anticipating 32% YoY decline in revenue to ¥53B in FY24. Both operating and net profits are expected to decline more than 60% YoY in FY24.
The company has formulated the medium-term management plan 2026 for the three-year period ending in FY26, with the final-year quantitative targets being operating profit of ¥15 billion and ROE 8%.
Considering Takara Bio’s FY24 operating profit guidance of ¥8B, FY26 target seems to be aggressive and difficult to achieve.


Takara Bio (4974 JP): Corona Cliff Set to Jeopardize FY24 Financial; Formulated FY26 Management Plan

United States

Waters Corporation provides high-performance liquid chromatography products and services.  The Company distributes its products worldwide to a wide range of industries such as pharmaceuticals, chemicals, and environmental testing. Waters also designs, manufactures, sells and services thermal analysis, rheometry and calorimetry instruments and related software products.

Waters Corp (WAT US)

Waters Corporation: How Long Will The Upside From The Continuation of High-Level Trends and Geographical Growth Last? - Major Drivers

In terms of positive outcomes, Waters Corporation reported another transformative year, demonstrating its resilience and ability to adapt...

Baptista Research

Waters Corporation: Struggling Sales

Waters Corporation delivered a mixed result in the recent quarter, with revenues below market expectations but surpassed the analyst consensus...

Baptista Research

Waters Corporation: New Line of SEC Columns & Other Major Developments

Waters Corporation delivered an all-around beat in its most recent quarterly result, with organic constant currency growth of 3%. Their organic...

Baptista Research

Waters Corporation: Can It Weather the Storm in China? – Key Drivers

Waters Corporation delivered a disappointing set of results as the company was unable to meet the revenue expectations as well as earnings...

Baptista Research

Takara Bio (4974 JP): Corona Cliff Set to Jeopardize FY24 Financial; Formulated FY26 Management Plan

Takara Bio is anticipating 32% decline in revenue in FY24. Both operating and net profits are expected to decline 60%+ in FY24. The company aims to...

Tina Banerjee