In today’s briefing:
- Cardinal Health: Expanding Acquisitions Portfolio With Specialty Networks & Other Major Drivers
- Zydus Lifesciences (ZYDUSLIF IN): Strong India Momentum; Q3 Net Profit Jumps 27%; Buyback Approved
- Bio-Techne Corporation: A Tale Of Resilience Amid Economic Challenges! – Major Drivers
- Hologic Inc: Fortifying Market Position Through Innovation & Strategic Acquisitions! – Major Drivers
- Quest Diagnostics: Continued Investment in New Technologies and Automated Solutions! – Major Drivers
Cardinal Health: Expanding Acquisitions Portfolio With Specialty Networks & Other Major Drivers
- Cardinal Health has recently announced its financial results for the second quarter of fiscal year 2024.
- CEO Jason Hollar and CFO Aaron Alt expressed satisfaction with the progress the company has made, demonstrating strong profit growth in both segments and expected growth for 7% to 9% in segment profit for fiscal 2024.
- Cardinal Health’s acquisition of Specialty Networks is seen as a key step in enhancing the company’s specialty growth strategy.
Zydus Lifesciences (ZYDUSLIF IN): Strong India Momentum; Q3 Net Profit Jumps 27%; Buyback Approved
- Zydus Lifesciences Ltd (ZYDUSLIF IN) reported 16% YoY and 7% QoQ growth in India formulation business revenue in Q3FY24 on the back of healthy volume growth and new product launches.
- Profitability improvement continued, with Q3FY24 improving 200 basis points YoY to 24.5%. Net profit surged 27% YoY.
- The Board approved INR6 billion buyback, representing 0.59% of total outstanding equity shares at a price of INR1005 per share (25% premium to last closing price) via tender offer route.
Bio-Techne Corporation: A Tale Of Resilience Amid Economic Challenges! – Major Drivers
- Bio-Techne, amidst challenging macroeconomic conditions, reported an organic revenue decline of 2% for the second quarter of the fiscal year 2024.
- The healthcare company’s earnings were impacted by various headwinds including a cautious biopharma spending environment, a tougher macroeconomic climate in China, and lowered demand from OEM customers.
- Bio-Techne’s core portfolio, however, continued to drive the company’s long-term growth potential with a 7% average growth rate over the last decade.
Hologic Inc: Fortifying Market Position Through Innovation & Strategic Acquisitions! – Major Drivers
- Hologic reported its fiscal Q1 2024 results, demonstrating strong financial performance with total revenue reaching $1.01 billion, above the high end of the company’s guidance.
- In spite of four fewer selling days than in Q1 2023, the firm achieved total organic revenue growth, excluding COVID-19, of 5.2%.
- When adjusted for the fewer selling days, estimated total company organic revenue growth excluding COVID-19 was in the high single digits.
Quest Diagnostics: Continued Investment in New Technologies and Automated Solutions! – Major Drivers
- Quest Diagnostics Incorporated’s fourth quarter and full year 2023 earnings call highlighted the company’s strategy to focus on top-line growth across core customer channels and increase profitability.
- In 2023, the company delivered 7% revenue growth in its base business and achieved its earnings commitments as it shifted away from COVID-19 testing.
- Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.
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