AbbVie Posts In-Line Q3 and Shares Look Undervalued, Despite Looming Humira Biosimilar Competition
AbbVie reported third-quarter results largely in line with both our and consensus expectations, and we don’t expect any major changes to our $73 fair value estimate. We still see the stock as undervalued, supported by a solid pipeline, despite aggressive projected declines for immunology drug Humira following biosimilar competition. Quarterly sales of Humira represented over 60% of total revenue, and this high concentration of profits and expected declines drives our narrow moat rating, a rarity...Planet Fitness is a holding company. Through its subsidiries, the company is engaged as a franchisor and operator of fitness centers. The company's stores include co-branded cardio equipment, free weights, strength machines, a workout area, a small retail area and a drink cooler. The company operates and manages its business in three business segments: Franchise, which includes operations related to its franchising business in the U.S., Puerto Rico, Canada, the Dominican Republic and Panama; Corporate-owned stores, which includes operations with respect to all corporate-owned stores throughout the U.S. and Canada; and Equipment, which includes the sale of equipment to franchisee-owned stores in the U.S.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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