BioMerieux Posts Impressive Margin Expansion, Leading to Slight Increase in Our FVE
Following BioMerieux’s recent second-quarter revenue results, year-to-date full results showed slightly more margin expansion than we anticipated. We have increased our near-term margin assumptions slightly, which increases our fair value estimate to EUR 100 from EUR 96. A nearly 100-basis-point gross margin expansion from last year to 51.8% drove most of the operating margin improvement to 14.9% from 13.1% last year. As a result, management now anticipates operating profit at the high end of it...
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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