Operational Issues Resurface for Cerner as the Competitive Dynamics for the HCIT Space Shift
We are reiterating our $63 fair value estimate for Cerner despite the firm’s operating issues resurfacing during the quarter. We believe the firm’s sticky client book, top-tier product portfolio, and strong reputation within the healthcare market should drive long-term economic profitability. Bookings and backlog also remain robust and point to a solid pipeline of business. However, growth is slowing materially for the Healthcare IT player as the firm’s management team once again missed its own ...Cerner designs, develops, markets, installs, hosts and supports health care information technology, health care devices, hardware and content solutions for health care organizations and consumers. The company also provides a range of services, including implementation and training, remote hosting, operational management services, revenue cycle services, support and maintenance, transaction processing, employer health centers, employee wellness programs and third party administrator services for employer-based health plans. The company has two operating segments: Domestic, which includes business activity in the United States; and International, which includes business activity outside the United States.
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.
We have operations in 27 countries.
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