Hill-Rom Meets Our Fiscal 2Q Expectations, but Shares Look Priced for Perfection
No-moat Hill-Rom reported fiscal second-quarter results that largely fell in line with our expectations. After sifting through the release, incorporating the firm's recently closed acquisition of privately held Voalte, and assessing management's updated guidance, we don't expect our $84 fair value estimate to change much.While the firm's performance has accelerated in recent quarters, our valuation concerns are in the sustainability of its revenue growth. Updated guidance suggests core revenue ...
Hill-Rom Holdings is a medical technology company. The company's reportable segments are: Patient Support Systems, which include a variety of frames and surfaces (such as medical surgical (med-surg) beds, intensive care unit beds, and bariatric patient beds), patient mobility solutions (such as lifts and other devices used to move patients), non-invasive therapeutic products and surfaces, and its information technologies and software solutions; Front Line Care, which includes its patient monitoring and diagnostics products and its respiratory health products; and Surgical Solutions, which include tables, lights, and pendants utilized within the surgical setting.
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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