Morningstar | PKI Updated Forecasts and Estimates from 27 Mar 2019
PerkinElmer's fourth-quarter performance mostly tracked our expectations. We do not anticipate any major changes to our fair value estimate after we update our assumptions, and we are leaving our no-moat rating intact. Management's adjusted 2019 EPS guidance of $4.00-$4.05 is consistent with our previously forecast $4.01. We think the outlook is realistic as we still think the company will benefit from synergistic opportunities along with broad end-market strength.We expect the company's diagnostic segment will continue to realize high-single-digit revenue growth. The segment experienced quarterly 13% organic revenue growth versus the year-ago period, driven by reproductive health and immunodiagnostic activity. We think the segment should continue to benefit from its Vanadis noninvasive prenatal testing system in Europe. Separately, we remain encouraged by the company's Euroimmun business, which witnessed 16% core revenue growth.
PerkinElmer's discovery and analytical solutions business aided overall results. The segment posted 5% core organic revenue growth compared with the year-ago period thanks to broadly healthy end markets. The segment realized mid-single-digit organic revenue growth in life sciences and applied markets, while the academic end market notably held high-single-digit growth. We think the life science business should continue to benefit from its imaging detection and informatics offerings, but we remain skeptical that the company's cannabis safety testing will bear significant fruit over time.
PerkinElmer is a provider of products, services and solutions for the diagnostics, life sciences and applied markets. The company operates in the following segments: Discovery and Analytical Solutions and Diagnostics. The company's Discovery and Analytical Solutions segment serves the life sciences and applied markets. The life sciences market consists of the life sciences research market and laboratory services market whereas the applied markets consist of environmental, food and industrial markets. In its Diagnostics segments, the company provides instruments, reagents, assay platforms, and software to hospitals, medical labs, clinicians, and medical research personnel to help improve the health of families.
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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