Final Rule on Medicare Pricing Fails to Shift Our FVE for Quest Diagnostics
Following the final rule on changes to the Medicare Clinical Lab Fee Schedule (driven by the Protecting Access to Medicare Act), we’re holding steady on our $105 fair value estimate for Quest Diagnostics and see no changes to the firm's narrow economic moat. Although the impact of cuts in 2018 was slightly less than we’d originally anticipated, the remaining cuts beyond 2018 were largely consistent with our projections and the small adjustment we made to 2018 was immaterial to our intrinsic valu...Quest Diagnostics provides diagnostic information services. The company's diagnostic information segment provides information based on the menu of routine, non-routine and clinical testing and anatomic pathology testing, and other diagnostic information services. The company's testing capabilities, includes services for the predisposition, diagnosis, treatment and monitoring of cancers and other diseases, and provides tests in several fields, including endocrinology, immunology, neurology and oncology. The company's diagnostic solutions provides risk assessment services for the life insurance industry, as well as provides healthcare organizations and clinicians health information technology solutions.
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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