Smooth Transition Ahead as Ramsay Appoints New CEO From Within the Ranks
We retain our AUD 87 per share fair value estimate for narrow moat-rated Ramsay Health Care following the appointment of its Chief Operating Officer, Craig McNally, as the new Managing Director and CEO effective July 3, 2017. McNally succeeds Chris Rex, who announced his upcoming retirement in February. At current levels, we consider the stock significantly undervalued.We view Mr McNally as a strong choice given his 29-year tenure with the firm, spanning various roles including Head of Global S...
Ramsay Health Care is a global hospital group, which is engaged in providing health care services. Co.'s facilities cater for a range of health care needs from day surgery procedures to complex surgery, as well as psychiatric care and rehabilitation. As of June 30, 2016, Co. operated 223 hospitals and day surgery facilities across Australia, the U.K., France, Indonesia, Malaysia and Italy.
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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