ResMed's execution continues to impress, and innovation remains key to growth prospects.
We raise our fair value estimate for narrow moat-rated ResMed slightly to USD 78 per share due to time value of money considerations, which equates to AUD 10 per CDI, based on an Australian dollar/U.S. dollar exchange rate of 0.76. Our fiscal 2017 forecasts remain unchanged following third-quarter results which met our expectations. At current levels, the stock is trading at a 7% discount to our intrinsic assessment and therefore undervalued, in our opinion.Group revenue in the quarter, includi...
ResMed is a holding company. Through its operating subsidiaries, the company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software solutions that diagnose, treat and manage respiratory disorders including sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease and other chronic diseases. The company has two operating segments: Sleep and Respiratory Care and Software-as-a-Solutions. The company's portfolio of products includes devices, diagnostic products, mask systems, headgear and other accessories, dental devices, portable oxygen concentrators and cloud-based software informatics 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.
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