Sirtex FVE Unchanged After Full-Year Result; All Eyes on Upcoming Shareholder Vote
No-moat-rated Sirtex fell well short of our expectations in its fiscal-year results, with net profit after tax of AUD 41.5 million on revenue of AUD 218.8 million, compared with our forecast AUD 57 million and AUD 258 million, respectively, with management citing distractions associated with the various takeover bids in the second half for its underperformance. On a positive note, cash on the balance sheet grew a healthy 39% to AUD 69.9 million and no debt, reflecting disciplined control of cost...Sirtex Medical is a global life-sciences company based in Australia. Co. is engaged in developing and delivering effective oncology treatments using novel small particle technology. Co.'s main product is a targeted radioactive treatment for liver cancer called SIR-Spheres® Y-90 resin microspheres. SIR-Spheres Y-90 resin microspheres are a medical device used in interventional oncology and delivered to the liver via Selective Internal Radiation Therapy.
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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