Smith & Nephew Still Working Toward Faster Growth; Our Fair Value Remains the Same
Aside from continued strength in sports medicine and PICO, Smith & Nephew finished 2016 with lackluster performance and we’re leaving our fair value unchanged for now. We’ve been fans of management’s strategic push to shift the firm’s product portfolio toward higher-growth markets and it seems to be paying off with the addition of Arthrocare to solidify Smith & Nephew’s footprint in joint repair. While the firm has made progress here—management estimates roughly 50% of revenue is now co...
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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