Strategic Expansion in Anatomical Pathology Positive, Maintain FVE of AUD 25.50
We transition coverage in narrow-moat Sonic Healthcare and maintain our fair value estimate of AUD 25.50. We continue to view Sonic’s strategic expansion into the high growth anatomical pathology market as positive, and the recently completed Aurora acquisition gives the company a good foothold in the very large U.S. market. Fiscal 2019 EBITDA guidance was upgraded to 6% to 8% constant currency growth from 3% to 5% to factor in the acquisition, in line with our forecast 6.4% gain. At the current...Sonic Healthcare is involved in the provision of medical diagnostic services and the provision of administrative services and facilities to medical practitioners. Co. provides specialized pathology/clinical laboratory and diagnostic imaging services to clinicians, hospitals, community health services, and their patients. Co.'s segments are comprised of: Laboratory, which provides Pathology/clinical laboratory services in Australia, New Zealand, the U.K., the U.S., Germany, Switzerland, Belgium and Ireland; Imaging, which provides diagnostic imaging services in Australia; and Other, which Includes medical center operations and occupational health services.
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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