Fiscal Stimulus-Led Inflation Potentially Positive for Translational Gain; Sonic Remains Undervalued
The election of Donald Trump as U.S. president coupled with the Republicans retaining majorities in Congress adds some uncertainty for healthcare stocks with exposure to the United States. However, we see little in Trump’s proposals to change our narrow moat rating for Sonic Healthcare, which is based on the scale of the group's Australian operations.ÂWe maintain our AUD 24 fair value estimate and see the shares of Sonic Healthcare as undervalued, trading at a 12% discount to our intrinsic asse...
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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