No Major Surprises in Sonic Healthcare’s Interim Result; Guidance Maintained
Narrow-moat Sonic Healthcare posted an interim result that generally met our expectations, despite slight weakness within the Australian pathology division. We maintain our AUD 24 per share fair value estimate, implying the shares are undervalued at current levels, and retain the stock on our Best Ideas list. Management reaffirmed guidance for fiscal 2017 revenue growth of 5% and underlying EBITDA growth of 6% in constant-currency terms.Highlights included accelerating 3.3% organic growth in th...
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.
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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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