Offshore Pathology Business Booms for Sonic Healthcare; Raising Fair Value Estimate to AUD 24
Narrow-moat-rated Sonic Healthcare reported fiscal 2016 EBITDA before nonrecurring items of AUD 876 million, representing a 20% increase over the prior period and 4% above our expectations. Reported net profit after tax was AUD 451 million on group revenue of AUD 5,052 million, up 30% and 20%, respectively. These were also higher than our forecasts, driven primarily by the strong performance of the offshore pathology operations. EPS was AUD 1.09, up 27% over the prior period and 5% above consens...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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