Stable, high-quality Australian diagnostic earnings fund increasingly meaningful offshore growth.
We retain our fair value estimate for narrow-moat Sonic Healthcare at AUD 24 per share following the government's decision to boost healthcare funding by AUD 1 billion and reinstate indexation of Medicare Rebates for general practitioners in yesterday's federal budget. This is positive for Sonic’s medical centre division, given that 70% of services are bulk-billed and therefore linked to Medicare funding. Nonetheless, the medical centre division is overshadowed by Sonic’s international pathology...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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