Virtus Reports Better-Than-Expected IVF Cycles, Despite Market Challenges; Maintaining FVE
We reiterate our AUD 6.50 per share fair value estimate for no-moat Virtus Health after the company reported full-year results slightly below expectations. Net profit after tax attributable to ordinary equityholders of AUD 28.1 million trailed our forecast for AUD 33.1 million, with the difference mostly driven by lower top-line revenue from the core Australian business, and higher-than-expected labour costs during the period stemming from acquisitions. That said, we’re encouraged that Australia...Virtus Health is a global healthcare company engaged in the provision of healthcare services which included fertility services, medical day procedure services and medical diagnostic services. As an Assisted Reproductive Services provider in Australia and Ireland with a presence in Singapore, Co. provides patients with access to some of the clinical and scientific capabilities in fertility treatment as well as assisted reproductive technologies.
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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