** Morningstar finds shares of Australia's Ramsay Health Care RHC.AX materially undervalued
** Investment research firm expects margins to rebound as reimbursements rise and wage pressures ease
** Investors skeptical as healthcare provider faces depressed margins amid higher staffing costs
** Morningstar's fair value estimate at A$54.00, a Street high
** 14 analysts rate the RHC stock 'hold' on average, with median PT at A$36.00, as per LSEG-compiled data
(Reporting by Nichiket Sunil in Bengaluru)
((Nichiket.Sunil@thomsonreuters.com))