Voice recognition specialist Nuance Communications (NASDAQ:NUAN) has pulled back from its all-time highs near $30 set in early 2012. Much of that optimism was related to its relationship with Apple (NASDAQ:AAPL), providing the speech recognition engine powering Apple's Siri. Now that the Apple storyline has simmered down, Nuance investors should focus on the core health care business and the opportunities there.

Nuance continues to grow its deferred revenue balance, which is a good sign for its subscription business. CEO Paul Ricci's compensation is a little high, but the executive has arguably earned his keep by leading the company for nearly 15 years.

In the following video, Fool contributor Evan Niu, CFA, and Eric Bleeker, CFA, discuss Nuance's current valuation.

Eric Bleeker, CFA, has no position in any stocks mentioned. Fool contributor Evan Niu, CFA, owns shares of Apple. The Motley Fool recommends Apple, Nuance Communications, Riverbed Technology, and VMware. The Motley Fool owns shares of Apple, Nuance Communications, Riverbed Technology, and VMware. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.