Analyst Worried Nuance (NUAN) Will Miss FY13 Healthcare Revenue Target

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Shares of Nuance (NASDAQ: NUAN) traded lower on Friday following after the company released disappointing Q1 results and guidance. Commenting on developments, analyst Greg Dunham of Goldman Sachs highlighted slowing in heathcare.

"The slowing organic healthcare growth illustrate a stronger headwind from reduced transcription revenues with the adoption of EMR systems and Dragon," said Dunham. "While Clinical Documentation solutions (ICD-9 to ICD-10) should help offset the sluggishness, we see increased risk that the company doesn't meet its goal of $1bn in healthcare revenue in FY13."

Goldman Sachs has a Neutral rating on Nuance Communications with a modified price target of $22.00 (from $24.00).

For an analyst ratings summary and ratings history on Nuance Communications (NASDAQ: NUAN) click here. For more ratings news on Nuance Communications click here.

Shares of Nuance Communications closed at $24.55 yesterday, with a 52 week range of $19.33-$31.15.

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