Leerink Partners Remains Bullish on Allscripts (MDRX) After Traveling with Management
- Wall St. lower as earnings from some big names disappoint
- Unusual 11 Mid-Day Movers 10/25: (CWEI) (NXTD) (EYES) Higher; (DPRX) (CRBP) (CALA) Lower (more...)
- General Motors (GM) Tops Q3 EPS by 28c
- Procter & Gamble (PG) Tops Q1 EPS by 5c
- DuPont (DD) Tops Q3 EPS by 14c; Boosts FY16 EPS Outlook; Says Continuing to Work with Regulators
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Leerink Partners reiterated an Outperform rating and $17.00 price target on Allscripts (NASDAQ: MDRX) after spending time with management. Management highlighted that since 2013 there have been ~40+ new Sunrise acute care footprint wins.
Analyst David Larsen commented, "We recently brought Seth Frank, Vice President of Investor Relations on the road to meet with investors. We come away from our meetings incrementally more positive on the stock. We were surprised to learn that since 2013 Allscripts has added ~40+ acute care hospital sites to its client base, and demand for Sunrise from international markets continues to be robust. Our model assumes a longer backlog-to-revenue conversion period, given a shift to more service-related deals and ~80% recurring revenue. We remain optimistic on Allscripts' relationship with Optum and the long-term growth potential of that deal. Maintain OP on MDRX."
Shares of Allscripts closed at $13.08 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: CommVault Systems (CVLT) PT to $62 at Mizuho Following Strong Q2
- UBS Remains Sidelined on Kindred Healthcare (KND) Ahead of 3Q Report
- Baxter (BAX) PT, Estimates Raised at Evercore ISI
Create E-mail Alert Related CategoriesAnalyst Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!