Nuance (NUAN) Management Change Signals Honed-In Focus on Growth - Analyst

March 13, 2014 12:22 PM EDT
Get Alerts NUAN Hot Sheet
Price: $15.73 -0.06%

Rating Summary:
    8 Buy, 9 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Oppenheimer maintains its Outperform rating and $22 price target on Nuance Communications (Nasdaq: NUAN) followng recent management changes. In an 8K filed on 3/13, NUAN announced that its EVP & GM of the Healthcare business Janet Dillione notified the company of her decision to step down from her position effective March 21, 2014.

Analyst Shaul Eyal commented, The announcement should not come as a surprise given the ongoing business model shift within the Mobile/Consumer and Healthcare business (45% of revenue). Dillione has grown the healthcare business to ~$1B; however, execution has been hard to come by in the previous few quarters. Investors should view this news positively as NUAN has made some management team changes recently (i.e. replacing Bill Nelson with Bill Robbins as head of Worldwide Sales). This announcement should signal to investors that NUAN wants to bring more focus and execution to re-accelerate top-line growth.

For an analyst ratings summary and ratings history on Nuance Communications click here. For more ratings news on Nuance Communications click here.

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