Leerink Partners Maintains Market perform on Quality Systems (QSII) Following Analyst Day
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Rating Summary:
4 Buy, 15 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 9 | New: 12
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Leerink Partners maintain a Market Perform and $17.00 price target on Quality Systems (NASDAQ: QSII) following an analyst day in NYC. Analyst David Larsen believes that QSII is appropriately focused on key growth areas, and is more optimistic around new product development pipeline.
Larsen commented, "Following QSII's analyst day in NYC, we are more optimistic that QSII is seeing stabilization across its business segments, with recurring revenue now at 83% of total. We believe the new management team will help QSII evolve into a more nimble company, and we believe QSII is appropriately focused on key growth areas, including: RCM, population health management, a cloud-based clinical and financial platform (NextGen Now), and greater ease of use in its core products. While we come away incrementally more positive on the company, we still believe there is execution risk around QSII's population health management strategy, and the new NextGen Now platform is still a fairly new product. Given fairly high growth consensus EPS estimates, we believe upside may be limited over the next 12 months. Also, while QSII is taking the right strategic steps in our view, new products and solutions may take time to gain significant traction. Maintain MP and $17 PT."
For an analyst ratings summary and ratings history on Quality Systems click here. For more ratings news on Quality Systems click here.
Shares of Quality Systems closed at $15.95 yesterday.
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