UPDATE - UBS Downgraded Allscripts (MDRX) to Neutral; Surprise! Miss on All Fronts, and Mgmt Goes
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Price: $6.81 --0%
Rating Summary:
8 Buy, 19 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
8 Buy, 19 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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UPDATE - UBS downgraded Allscripts (NASDAQ: MDRX) from Buy to Neutral. PT Dropped from $26 to $10.
Analyst, Stephen Shankman, said, "Unexpectedly, MDRX announced 1Q12 results last night which missed UBSe and consensus targets by a wide margin. 1Q12 bookings of $195 mil were 20% below our estimate, leading to $366 mil of revenue (UBSe: $391 mil) and EPS of $0.12, or half the consensus EPS forecast. In 1Q, Allscripts’ existing and potential clients pulled back on purchases, choosing to wait for product enhancements and tighter integration. Compounding lower sales were greater invest m.ents in R&D and SG&A and a sales reorganization, all of which negatively impacted results."
"In light of these new forecasts, GM pressure and increasing R&D spend, we have reduced our 2012e / 2013e EPS to $0.77 / $0.92 from $1.09 / $1.28."
To see more ratings on MDRX, Click Here
Analyst, Stephen Shankman, said, "Unexpectedly, MDRX announced 1Q12 results last night which missed UBSe and consensus targets by a wide margin. 1Q12 bookings of $195 mil were 20% below our estimate, leading to $366 mil of revenue (UBSe: $391 mil) and EPS of $0.12, or half the consensus EPS forecast. In 1Q, Allscripts’ existing and potential clients pulled back on purchases, choosing to wait for product enhancements and tighter integration. Compounding lower sales were greater invest m.ents in R&D and SG&A and a sales reorganization, all of which negatively impacted results."
"In light of these new forecasts, GM pressure and increasing R&D spend, we have reduced our 2012e / 2013e EPS to $0.77 / $0.92 from $1.09 / $1.28."
To see more ratings on MDRX, Click Here
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