Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) is expected to gain from encouraging developments and focus on innovation.
Allscripts Healthcare Solutions, Inc. (MDRX): Free Stock Analysis Report
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McKesson Corporation (MCK): Free Stock Analysis Report
Nissan Chemical Industries, Ltd. (NNCHY): Free Stock Analysis Report
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Zacks Investment Research
However, in a year’s time, the Zacks Rank #2 (Buy) stock has slipped 24.9% compared with the industry’s 7.3% decline. The current level also compares unfavorably with the S&P 500 index’s 4.8% rally.
Let’s take a look at the factors which are favoring the stock.
Factors Driving the Stock
Lucrative Deals
Allscripts has inked a number of deals in recent times.
For instance, the company recently announced the availability of Apple (NASDAQ:AAPL) Health Records for Allscripts Sunrise, TouchWorks and Professional EHR (electronic health record) clients and their patients. This brings together hospitals, clinics and the existing Apple Health app for easier access to one’s health data from multiple providers at all times.
The latest provision is an addition to Allscripts’ vigorous patient engagement portfolio, which includes Allscripts FollowMyHealth, Allscripts’ patient engagement solution. With this opportunity, the company hopes to improve its foothold in the healthcare information technology market.
Moreover, Allscripts’ flagship Veradigm unit entered into a long-term partnership with Komodo Health with a view to advance healthcare research. The collaboration is expected to help Veradigm explore ways to reduce disease burden using an EHR system. (Read More: Allscripts' Veradigm Collaborates With Komodo Health)
Focus on Innovation
Management at Allscripts confirmed the achievement of innovation milestones in recent times. Of the most exclusive ones, the company unveiled Avenel, a next-generation cloud-based EHR that creates a community-wide shared patient record. Built on Microsoft (NASDAQ:MSFT) Azure, Avenel streamlines workflows and gets smarter with every use. The solution integrates clinicians' treatment patterns and provides reminders of preferences to facilitate faster documentation and decision-making.
Furthermore, Allscripts and Lyft (NASDAQ:LYFT), the fastest growing rideshare company in the United States, will be collaborating to incorporate non-emergency transportation directly into physicians' workflow.
Which Way Are the Estimates Heading?
For 2019, the Zacks Consensus Estimate for revenues stands at $1.79 billion, while the same for earnings per share is pegged at 48 cents.
For the third quarter, the Zacks Consensus Estimate for revenues stands at $450.3 million, while the same for earnings per share is pegged at 12 cents.
Other Key Picks
Other top-ranked stocks from the broader medical space are Nissan Chemical Corporation (OTC:NNCHY) , Straumann Holding AG SAUHF and McKesson Corporation (NYSE:MCK) , each currently carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Nissan Chemical has a long-term earnings growth rate of 10%.
Straumann Holding has a long-term earnings growth rate of 18%.
McKesson has a long-term earnings growth rate of 6.9%.
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Allscripts Healthcare Solutions, Inc. (MDRX): Free Stock Analysis Report
Straumann Holding AG (SAUHF): Free Stock Analysis Report
McKesson Corporation (MCK): Free Stock Analysis Report
Nissan Chemical Industries, Ltd. (NNCHY): Free Stock Analysis Report
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Zacks Investment Research
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