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Allscripts (MDRX) Q4 Bookings Likely to Hit Record Levels
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Allscripts Healthcare Solutions Inc. (MDRX - Free Report) recently provided a bullish update on bookings alongside providing a number of financial updates on fourth quarter 2016. The company expects record bookings exceeding $400 million annual growth of over 17%. The company also affirmed its financial guidance for the fourth quarter and issued an initial financial guidance for 2017.
However, in the last three months, the stock registered a loss of almost 19.43%, higher than the Zacks categorized Medical Information Systems sub-industry’s loss of roughly 18.60%. Average volume of shares traded over the last six months was remarkable at approximately 2,030.9K. The stock has a market cap of $1.98 billion.
The estimate revision trend nonetheless does not look promising with two estimates moving south over the past two months. Notably, the current fiscal year estimates for the stock decreased by a penny to 42 cents per share over the same time frame. However, the stock promises an earnings yield of 4.68% compared with the industry’s yield of only 2.21%.
Allscripts is scheduled to report fourth-quarter and full-year 2016 results on Feb 16. For the quarter, the company expects non-GAAP revenues between $420 million and $435 million, adjusted net EBITDA between $70 million and $80 million, and non-GAAP earnings per share between 14 cents and 16 cents. For 2017, the company expects non-GAAP revenues between $1.71 billion and $1.74 billion; consolidated adjusted EBITDA of $345 billion to $365 million; and non-GAAP EPS annualized growth in the range of 10% to 15%.
We believe that regular contract wins and strategic collaborations will consistently drive Allscripts’ top line. Further, the growing adoption of Allscripts’ products and services like the Sunrise platform, FollowMyHealth, Touchworks EHR, EPSi and dbMotion will drive market traction. Moreover, the new share repurchase program will boost earnings going forward.
Zacks Rank & Key Picks
Currently, Allscripts Healthcare has a Zacks Rank #4 (Sell).
Addus HomeCare has a long-term expected earnings growth rate of approximately 15%. Notably, the stock represents an impressive one-year return of 58.7%.
Cogentix Medical has posted a positive earnings surprise of 100% in the last reported quarter. Additionally, the company has a promising one-year return of almost 80.2%.
Penumbra has a long-term expected earnings growth rate of approximately 20%. Notably, the stock represents an impressive one-year return of almost 23%.
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Allscripts (MDRX) Q4 Bookings Likely to Hit Record Levels
Allscripts Healthcare Solutions Inc. (MDRX - Free Report) recently provided a bullish update on bookings alongside providing a number of financial updates on fourth quarter 2016. The company expects record bookings exceeding $400 million annual growth of over 17%. The company also affirmed its financial guidance for the fourth quarter and issued an initial financial guidance for 2017.
However, in the last three months, the stock registered a loss of almost 19.43%, higher than the Zacks categorized Medical Information Systems sub-industry’s loss of roughly 18.60%. Average volume of shares traded over the last six months was remarkable at approximately 2,030.9K. The stock has a market cap of $1.98 billion.
The estimate revision trend nonetheless does not look promising with two estimates moving south over the past two months. Notably, the current fiscal year estimates for the stock decreased by a penny to 42 cents per share over the same time frame. However, the stock promises an earnings yield of 4.68% compared with the industry’s yield of only 2.21%.
Allscripts is scheduled to report fourth-quarter and full-year 2016 results on Feb 16. For the quarter, the company expects non-GAAP revenues between $420 million and $435 million, adjusted net EBITDA between $70 million and $80 million, and non-GAAP earnings per share between 14 cents and 16 cents. For 2017, the company expects non-GAAP revenues between $1.71 billion and $1.74 billion; consolidated adjusted EBITDA of $345 billion to $365 million; and non-GAAP EPS annualized growth in the range of 10% to 15%.
We believe that regular contract wins and strategic collaborations will consistently drive Allscripts’ top line. Further, the growing adoption of Allscripts’ products and services like the Sunrise platform, FollowMyHealth, Touchworks EHR, EPSi and dbMotion will drive market traction. Moreover, the new share repurchase program will boost earnings going forward.
Zacks Rank & Key Picks
Currently, Allscripts Healthcare has a Zacks Rank #4 (Sell).
Better-ranked stocks in the broader medical sector include Addus HomeCare Corporation (ADUS - Free Report) , Cogentix Medical, Inc. (CGNT - Free Report) and Penumbra Inc. (PEN - Free Report) . All the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Addus HomeCare has a long-term expected earnings growth rate of approximately 15%. Notably, the stock represents an impressive one-year return of 58.7%.
Cogentix Medical has posted a positive earnings surprise of 100% in the last reported quarter. Additionally, the company has a promising one-year return of almost 80.2%.
Penumbra has a long-term expected earnings growth rate of approximately 20%. Notably, the stock represents an impressive one-year return of almost 23%.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>