Allscripts Healthcare Solutions, Inc. (MDRX Quick QuoteMDRX - Free Report) is expected to gain from encouraging developments and focus on innovation.
 

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.

 

 

 

 

Allscripts has inked a number of deals in recent times.

 

For instance, the company recently announced the availability of Apple 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)

 

 

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 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, the fastest growing rideshare company in the United States, will be collaborating to incorporate non-emergency transportation directly into physicians' workflow.

 

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 top-ranked stocks from the broader medical space are Nissan Chemical Corporation (NNCHY Quick QuoteNNCHY - Free Report) , Straumann Holding AG and McKesson Corporation (MCK Quick QuoteMCK - Free Report) , 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%.

 

 

Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.

 

This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.