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Allscripts (MDRX) Reports Solid Preliminary Q4 Revenues

Zacks Equity Research
·3-min read

Allscripts Healthcare Solutions, Inc. MDRX recently announced preliminary revenues for fourth-quarter 2021 on Jan 24.

The company is scheduled to release the Q4 and 2021 results on Feb 24, after the closing bell.

The company had reported its third-quarter earnings on Nov 4, 2021.

Highlights

As per the preliminary report, fourth-quarter 2021 revenues are estimated to be $390-$395 million. The Zacks Consensus Estimate of $386.9 million remains below the preliminary figure.

Apart from this, Allscripts’ management approved a new share repurchase program, wherein the company may purchase up to $250 million of its common stock. The new share repurchase program does not have a termination date and replaces the previous authorization to repurchase up to $350 million of common stock.

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In the fourth quarter of 2021, Allscripts repurchased shares worth $108 million, thereby fully utilizing all remaining authorization under the prior program.

Our Take

Allscripts’ robust preliminary fourth-quarter performance projections buoy our optimism. The company was selected by Next Level Urgent Care in November 2021 to improve connectivity, provide better electronic health record workflows and advance analytics to all of its locations. Further, Allscripts launched Guided Scheduling in Allscripts Practice Management in October 2021. This artificial intelligence scheduling application uses real-time provider, practice and industry data to optimize providers’ days. The system also looks at key clinical and operational metrics, thus enabling users to appropriately schedule each patient visit. These developments are likely to have boosted the company’s top line in the fourth quarter, raising our optimism.

In October, Allscripts’ business unit — Veradigm — inked a new agreement with CareMetx, wherein the latter will integrate its solutions and services directly into the Veradigm AccelRx specialty medication platform. This notable development in the to-be-reported quarter bodes well for the company.

Comparison With Peers

A few other stocks from the broader medical space that reported robust preliminary results and can be considered by investors are AMN Healthcare Services, Inc. AMN, Quidel Corporation QDEL and Masimo Corporation MASI.

AMN Healthcare announced preliminary financial results for fourth quarter 2021 on Jan 10. As per the preliminary report, fourth-quarter revenues are likely to be $1.35-$1.36 billion.

AMN Healthcare is scheduled to release Q4 and 2021 results on Feb 17. AMN’s earnings surpassed estimates in the trailing four quarters, the average surprise being 19.51%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Quidel announced preliminary revenues for fourth-quarter and full-year 2021 on Jan 6. As per the preliminary report, fourth-quarter 2021 revenues are estimated to be $633-$637 million whereas full-year revenues are projected to be $1,695-$1,699 million.

Quidel expects to release detailed financial results for the period and the full year in February. QDEL’s earnings surpassed estimates in two of the trailing four quarters, the average surprise being 119.53%.

Masimo announced preliminary financial results for full-year 2021 on Jan 11. As per the preliminary report, full-year product revenues are likely to be $1,235-$1,240 million, up 8-8.4% on a reported basis and up 7.3-7.7% at constant exchange rate from comparable figures in 2020.

Masimo is scheduled to release the Q4 and 2021 results on Feb 15 after the closing bell. MASI’s earnings surpassed estimates in the trailing four quarters, the average surprise being 5.38%.


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Allscripts Healthcare Solutions, Inc. (MDRX) : Free Stock Analysis Report
 
Masimo Corporation (MASI) : Free Stock Analysis Report
 
AMN Healthcare Services Inc (AMN) : Free Stock Analysis Report
 
Quidel Corporation (QDEL) : Free Stock Analysis Report
 
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