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Here's Why You Should Add Allscripts to Your Portfolio Now

Zacks Equity Research

Allscripts Healthcare Solutions, Inc. MDRX 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.



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 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 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.

Allscripts Healthcare Solutions, Inc. Price and Consensus

Allscripts Healthcare Solutions, Inc. Price and Consensus

Allscripts Healthcare Solutions, Inc. price-consensus-chart | Allscripts Healthcare Solutions, Inc. Quote

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 NNCHY, Straumann Holding AG SAUHF and McKesson Corporation 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
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Nissan Chemical Industries, Ltd. (NNCHY) : Free Stock Analysis Report
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