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Fly News Breaks for November 2, 2018
Nov 2, 2018 | 05:44 EDT
JPMorgan analyst Anne Samuel downgraded Allscripts to Neutral and lowered her price target for the shares to $12 from $16 following last night's Q3 results. The analyst thinks the company faces an "uphill battle" amid the difficult environment.
News For MDRX From the Last 2 Days
Dec 10, 2018 | 12:06 EDT
The averages were searching for direction in early trading as investors debated the conflicting signals coming from the administration and from media reports about the U. S... To see the rest of the story go to See Story Here
Dec 10, 2018 | 08:35 EDT
Allscripts announced that it has signed a definitive agreement to sell its interests in Netsmart Technologies. In March 2016, Allscripts contributed its homecare business to Netsmart, in exchange for the largest ownership stake in the company which has now become the largest technology company exclusively dedicated to behavioral health, human services and post-acute care. It is expected that this sale transaction will yield Allscripts net after-tax proceeds of approximately $525M or approximately $3 per fully diluted share. Allscripts anticipates closing the sale by the end of the Q4, after the satisfaction of customary closing conditions. Allscripts plans to use the net after-tax proceeds to repay long-term debt, invest in other growing areas of its business, and to opportunistically repurchase its outstanding common stock. Upon closing, total outstanding net debt would be reduced to approximately $500M. The improved leverage profile is expected to enable the company to continue investing in its core and surround solutions while also providing flexibility for additional capital returns to shareholders.