RBC Capital analysts provided their views on Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) following the company’s virtual investor day.
Given the company’s H1/22 sale of its hospital/large practice businesses, which represented the majority of revenue and around half of 2021 EBITDA, the company hosted an investor day to educate the market on its remaining/go-forward business–Veradigm.
Along with a detailed look at each component and respective growth drivers, management also reaffirmed its 2022 guidance provided with the divestiture announcement in March.
Analysts at RBC Capital said they were encouraged by the heightened focus on the company’s higher-growth offerings and confident it has the balance sheet to support it. The analysts maintained their outperform rating and $22 price target on the company’s shares.