The current pandemic healthcare crisis deserves credit for speeding up a number of seemingly inevitable transitions – a rapid evolution – that will come to define the nature of culture and the business economy, as well as the stock market, going forward for years and years.
One of these transitions is clear: the critical role that healthcare-related data analytics will play in the current and post-pandemic world.
With that in mind, we take a look at a handful of stocks that are active and growing forces in the space, including: Health Catalyst Inc (NASDAQ:HCAT), Allscripts Healthcare Solutions Inc (NASDAQ:MDRX), Progressive Care Inc (OTCMKTS:RXMD), Cerner Corporation (NASDAQ:CERN), and FactSet Research Systems Inc. (NYSE:FDS).
Health Catalyst Inc (NASDAQ:HCAT) frames itself as a leading provider of data and analytics technology and services to healthcare organizations, and is committed to being the catalyst for massive, measurable, data-informed healthcare improvement.
Its customers leverage the cloud-based data platform—powered by data from more than 100 million patient records and encompassing trillions of facts—as well as its analytics software and professional services expertise to make data-informed decisions and realize measurable clinical, financial and operational improvements. Health Catalyst envisions a future in which all healthcare decisions are data informed
Health Catalyst Inc (NASDAQ:HCAT) just recently announced a long-term strategic partnership with Northwell Health to transform the quality of patient care by using data and analytics to better anticipate and respond to the evolving needs of patients, providers and payers in today’s rapidly evolving healthcare ecosystem.
According to the company’s release, in this partnership, Health Catalyst will provide solutions to allow for increased cloud-based reliance on data and analytics, while sharing insights and best practices from a decade of support to hundreds of other healthcare clients. This will accelerate greater efficiency in data mapping and data storage to/with the Electronic Medical Record (EMR) and the affordable emergence of an enterprise solution for meaningful and measurable clinical, financial and operational improvements. The solutions will be used across the Northwell Health enterprise, which includes the Feinstein Institute and Donald and Barbara Zucker School of Medicine at Hofstra.
The stock has suffered a bit of late, with shares of HCAT taking a hit in recent action, down about -5% over the past week. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -14%.
Health Catalyst Inc (NASDAQ:HCAT) managed to rope in revenues totaling $43.3M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 17.5%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($353.1M against $50.2M).
Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) bills itself as a company that provides information technology solutions and services to healthcare organizations in the United States, Canada, and internationally. The company also just announced a new deal with MSFT that we will cover below.
MDRX offers electronic health records (EHR), connectivity, private cloud hosting, outsourcing, analytics, patient engagement, clinical decision support, and population health management solutions. The company operates in two segments, Clinical and Financial Solutions and Population Health.
Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) recently announced Carol Zierhoffer has been named to the Board of Directors of Allscripts (NASDAQ: MDRX) Healthcare Solutions, Inc. A former executive at engineering and construction company Bechtel Corporation, Zierhoffer has more than 30 years of experience in information technology. She will serve as a member of the Audit Committee of the Board.
Most recently and until her retirement in October 2019, Zierhoffer served as the Senior Vice President and Global Chief Information Officer at Bechtel, where she oversaw the company’s Global Information Systems & Technology organization. Zierhoffer’s responsibilities included Bechtel’s business and technology solutions, cybersecurity, infrastructure and operations, innovation, emerging technology and knowledge management for the company’s business lines and projects worldwide.
Even in light of this news, MDRX has had a rough past week of trading action, with shares sinking something like -4% in that time. That said, chart support is nearby and we may be in the process of constructing a nice setup for some movement back the other way. Shares of the stock have powered higher over the past month, rallying roughly 20% in that time on strong overall action.
Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) pulled in sales of $406.2M in its last reported quarterly financials, representing top line growth of -8.6%. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($205.2M against $1.1B, respectively).
Progressive Care Inc (OTCMKTS:RXMD) promulgates itself as “a personalized healthcare services and technology company”. Do a little digging and you find this is a company that has been showing strong top and bottom-line growth in the regional pharmacy services space, but is now increasingly set to expand operations into telemedicine, ecommerce, and a range of scalable growth strategies while maintaining its footprint in the Florida pharmacy services space.
The company is a recent upstart in the healthcare data analytics space, with the establishment of its ClearMetRx subsidiary, with has begun servicing a growing list of clients, and working to expand the company’s booming 340B admin business segment.
Progressive Care Inc (OTCMKTS:RXMD) just announced particularly strong data in its July performance report, with monthly gross sales across all locations during the month of July totaled $3.62 million, representing monthly sequential growth of 8% compared to June 2020, and 7% year-over-year growth compared to July 2019. In addition, 340B claim processing from 340B covered entities produced roughly $473K in revenue in July 2020, up 106% on a monthly sequential basis. This includes ClearMetRx third party administrator fees of over $146,000.
“July was another strong month for Progressive Care, featuring the continued emergence of our 340B strategy and a strong contribution from our ClearMetRx data analytics subsidiary,” commented Alan J. Weisberg, Interim CEO and Chairman of the Board of Progressive Care.
If you’re long this stock, then you’re liking how the stock has responded, up over 25-30% in the past 60 days.
Progressive Care Inc (OTCMKTS:RXMD) generated sales of $9.1M, according to information released in the company’s most recent quarterly financial report. That adds up to a monthly year-over-year growth rate of 62% on the top line as of the Company’s last monthly performance update.
Cerner Corporation (NASDAQ:CERN) provides health care information technology solutions and tech-enabled services in the United States and internationally. The company offers Cerner Millennium architecture, a person-centric computing framework, which includes clinical, financial, and management information systems that allow providers to access an individual’s electronic health record (EHR) at the point of care, and organizes and delivers information for physicians, nurses, laboratory technicians, pharmacists, front- and back-office professionals, and consumers.
It also provides HealtheIntent platform, a cloud-based platform to aggregate, transform, and reconcile data across the continuum of care; and CareAware, an EHR agnostic platform that facilitates connectivity of health care devices to EHRs. In addition, the company offers a portfolio of clinical and financial health care information technology solutions, as well as departmental, connectivity, population health, and care coordination solutions.
Cerner Corporation (NASDAQ:CERN) recently announced it has joined non-profit Testing for America and others, including the Thurgood Marshall College Fund (TMCF) and The United Negro College Fund (UNCF), to support Historically Black Colleges and Universities’ (HBCUs) efforts to offer rapid, consistent and affordable COVID-19 testing for students, faculty and staff. Testing for America and its collaborators are helping these academic institutions develop comprehensive reopening safety strategies and linking them to lab partners and other support in the hopes of helping them safety return to classes.
According to the company’s release, the effort to support HBCUs comes as communities of color around the nation are disproportionately impacted by the economic and health effects of the novel coronavirus. Testing of everyone on campus is one tool in an overall safety plan to help identify and contain the virus, often spread by asymptomatic carriers, and to help the campuses of HBCUs, which will serve a vital role in our nation’s recovery.
Even in light of this news, CERN hasn’t really done much of anything over the past week, with shares logging no net movement over that period. CERN shares have been relatively flat over the past month of action, with very little net movement during that period.
Cerner Corporation (NASDAQ:CERN) generated sales of $1.3B, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of -5.8% on the top line. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($441M against $1B, respectively).
FactSet Research Systems Inc (NYSE:FDS) trumpets itself as a company that provides integrated financial information and analytical applications to the investment and corporate communities in the United States, Europe, and the Asia Pacific.
The company delivers insight and information through the workflow solutions of research, analytics and trading, content and technology solutions, and wealth. It serves portfolio managers, investment research professionals, investment bankers, risk and performance analysts, and wealth advisors.
FactSet Research Systems Inc (NYSE:FDS) just recently announced that its Board of Directors approved a regular quarterly cash dividend of $0.77 per share.
The cash dividend will be paid on September 17, 2020, to holders of FactSet’s common stock at the close of business on August 31, 2020.
Even in light of this news, FDS hasn’t really done much of anything over the past week, with shares logging no net movement over that period. FDS shares have been relatively flat over the past month of action, with very little net movement during that period. FactSet Research Systems Inc (NYSE:FDS) managed to rope in revenues totaling $374.1M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 2.6%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($480.3M against $247.3M).
