Per Briefing.com:
- Reports Q4 (Mar) earnings of $0.45 per share, $0.04 worse than the Thomson Reuters consensus of $0.49; revenues rose 19.3% year/year to $78.5 mln vs the $78.6 mln consensus. The fourth quarter results were negatively impacted by amortization of acquired intangibles and transaction costs related to the acquisition of Opus Healthcare Solutions. Also impacting the results were decreases in collections from the co's revenue cycle management division due to record snowfall across the East Coast and seasonality.
More than the miss, the chart has been hurt by the selloff (like many other stocks) but today's earnings report pushed it down below the 200 day moving average. With the same caveat I will use for any selling... (i.e. if the market goes on a V shaped bounce all sales will be seen as foolish) I am going to close the last of this position out today around $57.50 (about a 10.5%) loss. After all the selling earlier in the month, we only had a 0.5% exposure remaining so no big deal.
I'll continue to look for new names to redeploy into who have less headwinds in their charts.
Quality Systems, Inc. engages in the development and marketing of healthcare information systems in the United States. Its system automates various aspects of medical and dental practices, as well as networks of practices, such as physician hospital organizations and management service organizations, ambulatory care centers, community health centers, and medical and dental schools. The company offers proprietary electronic medical records software and practice management systems.
No position
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