Shares of Allscripts Healthcare Solutions Inc. rose the most in two years after the medical technology company reported preliminary second-quarter adjusted earnings that topped analysts’ estimates.
Adjusted profit of 12 cents a share beat the average projection of 10 cents, according to data compiled by Bloomberg. The company said it expects revenue of $350 million to $353 million, beating analysts’ estimates of $349 million.
The Chicago-based company provides patient-management software to about 180,000 physicians and 2,500 hospitals. The company is shifting to more long-term contracts and away from less profitable deals to install and upgrade software, seeking to improve performance after reporting disappointing sales results in 2014.
Allscripts shares were up 10 percent to $15.04 at 12:36 p.m. in New York. They rose as much as 13 percent earlier. Even with today’s gain, the stock is down 9.2 percent over the past 12 months. The company reports second-quarter earnings on Aug. 4.