NEW YORK (TheStreet) -- Shares of Allscripts Healthcare Solutions (MDRX) were diving 9.41% to $10.49 on heavy trading volume early Friday afternoon after the company posted weaker-than-expected results for the 2016 third quarter.
After yesterday's closing bell, the Chicago-based healthcare IT company reported adjusted earnings of 14 cents per diluted share, below analysts' estimates of 15 cents per share.
Revenue for the period was $404.1 million, which fell short of Wall Street's forecasts of $415.5 million, according to FactSet.
For the fourth quarter, Allscripts sees earnings per share between 14 cents and 16 cents on revenue of $420 million to $435 million.
Analysts surveyed by FactSet are looking for earnings of 16 cents per share on revenue of $424 million for the current period.
More than 5.76 million of the company's shares traded so far today vs. its average 30-day volume of 1.83 million shares.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income and expanding profit margins.
But the team also finds that the stock has had a generally disappointing performance in the past year.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: MDRX