Clifton S. Robbins and his fund, Blue Harbour Group, have taken steps to reduce their exposure to Allscripts Healthcare Solutions Inc. (NASDAQ:MDRX). According to a recently amended filing with the Securities and Exchange Commission, Blue Harbour now holds 9.31 million shares, down from 10.7 million shares reported at the end of the first quarter. The fund’s current position amounts to 4.99% of the company’s common stock.
A provider of information technology and services to healthcare organizations, Allscripts Healthcare Solutions Inc. (NASDAQ:MDRX) has recently reported second quarter results that were below Wall Street’s expectations. The company posted $386.5 million in revenue, up 10% year-over-year, and adjusted earnings of $0.14 per share. Analysts, on the other hand, were looking for $403.1 million in revenue and $0.14 in earnings per share. Investors reacted negatively to the report and drove the stock lower, currently trading at $13.82 per share, down by 7.6% for the year.
At the end of the first quarter, 24 of the funds followed by Insider Monkey had Allscripts Healthcare Solutions Inc. (NASDAQ:MDRX) in their equity portfolios, up from 23 registered three months earlier. Their combined holdings accounted for 27.1% of the company’s outstanding stock. David Cohen and Harold Levy‘s Iridian Asset Management held the largest position among the funds we follow: 14.4 million shares, down 8% for the quarter. Glenn J. Krevlin’s Glenhill Advisors held 10.5 million shares at the end of March, up 14% from the end of December.
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|Blue Harbour Group||0||9,309,695||0||9,309,695||9,309,695||4.99%|
|Blue Harbour Holdings||0||9,309,695||0||9,309,695||9,309,695||4.99%|
|Clifton S. Robbins||0||9,309,695||0||9,309,695||9,309,695||4.99%|
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Page 1 of 7 – SEC Filing
|SECURITIES AND EXCHANGE COMMISSION|
|Washington, D.C. 20549|
|Under the Securities Exchange Act of 1934|
|(Amendment No. 1)*|
|(Name of Issuer)|
|(Title of Class of Securities)|
Blue Harbour Group, LP
646 Steamboat Road
Greenwich, Connecticut 06830
with a copy to:
Marc Weingarten, Esq.
Eleazer Klein, Esq.
Schulte Roth & Zabel LLP
919 Third Avenue
New York, New York 10022
|(Name, Address and Telephone Number of Person|
|Authorized to Receive Notices and Communications)|
|(Date of Event Which Requires Filing of This Statement)|
If the filing person has previously filed a statement on Schedule
13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e),
Rule 13d-1(f) or Rule 13d-1(g), check the following box. [ ]
(Page 1 of 7 Pages)
* The remainder of this cover page shall be filled out for a reporting
person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing
information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall
not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).