Healthcor Management Reduces Position in Allscripts Healthcare Solutions Inc (MDRX)

Arthur Cohen and Joseph Healey‘s Healthcor Management, revealed, in a newly amended filing with the SEC, decreasing its holding in Allscripts Healthcare Solutions Inc (NASDAQ:MDRX), currently owning 10.0 million shares of the company, from 11.0 million held at the end of September, as revealed in the fund’s latest 13F. Currently Healthcor’s activist stake, amasses 5.6% of the company’s common stock, and at the current value of Allscripts Healthcare Solutions shares, it is worth $150.2 million.

Arthur B Cohen and Joseph Healey

Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) makes it easy for healthcare experts to generate world-class outcomes through its insightful connectivity and information solutions. The company has recently announced the expansion of its operations in India, one of its key emerging markets, through opening a new product development center in Baroda. The facility is expected to help the company to consolidate its product development team, the company said in a statement. In this way, Allscripts’ center in Baroda will have a team consisting of around 400 employees, up from the current 275.

Several hedge funds have been bullish on Allscripts so far. Despite trimming the holding, Healthcor Management is still one of the most significant stockholders of the company. Eminence Capital, managed by Ricky Sandler, is another holder of a large position, revealing ownership of almost 7.8 million shares, worth $115.8 million in its latest 13F. It is followed by Clifton S. Robbins‘ Blue Harbour Group, which disclosed a $108 million stake, which amasses 7.3 million shares.

According to another recent filing of Healthcor Management, the fund has initiated a passive stake in Five Prime Therapeutics Inc (NASDAQ:FPRX), owning currently 965,000 shares, equal to 5.73% of the outstanding common stock.

Disclosure: none

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