Emis Share Discussion Threads

[undervaluedassets] 30/9/2019 08:17

my finger is on the buy button (as in 'buy some more').

Been in these for 5 years now and this company has a unique niche.

Generalized Aim market weakness is gifting investors a nice price in my view

[undervaluedassets] 03/9/2019 11:34

yes looked fine to me

And as you say insulated from Brexit.

[wad collector] 03/9/2019 11:21

I didn't notice the half year results last week , in line dividend up 10% outlook unchanged though management costs up.
And Brexit proof!

[wad collector] 16/7/2019 13:31

Trading for the half year has been in line with the Board's expectations with revenue ahead of the comparative period. The Board's expectations for the full year remain unchanged.

[wad collector] 04/7/2019 09:52

Welcome again Volsung , yes that would be good ; one of my few other recent successes.

[volsung] 02/7/2019 15:20

I'm joining you here wad. Hopefully be like OXIG

[wad collector] 24/6/2019 10:49

Impressive chart ; ride the winner or take some profits?

[wad collector] 21/5/2019 10:11

New ATH today as it passes £12.
I see there was an IC buy article last week;

In January 2018, a disappointing announcement from Emis (EMIS) sent its shares plunging. The group – a provider of connected healthcare software and services – had identified “a failure to meet certain service levels and reporting obligations” with its customer NHS Digital, following a review conducted by new chief executive Andy Thorburn. The final numbers for 2017 – issued a couple of months later – reflected in a £11.2m provision, taken to cover the potential financial settlement and remedial expenses.

A solemn note on which to start. But, since then, Emis has given cause for increasing optimism – helping to lift its shares to a recent all-time high. For one thing, it settled with NHS Digital – ultimately paying out £1.7m less than expected. Now, the government’s £450m ‘GP IT Futures framework’ could be a catalyst for growth. This aims to “create an open, competitive market to encourage the best technology companies to invest in the NHS”. It replaces the current framework, ‘GP Systems of Choice’ (GPSoC), which currently represents the largest single source of revenue for Emis.

True, there’s a risk that it won’t be included on the new framework. Upon reviewing its latest preliminary numbers, we retained a ‘hold’ call – explaining that we’d rather monitor the procurement process from the sidelines. But we now see grounds for encouragement as the procurement phase begins, including Mr Thorburn's purchase of £50,000-worth of shares last month at 1,131p. Emis, which is currently market leader in GP software, thinks it is well positioned in the pre-procurement phase, especially given its “strategy and roadmap for a new and enhanced cloud-based clinical platform” (named Emis-X), which “further aligns the group with NHS England's strategy”.

Last week's AGM statement provided further reassurance. “Pre-procurement engagement with NHS Digital continues positively, with the formal GP IT Futures procurement process expected to begin in the coming weeks”. According to NHS Digital, procurement will begin shortly with the issue of tender invitations. Existing arrangements under the GPSoC framework will end by December 2019. The new arrangements will then be in place for all practices across England.

Meanwhile, high levels of recurring revenue constitute a feather in Emis’s cap. For 2018, these rose by 5 per cent to £141m – representing 83 per cent of the top line, in keeping with the prior year. Meanwhile, reported operating profits should be taken with a small pinch of salt, having been flattered by 2017’s (overgenerous) provision charge. But adjusted profits still edged up 1 per cent.

Another plus point for Emis is its solid cash generation. Adjusted cash from operations climbed by a tenth to £54.5m for the respective period, supporting a decent dividend hike and providing money to invest in the group's growth plans. The cash position will also get a boost from the sale of Emis's non-core specialist and care division for £14.9m, which was announced a few weeks ago.

[lageraemia] 09/5/2019 11:46

I think there is an emerging difference in attitude between EMIS and its main competitor (TPP) when it comes to GP Futures from what I hear. EMIS seem to be taking it much more seriously. If TPP decode its not in their interests to comply, then there could be a HUGE migration onto EMIS web.

[kenmill1] 05/5/2019 16:33

SCSW still rates it a buy at this level

[wad collector] 01/5/2019 12:40

A month old news but as we are touching new highs today....
IC View 22nd Mar 2019

Emis is now focusing on securing a place on the £450m ‘GP IT Futures’ framework in the UK. It is also seeking to expand the private sector side of its offering. While these were encouraging numbers, the shares trade at a not undemanding 20 times forecast earnings. We’d rather watch how the framework procurement process plays out from the sidelines. Hold.

Last IC View: Hold, 927p, 03 Sep 2018
y Harriet Clarfelt

Back in December, we learnt that healthcare software group Emis (EMIS) had reached a settlement agreement with NHS Digital over issues linked to its service levels and reporting obligations to GPs surgeries announced in January 2018. In the event, the final charge taken was actually lower than the £11.2m figure provided within 2017’s full-year results. Thus Emis’s latest numbers included a “provision release” of £1.7m – sending statutory operating profits soaring by 170 per cent to £28.7m. Unsurprisingly, the shares were marked up in reply, supported by news that sales had improved across all core businesses, and that recurring revenues rose by 5 per cent to £141m.

Under the Emis Health umbrella, the primary, community and acute care segment saw a 3.5 per cent rise in sales to £122m. Elsewhere, its share of the community market rose from 17 per cent to 20 per cent. It won 90 new community deals, including new software installations in clinical services and community training packages. And all of its 18 outstanding legacy contracts here were completed during the year.

House broker Numis expects adjusted EPS of 52.1p for 2019, against 47.3p in 2018.


All we need to sustain this recent chart is a bid rumour.....

[wad collector] 24/4/2019 09:10

I see they have redacted that.
Interesting,but not necessarily significant ,to see him buying at a high.

[wad collector] 23/4/2019 12:58

I see a news headline last week.
"18/04/2019 13:44 ALNC DIRECTOR DEALINGS: EMIS Group Boss Thorburn Sells GBP50,000 Of Shares"

Minor point , but it was a buy not a sell. 4465 @ 1131

[cambium] 09/4/2019 21:54

Anyone know who owns system one?

[wad collector] 08/4/2019 14:17

Closing in on an ATH
This has been an interesting period for the share price I wonder whether the share price rise is from something unknown to me. Not one to start a bid rumour but....
One bit of good news for the sector is the DOH's enthusiasm for digital access. Part of the latest pronouncements about the GP contract included digitisation of the old written notes by 2022. Like most such announcements the details are non-existent. Anyone who has peered into the filing cabinets full of the paper Lloyd-George notes stretching back half a century of mostly undecipherable scrawl will know that this aspiration is b@@@@cks without major funding , it would take an estimated five million hours of office time and might need a quadrupling of the databases held by companies like EMIS.
hxxps://www.gponline.com/gps-face-huge-task-digitise-lloyd-george-records-2022/article/1525421



free stock charts from uk.advfn.com

[wad collector] 02/4/2019 09:41

There is also the delay between results and broker notes appearing , not that Emis has much profile .
Today's disposal seems to be well received. "Concentrating on core business" as opposed to "diversifying risks" ?

[undervaluedassets] 02/4/2019 08:24

Wad, do you find that there is a period after results when they bed down in the minds of investors before there is a reaction in the price.

Investors are going - "well what does everyone else think?"

I think there has been something of a slow burn here to what were unequivocally very decent numbers..

[wad collector] 27/3/2019 13:33

An agreement on a BB? Call for the moderator, there must be a catch.
Pleased to see a new 3 year high today. Better than most of my ailing portfolio.

[undervaluedassets] 25/3/2019 16:00

I think we are kind of saying the same thing wad... I concur with what you are saying wholeheartedly

[undervaluedassets] 21/3/2019 15:43

hard to change though once you have got your entire patient list on it.

[grahamburn] 21/3/2019 15:12

Though to be fair, undervaluedassets, EMIS's software is NOT "non-discretionary" for anyone in general practice as there are alternative providers, though you are correct that EMIS has a dominant position. That isn't unassailable as we saw last year when EMIS lost one of the smaller contracts in Wales (I think).