Shares of Quality Systems Inc., an Irvine medical management software company, were up 9% Friday after an analyst upgraded his rating on the stock.
Analyst Sean Wieland of US Bancorp Piper Jaffray said in a research note that Quality should gain from several recent contract wins with large medical practices.
Recent deals for its software, which helps doctors and dentists manage their practices, were with Wayne State University in Detroit, which has 700 physicians, and Mills Peninsula, a 250-doctor group in Burlingame, south of San Francisco.
Wieland said those contracts bode well for Quality’s first-quarter and longer-term sales results.
He upped his rating on Quality to “outperform” from “market perform,” and raised his share price target to $59 from $49.
Shares of the company were closed at $52.2 on Friday.
