Business Internet provider tw telecom has beefed up its local network by adding fiber between downtown and the district on the west side of the Nashville International Airport. The company, which counts BMI and Healthcare Realty Trust among its local clients, also is planning a move into five other cities from Philadelphia to Salt Lake City.
Shares of health care learning services company HealthStream got a 3 percent boost Thursday after the Centers for Medicare and Medicaid Services said the new deadline for providers to comply with the ICD-10 coding regulations will be Oct. 1, 2015. Uncertainty around the deadline had given skittish investors a reason to sell HealthStream, which got about 10 percent of its 2013 revenues from ICD-10 products. But Avondale Partners analyst Richard Close says the company "will begin to see additional sales for its ICD-10 offering sooner rather than later now that the deadline has been definitively established." He still expects the stock (Ticker: HSTM) to climb back to $33.50 from its current levels of about $23.
Seven-year-old Cell Journalist has been sold to ScribbleLive, a fellow content engagement platform play based in Toronto. Cell Journalist was backed by locally based investment firm Conduit as well as others and counted Nashville's TV stations as well as nearly 20 Media General properties among its 150-plus customers. Kelley Boothe at Southern Alpha has the details and the context.
The organizers of digital media conference PodCamp Nashville are adding a warm-up event to their seventh edition, which will take place May 17 at Nossi College of Art. The Friday night before the event will see the Entrepreneur Center host a meet-and-greet party for both PodCamp attendees and all EC members. Check out more info on the event here and PCN in general here.
Richard Close says investors could make more than 40 percent if they step into HealthStream following the company's first-quarter profit report. On Thursday, he reiterated his 'market outperform' rating and $33.50 price target and lifted his operating income forecast for this year and next.
"We view the recent pullback over ICD-10 to be an opportunity to add to current positions or initiate a new position as we expect solid growth in operating income and revenue ex. ICD-10 to prove more important than temporary uncertainty from CMS," said Close, who also pointed out that HealthStream's market cap as a multiple of per-subscriber revenue is at its lowest since 2011.
Close's backing didn't do HealthStream shares (Ticker: HSTM) much good Thursday, though. After regaining only a little bit of the 6 percent they lost Tuesday on the heels of the earnings report, they fell another 5 percent to $22.20. That's their lowest level since last May.