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NEW YORK - NYC Health + Hospitals, the largest municipal healthcare system in the United States, announced today it will implement Oracle Fusion Cloud Applications to consolidate and modernize its finance, supply chain, and human resources processes. Oracle, with a market capitalization of $631 billion and annual revenue of $57.4 billion, has established itself as a prominent player in the enterprise software industry.
The healthcare network, which serves more than one million patients annually across New York City’s five boroughs, began working with Oracle Fusion Applications in November 2024 and is now expanding the implementation across its system. According to InvestingPro data, Oracle has demonstrated strong market performance with a 63.2% return over the past year, reflecting growing enterprise adoption of its cloud solutions.
The upgrade aims to integrate previously siloed systems, standardize operations, and enhance both employee and patient experiences across the organization’s network of hospitals, community health centers, and long-term care facilities.
"With high-quality health care at the core of our mission, the stakes are high and operating with siloed data was neither efficient nor sustainable," said Danielle DiBari, chief pharmacy officer, chief procurement officer, and senior vice president of Business Operations at NYC Health + Hospitals.
The implementation is expected to increase IT security while reducing reliance on outdated software and hardware systems currently in use at individual facilities. The integrated cloud platform will provide the organization with improved data access and insights to support operational decision-making.
NYC Health + Hospitals employs more than 45,000 staff members across its integrated network, which includes hospitals, community-based health centers, long-term care facilities, rehabilitation centers, home care services, correctional health services, and a health insurance plan.
Oracle Fusion Applications delivers quarterly updates to its customers, according to the company’s press release statement.
Oracle (NYSE:ORCL) provides integrated application suites and infrastructure services through Oracle Cloud. While currently trading at premium multiples with a P/E ratio of 50.26, InvestingPro analysis suggests the stock is trading above its Fair Value. Investors can access detailed insights and 16 additional ProTips about Oracle through InvestingPro’s comprehensive research reports, available for over 1,400 US stocks.
In other recent news, Oracle has seen several significant developments. Mizuho has raised its price target for Oracle to $300, citing the company’s strong positioning in the AI sector and its potential as a "structural AI winner." Similarly, Bernstein SocGen Group increased its price target to $308, highlighting Oracle’s ongoing cloud transition and its potential to become a major player in the global cloud infrastructure market. Citizens JMP reiterated a Market Outperform rating for Oracle, supported by positive industry feedback and case studies. In a strategic move, Oracle has expanded its partnership with Google Cloud, providing access to Google’s Gemini AI models through Oracle Cloud Infrastructure. Meanwhile, Oracle is making adjustments within its cloud division, reducing its workforce to manage costs while continuing to invest in AI infrastructure. Despite the job cuts, the company remains focused on recruiting new talent for its cloud unit. These developments underscore Oracle’s strategic focus on AI and cloud growth.
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