Allscripts Healthcare Solutions Rating Reiterated by Zacks (MDRX)
Allscripts Healthcare Solutions (NASDAQ:MDRX)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued on Monday, AnalystRatings.NET reports. They currently have a $19.00 price target on the stock. Zacks‘ target price points to a potential upside of 3.49% from the stock’s previous close.
Zacks‘ analyst wrote, “Allscripts Healthcare Solutions’ earnings of $0.04 for the 2013-fourth quarter plunged 55.6% and met the Zacks Consensus Estimate. However, revenues of $351.0 million surpassed the mark despite being flat year-over-year. Despite the soft results, bookings improved significantly in the quarter driven by new upgraded products. The company’s continues to benefit from the movement among medical providers seeking to comply with federal EHR requirements. Further, its non-EHR offerings for the untapped HCIT market, such as population health management and care coordination are considered to be future growth drivers. However, Allscripts’ ability to integrate acquisitions remains to be proven and it continues to face strong competition in a fragmented market. Hence, we reaffirm our Neutral recommendation with a target of $19.00.”
MDRX has been the subject of a number of other recent research reports. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Allscripts Healthcare Solutions in a research note on Friday. They now have a $21.00 price target on the stock, up previously from $20.00. Separately, analysts at FBR Capital Markets raised their price target on shares of Allscripts Healthcare Solutions from $16.00 to $18.00 in a research note on Friday. They now have a “market perform” rating on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of Allscripts Healthcare Solutions from $20.00 to $23.00 in a research note on Friday. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $18.31.
Allscripts Healthcare Solutions (NASDAQ:MDRX) traded up 0.63% on Monday, hitting $18.455. The stock had a trading volume of 826,239 shares. Allscripts Healthcare Solutions has a one year low of $12.02 and a one year high of $18.87. The stock has a 50-day moving average of $16.33 and a 200-day moving average of $15.21. The company’s market cap is $3.294 billion.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.08 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.08. The company had revenue of $351.00 million for the quarter, compared to the consensus estimate of $343.47 million. On average, analysts predict that Allscripts Healthcare Solutions will post $0.43 earnings per share for the current fiscal year.
Allscripts Healthcare Solutions, Inc (NASDAQ:MDRX) is a provider of clinical, financial, connectivity and information solutions and related professional services to hospitals, physicians and post-acute organizations.
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