Allscripts Healthcare Solutions Given “Neutral” Rating at Zacks (MDRX)
Allscripts Healthcare Solutions (NASDAQ:MDRX)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued on Monday. They currently have a $16.00 price target on the stock. Zacks‘s price objective would suggest a potential upside of 7.31% from the stock’s previous close.
Zacks’ analyst wrote, “Allscripts Healthcare Solutions’ earnings per share of $0.05 for the 2014-second quarter rose by $0.04 over the prior year and beat the Zacks Consensus Estimate by a penny. Revenues of $351.3 million rose 1.9% but missed the mark marginally. Bookings improved by 9.3% in the quarter on higher client demand. 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 $16.00.”
Shares of Allscripts Healthcare Solutions (NASDAQ:MDRX) traded down 0.80% during mid-day trading on Monday, hitting $14.91. 2,475,013 shares of the company’s stock traded hands. Allscripts Healthcare Solutions has a 52 week low of $13.72 and a 52 week high of $19.68. The stock has a 50-day moving average of $15.99 and a 200-day moving average of $16.41. The company’s market cap is $2.681 billion.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last released its earnings data on Thursday, August 7th. The company reported $0.09 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.09. The company had revenue of $351.30 million for the quarter, compared to the consensus estimate of $353.12 million. During the same quarter last year, the company posted $0.13 earnings per share. Allscripts Healthcare Solutions’s revenue was up 1.9% compared to the same quarter last year. Analysts expect that Allscripts Healthcare Solutions will post $0.38 EPS for the current fiscal year.
MDRX has been the subject of a number of other recent research reports. Analysts at Raymond James reiterated an “outperform” rating on shares of Allscripts Healthcare Solutions in a research note on Friday. They now have a $18.00 price target on the stock, down previously from $18.50. Separately, analysts at Jefferies Group upgraded shares of Allscripts Healthcare Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. They now have a $21.00 price target on the stock, up previously from $15.00. Finally, analysts at ISI Group upgraded shares of Allscripts Healthcare Solutions from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 10th. They now have a $19.00 price target on the stock, up previously from $17.50. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Allscripts Healthcare Solutions presently has an average rating of “Hold” and an average price target of $18.53.
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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