Allscripts Healthcare Solutions, Inc. (MDRX) Lowered to “Market Perform” at Leerink Swann
Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) was downgraded by equities researchers at Leerink Swann from an “outperform” rating to a “market perform” rating in a research note issued to investors on Monday, MarketBeat Ratings reports. They presently have a $13.00 price objective on the software maker’s stock, down from their previous price objective of $15.00. Leerink Swann’s target price indicates a potential upside of 4.25% from the stock’s previous close.
MDRX has been the topic of several other research reports. Bank of America Corporation began coverage on shares of Allscripts Healthcare Solutions in a research note on Monday, May 15th. They issued a “neutral” rating and a $14.00 price objective on the stock. Citigroup Inc. upgraded shares of Allscripts Healthcare Solutions from a “hold” rating to a “buy” rating in a report on Friday, March 24th. They noted that the move was a valuation call. Cantor Fitzgerald restated a “neutral” rating and issued a $13.00 target price on shares of Allscripts Healthcare Solutions in a report on Monday, May 15th. BidaskClub upgraded shares of Allscripts Healthcare Solutions from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, Deutsche Bank AG upgraded shares of Allscripts Healthcare Solutions from a “hold” rating to a “buy” rating and boosted their target price for the company from $12.50 to $14.00 in a report on Friday, March 24th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $14.59.
Allscripts Healthcare Solutions (MDRX) traded down 2.41% on Monday, hitting $12.17. The stock had a trading volume of 2,749,285 shares. The company’s 50 day moving average is $12.03 and its 200-day moving average is $11.73. The firm’s market capitalization is $2.21 billion. Allscripts Healthcare Solutions has a 1-year low of $9.80 and a 1-year high of $15.17.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last issued its quarterly earnings data on Thursday, May 4th. The software maker reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Allscripts Healthcare Solutions had a negative net margin of 2.93% and a positive return on equity of 5.75%. The company had revenue of $415 million for the quarter, compared to analysts’ expectations of $415.20 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. Allscripts Healthcare Solutions’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, analysts forecast that Allscripts Healthcare Solutions will post $0.62 EPS for the current year.
In related news, President Richard J. Poulton sold 25,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $12.06, for a total value of $301,500.00. Following the sale, the president now owns 412,488 shares in the company, valued at approximately $4,974,605.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brian Farley sold 15,000 shares of the company’s stock in a transaction dated Thursday, March 23rd. The stock was sold at an average price of $11.63, for a total transaction of $174,450.00. Following the completion of the sale, the senior vice president now owns 217,861 shares in the company, valued at approximately $2,533,723.43. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of MDRX. Russell Investments Group Ltd. acquired a new stake in Allscripts Healthcare Solutions during the fourth quarter worth $7,178,000. Comerica Bank raised its stake in Allscripts Healthcare Solutions by 5.3% in the fourth quarter. Comerica Bank now owns 138,741 shares of the software maker’s stock worth $1,627,000 after buying an additional 6,945 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Allscripts Healthcare Solutions by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,606,169 shares of the software maker’s stock worth $67,451,000 after buying an additional 343,444 shares in the last quarter. Federated Investors Inc. PA raised its stake in Allscripts Healthcare Solutions by 4.3% in the fourth quarter. Federated Investors Inc. PA now owns 138,906 shares of the software maker’s stock worth $1,418,000 after buying an additional 5,725 shares in the last quarter. Finally, Brown Advisory Inc. acquired a new stake in Allscripts Healthcare Solutions during the fourth quarter worth $342,000.
About Allscripts Healthcare Solutions
Allscripts Healthcare Solutions, Inc (Allscripts) delivers information technology (IT) solutions and services to help healthcare organizations. The Company operates through three segments: Clinical and Financial Solutions, Population Health, and Netsmart. The Clinical and Financial Solutions segment includes the sale of integrated clinical software applications and financial and information solutions.
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