Allscripts Healthcare Solutions, Inc. (MDRX) Receives “Buy” Rating from Maxim Group
Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX)‘s stock had its “buy” rating reaffirmed by equities research analysts at Maxim Group in a research report issued to clients and investors on Friday. They presently have a $16.00 price objective on the software maker’s stock. Maxim Group’s price target would suggest a potential upside of 21.95% from the stock’s previous close.
A number of other research firms have also recently weighed in on MDRX. BidaskClub raised shares of Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. Leerink Swann cut shares of Allscripts Healthcare Solutions from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $15.00 to $13.00 in a research report on Monday, June 19th. Bank of America Corporation began coverage on shares of Allscripts Healthcare Solutions in a research report on Monday, May 15th. They issued a “neutral” rating and a $14.00 price objective for the company. Piper Jaffray Companies reissued a “hold” rating and issued a $14.00 price objective on shares of Allscripts Healthcare Solutions in a research report on Friday, July 21st. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $13.00 price objective on shares of Allscripts Healthcare Solutions in a research report on Monday, May 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.66.
Allscripts Healthcare Solutions (NASDAQ MDRX) traded up 12.43% during mid-day trading on Friday, reaching $13.12. The company’s stock had a trading volume of 13,581,762 shares. The stock’s market capitalization is $2.38 billion. The stock’s 50 day moving average price is $12.46 and its 200 day moving average price is $12.12. 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 posted its quarterly earnings data on Thursday, August 3rd. The software maker reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by $0.04. The firm had revenue of $426.10 million during the quarter, compared to analysts’ expectations of $424.94 million. Allscripts Healthcare Solutions had a negative net margin of 11.54% and a positive return on equity of 5.84%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 earnings per share. Analysts expect that Allscripts Healthcare Solutions will post $0.62 EPS for the current fiscal year.
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In other 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.75% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Thrivent Financial For Lutherans raised its stake in Allscripts Healthcare Solutions by 255.4% in the first quarter. Thrivent Financial For Lutherans now owns 111,780 shares of the software maker’s stock valued at $1,418,000 after buying an additional 80,330 shares during the period. Neuburgh Advisers LLC raised its stake in Allscripts Healthcare Solutions by 4.1% in the first quarter. Neuburgh Advisers LLC now owns 12,070 shares of the software maker’s stock valued at $153,000 after buying an additional 476 shares during the period. Canada Pension Plan Investment Board raised its stake in Allscripts Healthcare Solutions by 12.0% in the first quarter. Canada Pension Plan Investment Board now owns 82,200 shares of the software maker’s stock valued at $1,042,000 after buying an additional 8,800 shares during the period. Credit Agricole S A acquired a new stake in Allscripts Healthcare Solutions during the first quarter valued at $300,000. Finally, Virtu Financial LLC acquired a new stake in Allscripts Healthcare Solutions during the second quarter valued at $134,000.
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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