Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) Given New $12.00 Price Target at Morgan Stanley
Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) had its target price boosted by investment analysts at Morgan Stanley from $11.00 to $12.00 in a note issued to investors on Monday. The firm presently has an “underweight” rating on the software maker’s stock. Morgan Stanley’s price target suggests a potential downside of 8.54% from the company’s previous close.
Several other analysts have also recently issued reports on the stock. Maxim Group reaffirmed a “buy” rating and set a $16.00 price objective on shares of Allscripts Healthcare Solutions in a research note on Friday. Piper Jaffray Companies reaffirmed a “hold” rating and set a $14.00 price objective on shares of Allscripts Healthcare Solutions in a research note on Friday, July 21st. BidaskClub raised shares of Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, June 24th. Leerink Swann cut shares of Allscripts Healthcare Solutions from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $15.00 to $13.00 in a research note on Monday, June 19th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $13.00 price objective on shares of Allscripts Healthcare Solutions in a research note on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. Allscripts Healthcare Solutions currently has a consensus rating of “Hold” and a consensus price target of $14.74.
Shares of Allscripts Healthcare Solutions (NASDAQ MDRX) traded up 0.76% on Monday, hitting $13.22. The stock had a trading volume of 2,163,741 shares. Allscripts Healthcare Solutions has a 12 month low of $9.80 and a 12 month high of $15.17. The firm’s market cap is $2.40 billion. The firm’s 50-day moving average price is $12.46 and its 200 day moving average price is $12.12.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.04. Allscripts Healthcare Solutions had a negative net margin of 11.54% and a positive return on equity of 5.97%. The business had revenue of $426.10 million for the quarter, compared to analysts’ expectations of $424.94 million. During the same period in the prior year, the company posted $0.14 EPS. The firm’s revenue was up 10.2% on a year-over-year basis. Analysts anticipate 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 firm’s stock in a transaction on 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 directly owns 412,488 shares in the company, valued at approximately $4,974,605.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in MDRX. First Trust Advisors LP increased its stake in Allscripts Healthcare Solutions by 48.0% in the first quarter. First Trust Advisors LP now owns 5,855,944 shares of the software maker’s stock valued at $74,253,000 after buying an additional 1,898,007 shares in the last quarter. Mesirow Financial Investment Management Equity Management bought a new stake in Allscripts Healthcare Solutions during the second quarter valued at $18,797,000. Fiduciary Management Inc. WI increased its stake in Allscripts Healthcare Solutions by 28.5% in the first quarter. Fiduciary Management Inc. WI now owns 6,045,110 shares of the software maker’s stock valued at $76,652,000 after buying an additional 1,341,870 shares in the last quarter. Boston Partners increased its stake in Allscripts Healthcare Solutions by 16.5% in the second quarter. Boston Partners now owns 5,415,576 shares of the software maker’s stock valued at $69,102,000 after buying an additional 767,249 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Allscripts Healthcare Solutions by 9.4% in the first quarter. Dimensional Fund Advisors LP now owns 7,227,789 shares of the software maker’s stock valued at $91,648,000 after buying an additional 621,620 shares in the last quarter.
Allscripts Healthcare Solutions Company Profile
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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