Citigroup Inc. Increases Allscripts Healthcare Solutions, Inc. (MDRX) Price Target to $14.00
Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) had its price objective upped by equities researchers at Citigroup Inc. from $13.00 to $14.00 in a note issued to investors on Monday. The firm presently has a “neutral” rating on the software maker’s stock. Citigroup Inc.’s price objective suggests a potential upside of 6.71% from the stock’s previous close.
MDRX has been the subject of a number of other reports. Bank of America Corporation began coverage on Allscripts Healthcare Solutions in a report on Monday, May 15th. They issued a “neutral” rating and a $14.00 price objective for the company. Leerink Swann cut Allscripts Healthcare Solutions from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $15.00 to $13.00 in a report on Monday, June 19th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $13.00 price objective on shares of Allscripts Healthcare Solutions in a report on Monday, May 15th. BidaskClub upgraded Allscripts Healthcare Solutions from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, Maxim Group reiterated a “buy” rating and issued a $16.00 price objective on shares of Allscripts Healthcare Solutions in a report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $14.74.
Allscripts Healthcare Solutions (MDRX) traded up 0.76% during trading on Monday, reaching $13.22. The company’s stock had a trading volume of 2,163,741 shares. The stock has a 50-day moving average price of $12.46 and a 200 day moving average price of $12.12. The company’s market cap is $2.40 billion. Allscripts Healthcare Solutions has a 52-week low of $9.80 and a 52-week high of $15.17.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last posted its earnings results on Thursday, August 3rd. The software maker reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.04. Allscripts Healthcare Solutions had a positive return on equity of 5.97% and a negative net margin of 11.54%. The business had revenue of $426.10 million for the quarter, compared to analysts’ expectations of $424.94 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. Allscripts Healthcare Solutions’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts expect that Allscripts Healthcare Solutions will post $0.62 EPS for the current year.
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In related news, President Richard J. Poulton sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was 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 accessible through this link. 0.75% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Guggenheim Capital LLC increased its stake in Allscripts Healthcare Solutions by 4.4% in the fourth quarter. Guggenheim Capital LLC now owns 149,708 shares of the software maker’s stock valued at $1,529,000 after buying an additional 6,301 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Allscripts Healthcare Solutions by 7.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 31,450 shares of the software maker’s stock valued at $321,000 after buying an additional 2,260 shares during the last quarter. Foundry Partners LLC increased its stake in Allscripts Healthcare Solutions by 11.1% in the first quarter. Foundry Partners LLC now owns 29,418 shares of the software maker’s stock valued at $373,000 after buying an additional 2,950 shares during the last quarter. Bank of Montreal Can increased its stake in Allscripts Healthcare Solutions by 60.2% in the first quarter. Bank of Montreal Can now owns 9,914 shares of the software maker’s stock valued at $126,000 after buying an additional 3,724 shares during the last quarter. Finally, Capstone Asset Management Co. increased its stake in Allscripts Healthcare Solutions by 1.4% in the first quarter. Capstone Asset Management Co. now owns 16,977 shares of the software maker’s stock valued at $215,000 after buying an additional 230 shares during the last quarter.
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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