Allscripts Healthcare Solutions, Inc. (MDRX) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) have earned a consensus rating of “Buy” from the twenty-one brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $14.94.
A number of analysts have recently issued reports on the company. Citigroup Inc. increased their target price on Allscripts Healthcare Solutions from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Monday, August 7th. Zacks Investment Research upgraded Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Cantor Fitzgerald upgraded Allscripts Healthcare Solutions from a “neutral” rating to an “overweight” rating and set a $12.00 target price for the company in a report on Tuesday, August 15th. Royal Bank Of Canada assumed coverage on Allscripts Healthcare Solutions in a report on Tuesday, September 19th. They issued an “outperform” rating and a $17.00 target price for the company. Finally, Maxim Group restated a “buy” rating and issued a $16.00 target price on shares of Allscripts Healthcare Solutions in a report on Friday, August 4th.
Allscripts Healthcare Solutions (NASDAQ:MDRX) traded down 0.58% during trading on Friday, reaching $13.73. The company had a trading volume of 1,880,749 shares. The company has a 50-day moving average price of $13.01 and a 200 day moving average price of $12.40. The stock’s market cap is $2.48 billion. Allscripts Healthcare Solutions has a 52-week low of $9.80 and a 52-week high of $13.97.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last released its earnings results on Thursday, August 3rd. The software maker reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.04). The business 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 5.97%. Allscripts Healthcare Solutions’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 EPS. On average, analysts anticipate that Allscripts Healthcare Solutions will post $0.62 earnings per share for the current year.
In other Allscripts Healthcare Solutions news, President Richard J. Poulton sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $13.56, for a total transaction of $203,400.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Brian Farley sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $13.52, for a total value of $67,600.00. Following the transaction, the executive vice president now owns 196,607 shares in the company, valued at $2,658,126.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,000 shares of company stock worth $473,800. Corporate insiders own 0.75% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of MDRX. FNY Partners Fund LP raised its holdings in Allscripts Healthcare Solutions by 900.0% during the first quarter. FNY Partners Fund LP now owns 8,000 shares of the software maker’s stock valued at $101,000 after buying an additional 7,200 shares in the last quarter. Invictus RG acquired a new stake in shares of Allscripts Healthcare Solutions in the first quarter valued at about $105,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Allscripts Healthcare Solutions by 9.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,434 shares of the software maker’s stock valued at $120,000 after purchasing an additional 816 shares during the last quarter. Bank of Montreal Can grew its position in shares of 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 purchasing an additional 3,724 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Allscripts Healthcare Solutions in the second quarter valued at about $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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