Zacks: Brokerages Anticipate Allscripts Healthcare Solutions, Inc. (MDRX) Will Announce Quarterly Sales of $429.94 Million
Equities analysts expect that Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) will post sales of $429.94 million for the current fiscal quarter, Zacks reports. Ten analysts have provided estimates for Allscripts Healthcare Solutions’ earnings. The lowest sales estimate is $424.20 million and the highest is $441.10 million. Allscripts Healthcare Solutions reported sales of $404.10 million in the same quarter last year, which would suggest a positive year over year growth rate of 6.4%. The firm is expected to announce its next earnings results after the market closes on Thursday, November 2nd.
According to Zacks, analysts expect that Allscripts Healthcare Solutions will report full-year sales of $429.94 million for the current year, with estimates ranging from $1.79 billion to $1.81 billion. For the next fiscal year, analysts expect that the business will report sales of $2.13 billion per share, with estimates ranging from $2.08 billion to $2.18 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Allscripts Healthcare Solutions.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported $0.11 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 analyst estimates of $424.94 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis.
Several equities research analysts recently weighed in on the company. Citigroup Inc. increased their price target on Allscripts Healthcare Solutions from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Monday, August 7th. Zacks Investment Research raised Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Cantor Fitzgerald raised Allscripts Healthcare Solutions from a “neutral” rating to an “overweight” rating and set a $12.00 price target for the company in a report on Tuesday, August 15th. Maxim Group reaffirmed a “buy” rating and set a $16.00 price target on shares of Allscripts Healthcare Solutions in a report on Friday, August 4th. Finally, Royal Bank Of Canada assumed coverage on Allscripts Healthcare Solutions in a report on Tuesday, September 19th. They set an “outperform” rating and a $17.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $15.00.
Shares of Allscripts Healthcare Solutions (MDRX) traded down 0.22% during mid-day trading on Monday, reaching $13.65. 290,495 shares of the company’s stock traded hands. The firm’s market cap is $2.47 billion. The firm’s 50-day moving average is $13.89 and its 200 day moving average is $12.75. Allscripts Healthcare Solutions has a one year low of $9.80 and a one year high of $14.45.
In other news, President Richard J. Poulton sold 15,000 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $13.56, for a total value of $203,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brian Farley sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $13.52, for a total value of $67,600.00. Following the completion of the transaction, the executive vice president now owns 196,607 shares of the company’s stock, valued at approximately $2,658,126.64. The disclosure for this sale can be found here. Insiders sold 35,000 shares of company stock valued at $473,800 in the last quarter. 0.75% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Archford Capital Strategies LLC increased its position in shares of Allscripts Healthcare Solutions by 6,124.0% in the second quarter. Archford Capital Strategies LLC now owns 6,224 shares of the software maker’s stock valued at $958,000 after buying an additional 6,124 shares in the last quarter. FNY Partners Fund LP increased its position in shares of Allscripts Healthcare Solutions by 900.0% in 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. Virtu Financial LLC purchased a new position in shares of Allscripts Healthcare Solutions in the second quarter valued at $134,000. Bank of Montreal Can increased its position in shares of Allscripts Healthcare Solutions by 6.9% in the second quarter. Bank of Montreal Can now owns 10,603 shares of the software maker’s stock valued at $135,000 after buying an additional 689 shares in the last quarter. Finally, World Asset Management Inc increased its position in shares of Allscripts Healthcare Solutions by 0.7% in the second quarter. World Asset Management Inc now owns 11,419 shares of the software maker’s stock valued at $146,000 after buying an additional 81 shares in 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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