Allscripts Healthcare Solutions, Inc. (MDRX) Receives Buy Rating from Maxim Group
Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX)‘s stock had its “buy” rating reiterated by research analysts at Maxim Group in a report issued on Friday. They currently have a $16.00 price objective on the software maker’s stock. Maxim Group’s price target suggests a potential upside of 23.65% from the company’s previous close.
Several other equities research analysts have also weighed in on the company. Robert W. Baird increased their target price on Allscripts Healthcare Solutions from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday. KeyCorp reaffirmed a “hold” rating on shares of Allscripts Healthcare Solutions in a research report on Friday, October 27th. Zacks Investment Research lowered Allscripts Healthcare Solutions from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Dougherty & Co reaffirmed a “buy” rating and issued a $16.00 target price (up from $15.00) on shares of Allscripts Healthcare Solutions in a research report on Tuesday, October 3rd. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $17.00 target price on shares of Allscripts Healthcare Solutions in a research report on Wednesday, September 27th. Two investment 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. The company has an average rating of “Hold” and an average target price of $15.13.
Shares of Allscripts Healthcare Solutions (NASDAQ MDRX) traded up $0.19 on Friday, reaching $12.94. The company had a trading volume of 3,330,000 shares, compared to its average volume of 1,746,091. Allscripts Healthcare Solutions has a 52-week low of $9.80 and a 52-week high of $14.45. The company has a market capitalization of $2,337.12, a PE ratio of 30.09, a PEG ratio of 2.42 and a beta of 1.35. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.93 and a quick ratio of 0.93.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last issued its earnings results on Thursday, August 3rd. The software maker reported $0.11 earnings per share 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 6.44% and a negative net margin of 12.23%. The company had revenue of $426.10 million during the quarter, compared to analyst estimates of $424.94 million. During the same period in the prior year, the business earned $0.14 earnings per share. Allscripts Healthcare Solutions’s quarterly revenue was up 10.2% on a year-over-year basis. sell-side analysts predict that Allscripts Healthcare Solutions will post 0.45 EPS for the current year.
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In related news, CEO Paul Black sold 15,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $13.52, for a total transaction of $202,800.00. 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 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 directly 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 have sold 35,000 shares of company stock valued at $473,800 in the last ninety days. Company insiders own 0.75% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Wesbanco Bank Inc. boosted its stake in Allscripts Healthcare Solutions by 131.4% during the second quarter. Wesbanco Bank Inc. now owns 147,587 shares of the software maker’s stock valued at $1,883,000 after buying an additional 83,807 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Allscripts Healthcare Solutions by 26.9% during the second quarter. Dimensional Fund Advisors LP now owns 9,171,285 shares of the software maker’s stock valued at $117,026,000 after buying an additional 1,943,496 shares in the last quarter. Dalton Greiner Hartman Maher & Co. bought a new position in Allscripts Healthcare Solutions during the second quarter valued at about $1,276,000. OppenheimerFunds Inc. boosted its stake in Allscripts Healthcare Solutions by 9.4% during the first quarter. OppenheimerFunds Inc. now owns 31,445 shares of the software maker’s stock valued at $399,000 after buying an additional 2,701 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Allscripts Healthcare Solutions by 6.8% during the second quarter. Victory Capital Management Inc. now owns 1,627,164 shares of the software maker’s stock valued at $20,763,000 after buying an additional 103,395 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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