Allscripts Healthcare Solutions, Inc. (MDRX) Receives Buy Rating from SunTrust Banks, Inc.
Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX)‘s stock had its “buy” rating reiterated by equities research analysts at SunTrust Banks, Inc. in a research note issued on Friday. They currently have a $16.00 price target on the software maker’s stock. SunTrust Banks, Inc.’s price objective points to a potential upside of 23.65% from the company’s previous close.
A number of other analysts have also recently issued reports on MDRX. Piper Jaffray Companies restated a “hold” rating and set a $14.00 price objective on shares of Allscripts Healthcare Solutions in a research report on Friday, July 21st. Maxim Group restated a “buy” rating and set a $16.00 price objective on shares of Allscripts Healthcare Solutions in a research report on Friday, August 4th. Morgan Stanley boosted their price objective on Allscripts Healthcare Solutions from $11.00 to $12.00 and gave the company an “underweight” rating in a research report on Monday, August 7th. Citigroup Inc boosted their price objective on Allscripts Healthcare Solutions from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Monday, August 7th. Finally, Zacks Investment Research upgraded Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.13.
Shares of Allscripts Healthcare Solutions (NASDAQ MDRX) opened at $12.94 on Friday. The stock has a market cap of $2.30 billion, a PE ratio of 29.65, a P/E/G ratio of 2.39 and a beta of 1.35. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.13.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last released its quarterly earnings data on Thursday, August 3rd. The software maker reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). The firm had revenue of $426.10 million for the quarter, compared to the consensus estimate of $424.94 million. Allscripts Healthcare Solutions had a negative net margin of 12.23% and a positive return on equity of 6.44%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.14 earnings per share. equities analysts forecast that Allscripts Healthcare Solutions will post 0.45 EPS for the current fiscal year.
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In other news, President Richard J. Poulton sold 15,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $13.56, for a total transaction of $203,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Brian Farley sold 5,000 shares of the company’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 transaction, the executive vice president now directly owns 196,607 shares in the company, 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 worth $473,800 in the last 90 days. Company insiders own 0.75% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. FDx Advisors Inc. acquired a new position in shares of Allscripts Healthcare Solutions during the third quarter valued at $241,000. Candriam Luxembourg S.C.A. lifted its stake in shares of Allscripts Healthcare Solutions by 28.6% during the third quarter. Candriam Luxembourg S.C.A. now owns 135,000 shares of the software maker’s stock valued at $1,921,000 after acquiring an additional 30,000 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Allscripts Healthcare Solutions by 30.1% during the third quarter. Principal Financial Group Inc. now owns 1,003,690 shares of the software maker’s stock valued at $14,283,000 after acquiring an additional 232,209 shares during the period. Wesbanco Bank Inc. lifted its stake in shares of Allscripts Healthcare Solutions by 13.1% during the third quarter. Wesbanco Bank Inc. now owns 166,981 shares of the software maker’s stock valued at $2,376,000 after acquiring an additional 19,394 shares during the period. Finally, Monarch Partners Asset Management LLC acquired a new position in shares of Allscripts Healthcare Solutions during the third quarter valued at $6,447,000.
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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