Allscripts Healthcare Solutions (NASDAQ:MDRX)‘s stock had its “buy” rating reissued by research analysts at Cantor Fitzgerald in a research report issued on Sunday. They currently have a $17.00 price target on the software maker’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 10.82% from the stock’s current price.
The analysts wrote, “Last week, an article on FierceHealthcare.com suggested that an ongoing DOJ investigation had affected the purchase price paid by Allscripts for Practice Fusion.””
MDRX has been the subject of several other research reports. Evercore ISI assumed coverage on shares of Allscripts Healthcare Solutions in a research report on Thursday, January 18th. They set an “outperform” rating and a $17.50 price target for the company. BidaskClub lowered shares of Allscripts Healthcare Solutions from a “buy” rating to a “hold” rating in a research report on Friday, January 19th. Robert W. Baird increased their price target on shares of Allscripts Healthcare Solutions from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. SunTrust Banks downgraded shares of Allscripts Healthcare Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. They noted that the move was a valuation call. Finally, KeyCorp reaffirmed a “hold” rating on shares of Allscripts Healthcare Solutions in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $15.66.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last posted its quarterly earnings results on Thursday, November 2nd. The software maker reported $0.12 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. The company had revenue of $451.20 million during the quarter, compared to analyst estimates of $429.94 million. Allscripts Healthcare Solutions had a negative net margin of 3.89% and a negative return on equity of 10.28%. equities analysts predict that Allscripts Healthcare Solutions will post 0.46 EPS for the current year.
In other news, President Richard J. Poulton sold 15,000 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $14.26, for a total value of $213,900.00. Following the sale, the president now directly owns 1,351,773 shares of the company’s stock, valued at $19,276,282.98. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Brian Farley sold 5,000 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $14.35, for a total transaction of $71,750.00. Following the completion of the sale, the executive vice president now directly owns 191,607 shares in the company, valued at $2,749,560.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,796 shares of company stock worth $804,842. Insiders own 0.75% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Archford Capital Strategies LLC raised its stake in 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 purchasing an additional 6,124 shares in the last quarter. Seven Eight Capital LLC purchased a new stake in Allscripts Healthcare Solutions in the first quarter valued at approximately $102,000. FNY Partners Fund LP raised its stake in 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 purchasing an additional 7,200 shares in the last quarter. Invictus RG purchased a new stake in Allscripts Healthcare Solutions in the first quarter valued at approximately $105,000. Finally, Riverhead Capital Management LLC raised its stake in Allscripts Healthcare Solutions by 63.7% in the third quarter. Riverhead Capital Management LLC now owns 8,500 shares of the software maker’s stock valued at $112,000 after purchasing an additional 3,308 shares in the last quarter.
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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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