Several other analysts also recently weighed in on the company. Cantor Fitzgerald reiterated a buy rating and issued a $17.00 price objective on shares of Allscripts Healthcare Solutions in a research report on Thursday, August 2nd. ValuEngine downgraded Allscripts Healthcare Solutions from a hold rating to a sell rating in a report on Friday, July 20th. Zacks Investment Research downgraded Allscripts Healthcare Solutions from a hold rating to a sell rating in a report on Tuesday, July 3rd. Canaccord Genuity decreased their target price on Allscripts Healthcare Solutions from $17.00 to $16.00 and set a buy rating for the company in a report on Friday, August 3rd. Finally, BidaskClub upgraded Allscripts Healthcare Solutions from a sell rating to a hold rating in a report on Saturday, August 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $16.32.
Shares of MDRX stock opened at $14.40 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.41. Allscripts Healthcare Solutions has a fifty-two week low of $10.78 and a fifty-two week high of $16.13. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 30.64, a P/E/G ratio of 1.94 and a beta of 1.14.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last announced its quarterly earnings data on Thursday, August 2nd. The software maker reported $0.18 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. Allscripts Healthcare Solutions had a return on equity of 8.26% and a net margin of 0.10%. The firm had revenue of $525.50 million during the quarter, compared to the consensus estimate of $536.93 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The business’s revenue was up 23.3% on a year-over-year basis. equities analysts predict that Allscripts Healthcare Solutions will post 0.56 EPS for the current year.
Allscripts Healthcare Solutions announced that its Board of Directors has authorized a stock buyback program on Thursday, August 2nd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the software maker to purchase up to 11.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, CFO Dennis Olis sold 25,000 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $14.50, for a total value of $362,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Farley sold 5,000 shares of the company’s stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $12.23, for a total value of $61,150.00. Following the completion of the sale, the executive vice president now directly owns 247,673 shares in the company, valued at $3,029,040.79. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,000 shares of company stock worth $609,650. 0.75% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Summit Trail Advisors LLC purchased a new stake in shares of Allscripts Healthcare Solutions in the second quarter worth $105,000. Canandaigua National Bank & Trust Co. purchased a new stake in shares of Allscripts Healthcare Solutions in the first quarter worth $145,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Allscripts Healthcare Solutions in the second quarter worth $160,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Allscripts Healthcare Solutions in the second quarter worth $229,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Allscripts Healthcare Solutions in the second quarter worth $204,000.
Allscripts Healthcare Solutions Company Profile
Allscripts Healthcare Solutions, Inc provides information technology solutions and services to healthcare organizations in the United States, Canada, and internationally. It offers electronic health records, connectivity, private cloud hosting, outsourcing, analytics, patient engagement, clinical decision support, and population health management solutions.
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