Allscripts Healthcare Solutions (NASDAQ:MDRX) had its price target trimmed by Robert W. Baird from $16.00 to $14.00 in a research note issued to investors on Friday. The firm currently has an outperform rating on the software maker’s stock.
A number of other equities analysts also recently commented on MDRX. ValuEngine upgraded Allscripts Healthcare Solutions from a sell rating to a hold rating in a report on Saturday, July 14th. Cantor Fitzgerald restated a buy rating and set a $17.00 target price on shares of Allscripts Healthcare Solutions in a report on Thursday, August 2nd. Royal Bank of Canada restated a buy rating and set a $14.00 target price on shares of Allscripts Healthcare Solutions in a report on Friday, August 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. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $15.39.
Shares of Allscripts Healthcare Solutions stock opened at $9.89 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.61. The company has a market cap of $1.70 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34. Allscripts Healthcare Solutions has a 52 week low of $9.52 and a 52 week high of $16.13.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last announced its earnings results on Thursday, November 1st. The software maker reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The business had revenue of $536.00 million for the quarter, compared to the consensus estimate of $546.09 million. Allscripts Healthcare Solutions had a negative net margin of 0.25% and a positive return on equity of 8.25%. Allscripts Healthcare Solutions’s revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.15 EPS. On average, equities analysts predict that Allscripts Healthcare Solutions will post 0.56 earnings per share for the current fiscal year.
Allscripts Healthcare Solutions declared that its board has initiated a share repurchase program on Thursday, August 2nd that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the software maker to reacquire up to 11.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
In other Allscripts Healthcare Solutions news, EVP Brian Farley sold 6,000 shares of the stock in a transaction on Friday, September 14th. The stock was sold at an average price of $14.67, for a total value of $88,020.00. Following the completion of the transaction, the executive vice president now owns 242,673 shares in the company, valued at $3,560,012.91. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Dennis Olis sold 25,000 shares of the 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 disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of MDRX. Summit Trail Advisors LLC bought a new position in Allscripts Healthcare Solutions in the second quarter worth $105,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Allscripts Healthcare Solutions in the second quarter worth $160,000. Fox Run Management L.L.C. purchased a new stake in shares of Allscripts Healthcare Solutions in the second quarter worth $204,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Allscripts Healthcare Solutions in the second quarter worth $229,000. Finally, Avestar Capital LLC grew its stake in shares of Allscripts Healthcare Solutions by 24.1% in the third quarter. Avestar Capital LLC now owns 20,051 shares of the software maker’s stock worth $270,000 after acquiring an additional 3,899 shares during the last quarter.
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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