Allscripts Healthcare Solutions Inc. (MDRX) Trading 2% Higher
Allscripts Healthcare Solutions Inc. (NASDAQ:MDRX)’s share price traded up 2% during mid-day trading on Wednesday . The company traded as high as $13.22 and last traded at $13.16, with a volume of 1,022,722 shares. The stock had previously closed at $12.90.
A number of equities analysts have weighed in on the stock. Morgan Stanley reaffirmed a “buy” rating on shares of Allscripts Healthcare Solutions in a research note on Thursday. Deutsche Bank AG raised their target price on shares of Allscripts Healthcare Solutions from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Argus raised shares of Allscripts Healthcare Solutions from a “hold” rating to a “buy” rating in a research note on Thursday. Jefferies Group reaffirmed a “buy” rating on shares of Allscripts Healthcare Solutions in a research note on Tuesday, July 5th. Finally, Zacks Investment Research raised shares of Allscripts Healthcare Solutions from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Tuesday, August 9th. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $16.31.
The firm has a market cap of $2.40 billion and a price-to-earnings ratio of 803.75. The firm has a 50-day moving average of $13.67 and a 200 day moving average of $13.18.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.14 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. The firm had revenue of $386.50 million for the quarter, compared to analyst estimates of $403.13 million. Allscripts Healthcare Solutions’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.12 earnings per share. On average, equities analysts forecast that Allscripts Healthcare Solutions Inc. will post $0.59 earnings per share for the current fiscal year.
In related news, President Richard J. Poulton sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $13.03, for a total transaction of $130,300.00. Following the completion of the sale, the president now directly owns 343,813 shares in the company, valued at $4,479,883.39. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP James Hewitt sold 17,500 shares of the firm’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $13.00, for a total transaction of $227,500.00. Following the sale, the senior vice president now owns 175,604 shares of the company’s stock, valued at $2,282,852. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Allscripts Healthcare Solutions stock. Airain ltd increased its stake in Allscripts Healthcare Solutions Inc. (NASDAQ:MDRX) by 440.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 161,462 shares of the company’s stock after buying an additional 131,572 shares during the period. Airain ltd owned 0.09% of Allscripts Healthcare Solutions worth $2,483,000 at the end of the most recent reporting period.
Allscripts Healthcare Solutions, Inc delivers information technology (IT) and services to help healthcare organizations in clinical, financial and operational results. The Company operates through two segments: Clinical and Financial Solutions, and Population Health. The Clinical and Financial Solutions segment includes the sale of integrated clinical software applications and financial and information solutions, which primarily include electronic health record (EHR)-related software, financial and practice management software, related installation, support and maintenance, outsourcing, hosting, revenue cycle management, training and electronic claims administration services.
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