Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) had its target price increased by research analysts at Morgan Stanley from $11.00 to $12.00 in a research note issued to investors on Monday. The firm presently has an “underweight” rating on the software maker’s stock. Morgan Stanley’s price objective indicates a potential downside of 7.62% from the stock’s current price.

Several other analysts have also recently weighed in on MDRX. Maxim Group reiterated a “buy” rating and issued a $16.00 price objective on shares of Allscripts Healthcare Solutions in a research note on Friday, August 4th. Piper Jaffray Companies reiterated a “hold” rating and issued a $14.00 price objective on shares of Allscripts Healthcare Solutions in a research note on Friday, July 21st. Bank of America Corporation assumed coverage on shares of Allscripts Healthcare Solutions in a research note on Monday, May 15th. They issued a “neutral” rating and a $14.00 price objective for the company. BidaskClub upgraded shares of Allscripts Healthcare Solutions from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $13.00 price objective on shares of Allscripts Healthcare Solutions in a research note on Monday, May 15th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $14.74.

Shares of Allscripts Healthcare Solutions (MDRX) opened at 12.99 on Monday. The company’s market cap is $2.36 billion. Allscripts Healthcare Solutions has a 1-year low of $9.80 and a 1-year high of $15.17. The company has a 50-day moving average of $12.46 and a 200-day moving average of $12.12.

Allscripts Healthcare Solutions (NASDAQ:MDRX) last posted its earnings results 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. Allscripts Healthcare Solutions had a positive return on equity of 5.97% and a negative net margin of 11.54%. The company had revenue of $426.10 million for the quarter, compared to analyst estimates of $424.94 million. During the same quarter in the prior year, the business posted $0.14 EPS. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities analysts forecast that Allscripts Healthcare Solutions will post $0.62 EPS for the current year.

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In related news, President Richard J. Poulton sold 25,000 shares of Allscripts Healthcare Solutions stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $12.06, for a total transaction of $301,500.00. Following the sale, the president now directly owns 412,488 shares of the company’s stock, valued at approximately $4,974,605.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.75% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. World Asset Management Inc raised its stake in shares of Allscripts Healthcare Solutions by 0.7% in the second quarter. World Asset Management Inc now owns 11,419 shares of the software maker’s stock valued at $146,000 after buying an additional 81 shares during the period. Advantus Capital Management Inc raised its stake in shares of Allscripts Healthcare Solutions by 0.5% in the first quarter. Advantus Capital Management Inc now owns 23,112 shares of the software maker’s stock valued at $293,000 after buying an additional 109 shares during the period. Capstone Asset Management Co. raised its stake in shares of Allscripts Healthcare Solutions by 1.4% in the first quarter. Capstone Asset Management Co. now owns 16,977 shares of the software maker’s stock valued at $215,000 after buying an additional 230 shares during the period. Flinton Capital Management LLC raised its stake in shares of Allscripts Healthcare Solutions by 4.1% in the first quarter. Flinton Capital Management LLC now owns 9,940 shares of the software maker’s stock valued at $126,000 after buying an additional 392 shares during the period. Finally, Neuburgh Advisers LLC raised its stake in shares of Allscripts Healthcare Solutions by 4.1% in the first quarter. Neuburgh Advisers LLC now owns 12,070 shares of the software maker’s stock valued at $153,000 after buying an additional 476 shares during the period.

Allscripts Healthcare Solutions Company Profile

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.

Analyst Recommendations for Allscripts Healthcare Solutions (NASDAQ:MDRX)

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