Allscripts Healthcare Solutions’ (MDRX) Buy Rating Reaffirmed at Robert W. Baird
Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX)‘s stock had its “buy” rating restated by equities researchers at Robert W. Baird in a report released on Tuesday. They presently have a $16.00 price objective on the software maker’s stock. Robert W. Baird’s price target would suggest a potential upside of 15.77% from the stock’s current price.
MDRX has been the subject of a number of other reports. Cantor Fitzgerald raised Allscripts Healthcare Solutions from a “neutral” rating to an “overweight” rating and set a $12.00 price target for the company in a report on Tuesday, August 15th. Leerink Swann lowered Allscripts Healthcare Solutions from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $15.00 to $13.00 in a report on Monday, June 19th. BidaskClub raised Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. Dougherty & Co reaffirmed a “buy” rating and issued a $16.00 price target (up from $15.00) on shares of Allscripts Healthcare Solutions in a report on Tuesday, October 3rd. Finally, Zacks Investment Research raised Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $15.24.
Shares of Allscripts Healthcare Solutions (MDRX) traded up 0.72% during trading on Tuesday, reaching $13.92. The company’s stock had a trading volume of 447,576 shares. Allscripts Healthcare Solutions has a 52-week low of $9.80 and a 52-week high of $14.45. The stock’s market cap is $2.51 billion. The stock has a 50-day moving average of $13.72 and a 200-day moving average of $12.66.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last posted its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate 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 during the quarter, compared to the consensus estimate of $424.94 million. During the same period in the previous year, the business earned $0.14 earnings per share. Allscripts Healthcare Solutions’s revenue was up 10.2% on a year-over-year basis. Analysts predict that Allscripts Healthcare Solutions will post $0.61 earnings per share for the current fiscal year.
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In other Allscripts Healthcare Solutions news, President Richard J. Poulton sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $13.56, for a total transaction of $203,400.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Brian Farley sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $13.52, for a total value of $67,600.00. Following the sale, the executive vice president now owns 196,607 shares in the company, valued at approximately $2,658,126.64. The disclosure for this sale can be found here. Insiders have sold 35,000 shares of company stock worth $473,800 in the last 90 days. Company insiders own 0.75% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Allscripts Healthcare Solutions by 1.2% during the second quarter. Vanguard Group Inc. now owns 14,824,640 shares of the software maker’s stock valued at $189,162,000 after purchasing an additional 181,721 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Allscripts Healthcare Solutions by 26.9% in the second quarter. Dimensional Fund Advisors LP now owns 9,171,285 shares of the software maker’s stock worth $117,026,000 after buying an additional 1,943,496 shares during the period. Fiduciary Management Inc. WI increased its holdings in shares of Allscripts Healthcare Solutions by 0.6% in the second quarter. Fiduciary Management Inc. WI now owns 6,083,536 shares of the software maker’s stock worth $77,626,000 after buying an additional 38,426 shares during the period. State Street Corp increased its holdings in shares of Allscripts Healthcare Solutions by 28.6% in the second quarter. State Street Corp now owns 5,975,551 shares of the software maker’s stock worth $76,251,000 after buying an additional 1,330,721 shares during the period. Finally, Boston Partners increased its holdings in shares of Allscripts Healthcare Solutions by 16.5% in the second quarter. Boston Partners now owns 5,415,576 shares of the software maker’s stock worth $69,102,000 after buying an additional 767,249 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.
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