Allscripts Healthcare Solutions (MDRX) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Allscripts Healthcare Solutions (NASDAQ:MDRX) from a sell rating to a hold rating in a research note issued to investors on Thursday.
According to Zacks, “Allscripts continues to gain from its core software, delivery, support and maintenance units, which projected solid growth in recent times. The company’s growth in revenue cycle services and acquisition of McKesson’s EIS business has lent it a competitive edge. The recently-closed acquisition of HealthGrid is likely to boost its flagship FollowMyHealth patient engagement platform. On the negative side, Allscripts' margins are under pressure due to decline in non-recurring software license revenues in recent times. Year-over-year decline in bookings is a concern. In fact, management expects to see some volatility in bookings in the quarters ahead. The company also witnessed significant contraction in margins lately. The company is exposed to integration risks. Intense competition in the MedTech space adds to woes. Allscripts underperformed the industry in a year's time. “
Several other brokerages also recently weighed in on MDRX. SunTrust Banks downgraded Allscripts Healthcare Solutions from a buy rating to a hold rating in a research report on Friday, November 2nd. BidaskClub downgraded Allscripts Healthcare Solutions from a hold rating to a sell rating in a research report on Saturday, November 3rd. Robert W. Baird dropped their price objective on Allscripts Healthcare Solutions from $16.00 to $14.00 and set an outperform rating for the company in a research report on Friday, November 2nd. ValuEngine downgraded Allscripts Healthcare Solutions from a hold rating to a sell rating in a research report on Friday, November 2nd. Finally, Citigroup dropped their price objective on Allscripts Healthcare Solutions from $19.00 to $17.00 and set a buy rating for the company in a research report on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. Allscripts Healthcare Solutions currently has an average rating of Hold and an average target price of $15.51.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last announced its quarterly earnings data on Thursday, November 1st. The software maker reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). Allscripts Healthcare Solutions had a positive return on equity of 8.25% and a negative net margin of 0.25%. The business had revenue of $536.00 million for the quarter, compared to the consensus estimate of $546.09 million. During the same quarter in the prior year, the company earned $0.15 earnings per share. Allscripts Healthcare Solutions’s quarterly revenue was up 18.8% compared to the same quarter last year. Equities analysts forecast that Allscripts Healthcare Solutions will post 0.54 earnings per share for the current year.
In other Allscripts Healthcare Solutions news, President Richard J. Poulton sold 60,000 shares of the stock in a transaction dated Thursday, December 13th. The stock was sold at an average price of $9.82, for a total value of $589,200.00. Following the completion of the transaction, the president now directly owns 479,520 shares in the company, valued at $4,708,886.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul Black bought 24,765 shares of the company’s stock in a transaction on Wednesday, December 12th. The stock was purchased at an average price of $10.10 per share, with a total value of $250,126.50. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc raised its position in Allscripts Healthcare Solutions by 1.0% in the third quarter. Vanguard Group Inc now owns 15,851,184 shares of the software maker’s stock valued at $225,880,000 after purchasing an additional 153,769 shares during the last quarter. Marshall Wace LLP bought a new position in Allscripts Healthcare Solutions in the third quarter valued at about $1,406,000. Vanguard Group Inc. raised its position in Allscripts Healthcare Solutions by 1.0% in the third quarter. Vanguard Group Inc. now owns 15,851,184 shares of the software maker’s stock valued at $225,880,000 after purchasing an additional 153,769 shares during the last quarter. Teachers Advisors LLC raised its position in Allscripts Healthcare Solutions by 0.6% in the third quarter. Teachers Advisors LLC now owns 921,374 shares of the software maker’s stock valued at $13,130,000 after purchasing an additional 5,830 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Allscripts Healthcare Solutions by 492.2% in the third quarter. AQR Capital Management LLC now owns 118,985 shares of the software maker’s stock valued at $1,696,000 after purchasing an additional 98,892 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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