Zacks: Analysts Expect Allscripts Healthcare Solutions, Inc. (MDRX) Will Post Quarterly Sales of $430.10 Million

Equities research analysts expect Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) to report sales of $430.10 million for the current quarter, Zacks reports. Ten analysts have made estimates for Allscripts Healthcare Solutions’ earnings. The lowest sales estimate is $424.20 million and the highest is $441.10 million. Allscripts Healthcare Solutions reported sales of $404.10 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.4%. The business is expected to issue its next earnings results after the market closes on Thursday, November 2nd.

According to Zacks, analysts expect that Allscripts Healthcare Solutions will report full-year sales of $430.10 million for the current year, with estimates ranging from $1.79 billion to $1.81 billion. For the next fiscal year, analysts forecast that the company will report sales of $2.13 billion per share, with estimates ranging from $2.08 billion to $2.18 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Allscripts Healthcare Solutions.

Allscripts Healthcare Solutions (NASDAQ:MDRX) last issued its earnings results on Thursday, August 3rd. The software maker reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). The company had revenue of $426.10 million during the quarter, compared to analysts’ expectations of $424.94 million. Allscripts Healthcare Solutions had a positive return on equity of 5.97% and a negative net margin of 11.54%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 EPS.

A number of brokerages have weighed in on MDRX. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $17.00 price objective (up previously from $15.00) on shares of Allscripts Healthcare Solutions in a report on Monday, August 14th. Citigroup Inc. lifted their price objective on Allscripts Healthcare Solutions from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Monday, August 7th. Royal Bank Of Canada began coverage on Allscripts Healthcare Solutions in a report on Tuesday, September 19th. They issued an “outperform” rating and a $17.00 price objective on the stock. BidaskClub raised Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. Finally, Leerink Swann lowered Allscripts Healthcare Solutions from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $15.00 to $13.00 in a report on Monday, June 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $15.19.

In related news, President Richard J. Poulton sold 15,000 shares of Allscripts Healthcare Solutions stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $13.56, for a total transaction of $203,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian Farley sold 5,000 shares of Allscripts Healthcare Solutions stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $13.52, for a total value of $67,600.00. Following the transaction, the executive vice president now owns 196,607 shares of the company’s stock, valued at $2,658,126.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,000 shares of company stock valued at $473,800. Insiders own 0.75% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Archford Capital Strategies LLC raised its position in shares of Allscripts Healthcare Solutions by 6,124.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 6,224 shares of the software maker’s stock worth $958,000 after purchasing an additional 6,124 shares during the last quarter. North Star Asset Management Inc. raised its position in shares of Allscripts Healthcare Solutions by 1.1% during the 2nd quarter. North Star Asset Management Inc. now owns 630,668 shares of the software maker’s stock worth $8,047,000 after purchasing an additional 6,795 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of Allscripts Healthcare Solutions by 5.4% during the 2nd quarter. Sterling Capital Management LLC now owns 94,511 shares of the software maker’s stock worth $1,206,000 after purchasing an additional 4,875 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Allscripts Healthcare Solutions by 30.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 69,163 shares of the software maker’s stock worth $883,000 after purchasing an additional 15,950 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Allscripts Healthcare Solutions by 53.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 401,444 shares of the software maker’s stock worth $5,123,000 after purchasing an additional 140,438 shares during the last quarter.

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About Allscripts Healthcare Solutions

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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