Allscripts Healthcare Solutions, Inc. (MDRX) Shares Gap Up Following Analyst Upgrade

Shares of Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) gapped up before the market opened on Friday after Robert W. Baird raised their price target on the stock from $16.00 to $17.00. The stock had previously closed at $11.19, but opened at $12.74. Robert W. Baird currently has an outperform rating on the stock. Allscripts Healthcare Solutions shares last traded at $12.89, with a volume of 2328579 shares.

Several other analysts have also commented on MDRX. Citigroup Inc. raised their target price on Allscripts Healthcare Solutions from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Monday, August 7th. Zacks Investment Research raised Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Cantor Fitzgerald raised Allscripts Healthcare Solutions from a “neutral” rating to an “overweight” rating and set a $12.00 target price on the stock in a report on Tuesday, August 15th. Maxim Group reaffirmed a “buy” rating and set a $16.00 target price on shares of Allscripts Healthcare Solutions in a report on Friday, August 4th. Finally, Royal Bank Of Canada began coverage on Allscripts Healthcare Solutions in a report on Tuesday, September 19th. They set an “outperform” rating and a $17.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $15.07.

In other news, President Richard J. Poulton sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $13.56, for a total value of $203,400.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Brian Farley sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $13.52, for a total value of $67,600.00. Following the completion of the transaction, 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. In the last 90 days, insiders sold 35,000 shares of company stock worth $473,800. Company insiders own 0.75% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Wesbanco Bank Inc. lifted its position in Allscripts Healthcare Solutions by 131.4% during the second quarter. Wesbanco Bank Inc. now owns 147,587 shares of the software maker’s stock worth $1,883,000 after buying an additional 83,807 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Allscripts Healthcare Solutions by 26.9% during 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 in the last quarter. Dalton Greiner Hartman Maher & Co. purchased a new position in Allscripts Healthcare Solutions during the second quarter worth approximately $1,276,000. OppenheimerFunds Inc. lifted its position in Allscripts Healthcare Solutions by 9.4% during the first quarter. OppenheimerFunds Inc. now owns 31,445 shares of the software maker’s stock worth $399,000 after buying an additional 2,701 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Allscripts Healthcare Solutions by 6.8% during the second quarter. Victory Capital Management Inc. now owns 1,627,164 shares of the software maker’s stock worth $20,763,000 after buying an additional 103,395 shares in the last quarter.

The firm has a market capitalization of $2.30 billion, a PE ratio of 29.65 and a beta of 1.35.

Allscripts Healthcare Solutions (NASDAQ:MDRX) last announced its quarterly earnings data 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 6.44% and a negative net margin of 12.23%. The company had revenue of $426.10 million for the quarter, compared to analysts’ expectations of $424.94 million. During the same quarter in the previous year, the business posted $0.14 EPS. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. equities research analysts anticipate that Allscripts Healthcare Solutions, Inc. will post 0.45 earnings per share for the current year.

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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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