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.
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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