Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) had its price target upped by equities researchers at Robert W. Baird from $16.00 to $17.00 in a research report issued to clients and investors on Friday. The firm currently has an “outperform” rating on the software maker’s stock. Robert W. Baird’s price target would suggest a potential upside of 31.38% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on MDRX. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $14.00 target price on shares of Allscripts Healthcare Solutions in a report on Friday, July 21st. Maxim Group reaffirmed a “buy” rating and issued a $16.00 target price on shares of Allscripts Healthcare Solutions in a report on Friday, August 4th. Morgan Stanley upped their target price on shares of Allscripts Healthcare Solutions from $11.00 to $12.00 and gave the company an “underweight” rating in a report on Monday, August 7th. Citigroup Inc. upped their target price on shares of Allscripts Healthcare Solutions from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Monday, August 7th. Finally, Zacks Investment Research raised shares of Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $15.13.
Shares of Allscripts Healthcare Solutions (MDRX) traded up $0.19 during trading hours on Friday, reaching $12.94. 3,153,506 shares of the company’s stock traded hands, compared to its average volume of 1,746,091. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.13. Allscripts Healthcare Solutions has a 52-week low of $9.80 and a 52-week high of $14.45. The company has a market cap of $2,337.12, a PE ratio of 30.09, a PEG ratio of 2.42 and a beta of 1.35.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last issued its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.11 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.04). The business had revenue of $426.10 million for the quarter, compared to the consensus estimate of $424.94 million. Allscripts Healthcare Solutions had a positive return on equity of 6.44% and a negative net margin of 12.23%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $0.14 earnings per share. research analysts expect that Allscripts Healthcare Solutions will post 0.45 EPS for the current year.
In other news, CEO Paul Black sold 15,000 shares of the company’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 transaction of $202,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian Farley sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $13.52, for a total transaction of $67,600.00. Following the sale, the executive vice president now directly owns 196,607 shares of the company’s stock, valued at approximately $2,658,126.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,000 shares of company stock worth $473,800. Company insiders own 0.75% of the company’s stock.
Several institutional investors have recently modified their holdings of MDRX. Wesbanco Bank Inc. lifted its stake in Allscripts Healthcare Solutions by 131.4% in the 2nd quarter. Wesbanco Bank Inc. now owns 147,587 shares of the software maker’s stock valued at $1,883,000 after purchasing an additional 83,807 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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 valued at $117,026,000 after purchasing an additional 1,943,496 shares in the last quarter. Dalton Greiner Hartman Maher & Co. bought a new position in shares of Allscripts Healthcare Solutions during the second quarter valued at about $1,276,000. OppenheimerFunds Inc. lifted its position in shares of Allscripts Healthcare Solutions by 9.4% during the first quarter. OppenheimerFunds Inc. now owns 31,445 shares of the software maker’s stock valued at $399,000 after purchasing an additional 2,701 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of 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 valued at $20,763,000 after purchasing an additional 103,395 shares in the last quarter.
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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