Argus Downgrades Allscripts Healthcare Solutions (MDRX) to Hold

Argus lowered shares of Allscripts Healthcare Solutions (NASDAQ:MDRX) from a buy rating to a hold rating in a research report report published on Wednesday, Marketbeat Ratings reports.

Several other research firms have also issued reports on MDRX. TheStreet upgraded shares of Allscripts Healthcare Solutions from a c+ rating to a b- rating in a report on Thursday, September 6th. Zacks Investment Research lowered shares of Allscripts Healthcare Solutions from a hold rating to a sell rating in a report on Thursday, October 4th. BidaskClub upgraded shares of Allscripts Healthcare Solutions from a sell rating to a hold rating in a report on Saturday, August 4th. Cantor Fitzgerald reiterated a buy rating and set a $17.00 price objective on shares of Allscripts Healthcare Solutions in a report on Thursday, August 2nd. Finally, Canaccord Genuity dropped their price objective on shares of Allscripts Healthcare Solutions from $17.00 to $16.00 and set a buy rating on the stock in a report on Friday, August 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Allscripts Healthcare Solutions has a consensus rating of Hold and a consensus price target of $15.51.

MDRX stock opened at $10.26 on Wednesday. The firm has a market capitalization of $1.79 billion, a P/E ratio of 20.12, a PEG ratio of 1.44 and a beta of 1.34. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.61. Allscripts Healthcare Solutions has a 12-month low of $9.52 and a 12-month high of $16.13.

Allscripts Healthcare Solutions (NASDAQ:MDRX) last released its earnings results on Thursday, November 1st. The software maker reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $536.00 million during the quarter, compared to analyst estimates of $546.09 million. Allscripts Healthcare Solutions had a negative net margin of 0.25% and a positive return on equity of 8.25%. Allscripts Healthcare Solutions’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 EPS. Equities analysts anticipate that Allscripts Healthcare Solutions will post 0.54 earnings per share for the current fiscal year.

Allscripts Healthcare Solutions declared that its Board of Directors has authorized a stock repurchase plan on Thursday, August 2nd that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the software maker to reacquire up to 11.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

In other news, EVP Brian Farley sold 6,000 shares of the company’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $14.67, for a total transaction of $88,020.00. Following the transaction, the executive vice president now owns 242,673 shares in the company, valued at $3,560,012.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in MDRX. Summit Trail Advisors LLC acquired a new position in shares of Allscripts Healthcare Solutions during the second quarter valued at about $105,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Allscripts Healthcare Solutions in the 2nd quarter worth about $160,000. Fox Run Management L.L.C. acquired a new stake in shares of Allscripts Healthcare Solutions in the 2nd quarter worth about $204,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Allscripts Healthcare Solutions in the 2nd quarter worth about $229,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Allscripts Healthcare Solutions by 580.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 17,861 shares of the software maker’s stock worth $255,000 after acquiring an additional 15,238 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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