BidaskClub Lowers Allscripts Healthcare Solutions (NASDAQ:MDRX) to Hold

Allscripts Healthcare Solutions (NASDAQ:MDRX) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Wednesday, BidAskClub reports.

Several other brokerages have also recently weighed in on MDRX. ValuEngine cut Welbilt from a “hold” rating to a “sell” rating in a research note on Wednesday, June 12th. Cantor Fitzgerald reissued a “buy” rating and issued a $25.00 price objective on shares of Menlo Therapeutics in a research note on Thursday, May 2nd. Finally, Zacks Investment Research downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $13.29.

Allscripts Healthcare Solutions stock opened at $11.24 on Wednesday. The stock has a market cap of $1.86 billion, a PE ratio of 20.44, a P/E/G ratio of 2.30 and a beta of 1.31. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.04 and a current ratio of 1.04. The firm’s 50 day simple moving average is $10.94. Allscripts Healthcare Solutions has a 52 week low of $8.54 and a 52 week high of $14.97.

Allscripts Healthcare Solutions (NASDAQ:MDRX) last posted its quarterly earnings results on Thursday, May 2nd. The software maker reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.02. Allscripts Healthcare Solutions had a return on equity of 6.92% and a net margin of 20.60%. The business had revenue of $432.00 million for the quarter, compared to analyst estimates of $436.47 million. During the same period in the prior year, the company posted $0.16 EPS. The business’s revenue was down .4% compared to the same quarter last year. Equities analysts forecast that Allscripts Healthcare Solutions will post 0.47 EPS for the current year.

A number of large investors have recently bought and sold shares of MDRX. Hsbc Holdings PLC raised its position in shares of Allscripts Healthcare Solutions by 9.1% during the 4th quarter. Hsbc Holdings PLC now owns 21,640 shares of the software maker’s stock valued at $208,000 after purchasing an additional 1,802 shares during the period. Geode Capital Management LLC boosted its stake in shares of Allscripts Healthcare Solutions by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 2,513,987 shares of the software maker’s stock worth $24,234,000 after purchasing an additional 167,430 shares during the period. Menta Capital LLC boosted its position in Allscripts Healthcare Solutions by 24.2% in the 4th quarter. Menta Capital LLC now owns 13,417 shares of the software maker’s stock valued at $129,000 after buying an additional 2,613 shares during the period. QS Investors LLC boosted its position in Allscripts Healthcare Solutions by 5,105.5% in the 4th quarter. QS Investors LLC now owns 12,337 shares of the software maker’s stock valued at $119,000 after buying an additional 12,100 shares during the period. Finally, Weiss Multi Strategy Advisers LLC boosted its position in Allscripts Healthcare Solutions by 25.0% in the 4th quarter. Weiss Multi Strategy Advisers LLC now owns 25,000 shares of the software maker’s stock valued at $241,000 after buying an additional 5,000 shares during the period.

About Allscripts Healthcare Solutions

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 (EHR), connectivity, private cloud hosting, outsourcing, analytics, patient engagement, clinical decision support, and population health management solutions.

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Analyst Recommendations for Allscripts Healthcare Solutions (NASDAQ:MDRX)

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