Allscripts Healthcare Solutions (NASDAQ:MDRX) Rating Increased to Sell at BidaskClub

Allscripts Healthcare Solutions (NASDAQ:MDRX) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Wednesday, BidAskClub reports.

Other equities analysts have also recently issued reports about the company. Robert W. Baird set a $13.00 target price on Allscripts Healthcare Solutions and gave the stock a “buy” rating in a report on Monday, August 12th. ValuEngine cut Allscripts Healthcare Solutions from a “hold” rating to a “sell” rating in a report on Friday, July 26th. TheStreet cut Allscripts Healthcare Solutions from a “c-” rating to a “d+” rating in a report on Tuesday, August 13th. Jefferies Financial Group started coverage on Allscripts Healthcare Solutions in a report on Friday, August 23rd. They issued a “buy” rating and a $13.00 target price on the stock. Finally, Evercore ISI restated a “hold” rating and issued a $11.50 target price on shares of Allscripts Healthcare Solutions in a report on Sunday, August 11th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $12.36.

MDRX traded up $0.02 during trading hours on Wednesday, hitting $10.40. The company’s stock had a trading volume of 31,009 shares, compared to its average volume of 1,385,612. Allscripts Healthcare Solutions has a fifty-two week low of $8.54 and a fifty-two week high of $14.82. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $1.73 billion, a PE ratio of 19.11, a PEG ratio of 1.94 and a beta of 1.38. The company has a 50-day simple moving average of $9.58 and a 200 day simple moving average of $10.19.

Allscripts Healthcare Solutions (NASDAQ:MDRX) last posted its earnings results on Thursday, August 8th. The software maker reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. Allscripts Healthcare Solutions had a return on equity of 6.17% and a net margin of 9.85%. The firm had revenue of $444.50 million for the quarter, compared to analysts’ expectations of $449.03 million. During the same period last year, the firm earned $0.18 EPS. The firm’s revenue was up .7% compared to the same quarter last year. Research analysts expect that Allscripts Healthcare Solutions will post 0.48 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Allscripts Healthcare Solutions by 2.2% in the second quarter. Vanguard Group Inc. now owns 16,523,536 shares of the software maker’s stock worth $192,169,000 after buying an additional 363,005 shares during the period. Tamarack Advisers LP boosted its position in shares of Allscripts Healthcare Solutions by 10.6% in the second quarter. Tamarack Advisers LP now owns 3,925,000 shares of the software maker’s stock worth $45,726,000 after buying an additional 375,000 shares during the period. Neuberger Berman Group LLC boosted its position in shares of Allscripts Healthcare Solutions by 8.3% in the first quarter. Neuberger Berman Group LLC now owns 3,121,749 shares of the software maker’s stock worth $29,786,000 after buying an additional 239,288 shares during the period. Northern Trust Corp boosted its position in shares of Allscripts Healthcare Solutions by 9.7% in the second quarter. Northern Trust Corp now owns 2,906,636 shares of the software maker’s stock worth $33,804,000 after buying an additional 256,892 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Allscripts Healthcare Solutions by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 2,513,987 shares of the software maker’s stock worth $24,234,000 after buying an additional 167,430 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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