Allscripts Healthcare Solutions’ (MDRX) “Buy” Rating Reiterated at Dougherty & Co
Dougherty & Co restated their buy rating on shares of Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) in a research note released on Tuesday. They currently have a $16.00 price target on the software maker’s stock, up from their prior price target of $15.00.
Other equities analysts also recently issued reports about the company. Cantor Fitzgerald reiterated a buy rating and issued a $17.00 price target (up from $15.00) on shares of Allscripts Healthcare Solutions in a research note on Monday, August 14th. Citigroup Inc. lifted their price target on Allscripts Healthcare Solutions from $13.00 to $14.00 and gave the stock a neutral rating in a research note on Monday, August 7th. Royal Bank Of Canada began coverage on Allscripts Healthcare Solutions in a research note on Tuesday, September 19th. They issued an outperform rating and a $17.00 price target for the company. BidaskClub upgraded Allscripts Healthcare Solutions from a sell rating to a hold rating in a research note on Saturday, June 24th. Finally, Leerink Swann downgraded Allscripts Healthcare Solutions from an outperform rating to a market perform rating and decreased their price target for the stock from $15.00 to $13.00 in a research note on Monday, June 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $15.19.
Shares of Allscripts Healthcare Solutions (NASDAQ MDRX) traded up 0.14% during mid-day trading on Tuesday, reaching $14.39. The company’s stock had a trading volume of 3,477,593 shares. The firm has a 50-day moving average of $13.51 and a 200-day moving average of $12.58. Allscripts Healthcare Solutions has a 52 week low of $9.80 and a 52 week high of $14.45. The firm’s market capitalization is $2.60 billion.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last announced its earnings results on Thursday, August 3rd. The software maker reported $0.11 earnings per share 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 analyst estimates of $424.94 million. Allscripts Healthcare Solutions had a negative net margin of 11.54% and a positive return on equity of 5.97%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.14 earnings per share. Equities research analysts forecast that Allscripts Healthcare Solutions will post $0.62 earnings per share for the current fiscal year.
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In other news, President Richard J. Poulton sold 15,000 shares of Allscripts Healthcare Solutions stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $13.56, for a total transaction of $203,400.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Brian Farley sold 5,000 shares of Allscripts Healthcare Solutions 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 sale, the executive vice president now directly 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 ninety days, insiders have sold 35,000 shares of company stock worth $473,800. Corporate insiders own 0.75% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wesbanco Bank Inc. raised its holdings in shares of Allscripts Healthcare Solutions by 131.4% during the second quarter. Wesbanco Bank Inc. now owns 147,587 shares of the software maker’s stock valued at $1,883,000 after buying an additional 83,807 shares during the last quarter. Thrivent Financial For Lutherans raised its holdings in shares of Allscripts Healthcare Solutions by 255.4% during the first quarter. Thrivent Financial For Lutherans now owns 111,780 shares of the software maker’s stock valued at $1,418,000 after buying an additional 80,330 shares during the last quarter. Dalton Greiner Hartman Maher & Co. bought a new stake in shares of Allscripts Healthcare Solutions during the second quarter valued at approximately $1,276,000. OppenheimerFunds Inc. raised its holdings 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 buying an additional 2,701 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings 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 buying an additional 103,395 shares during the last quarter.
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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