Allscripts Healthcare Solutions (MDRX) Downgraded to “Hold” at BidaskClub
Allscripts Healthcare Solutions (NASDAQ:MDRX) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
A number of other research firms also recently commented on MDRX. Citigroup started coverage on Allscripts Healthcare Solutions in a report on Thursday, January 4th. They issued a “buy” rating on the stock. Zacks Investment Research upgraded Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. Royal Bank of Canada set a $19.00 price objective on Allscripts Healthcare Solutions and gave the stock a “buy” rating in a report on Thursday, January 11th. Cantor Fitzgerald restated a “buy” rating and issued a $17.00 price objective on shares of Allscripts Healthcare Solutions in a report on Monday, January 8th. Finally, Bank of America began coverage on Allscripts Healthcare Solutions in a report on Tuesday, February 27th. They issued a “buy” rating and a $17.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $16.09.
Allscripts Healthcare Solutions (NASDAQ:MDRX) traded down $0.09 during trading on Wednesday, hitting $13.65. The stock had a trading volume of 749,509 shares, compared to its average volume of 2,039,009. The stock has a market cap of $2,539.14, a P/E ratio of -12.50, a price-to-earnings-growth ratio of 1.82 and a beta of 1.20. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.33. Allscripts Healthcare Solutions has a 52 week low of $11.25 and a 52 week high of $16.13.
In other Allscripts Healthcare Solutions news, President Richard J. Poulton sold 15,000 shares of Allscripts Healthcare Solutions stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $14.26, for a total transaction of $213,900.00. Following the sale, the president now directly owns 1,351,773 shares in the company, valued at approximately $19,276,282.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian Farley sold 5,000 shares of Allscripts Healthcare Solutions stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $14.35, for a total value of $71,750.00. Following the sale, the executive vice president now owns 191,607 shares in the company, valued at $2,749,560.45. The disclosure for this sale can be found here. Company insiders own 0.91% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Xact Kapitalforvaltning AB purchased a new stake in Allscripts Healthcare Solutions during the 4th quarter worth approximately $314,000. Sterling Capital Management LLC purchased a new stake in Allscripts Healthcare Solutions during the 4th quarter worth approximately $1,410,000. MetLife Investment Advisors LLC purchased a new stake in Allscripts Healthcare Solutions during the 4th quarter worth approximately $2,905,000. Gotham Asset Management LLC increased its holdings in Allscripts Healthcare Solutions by 59.0% during the 4th quarter. Gotham Asset Management LLC now owns 57,019 shares of the software maker’s stock worth $830,000 after purchasing an additional 21,148 shares during the last quarter. Finally, Redmile Group LLC purchased a new stake in Allscripts Healthcare Solutions during the 4th quarter worth approximately $25,762,000.
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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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