Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Tuesday, June 13th.
A number of other equities analysts also recently weighed in on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $13.00 price target on shares of Allscripts Healthcare Solutions in a report on Monday, May 15th. Maxim Group reissued a “buy” rating and issued a $16.00 price target on shares of Allscripts Healthcare Solutions in a report on Monday, May 15th. Bank of America Corporation started coverage on shares of Allscripts Healthcare Solutions in a report on Monday, May 15th. They issued a “neutral” rating and a $14.00 price target on the stock. Zacks Investment Research raised shares of Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, April 19th. Finally, Wells Fargo & Co raised shares of Allscripts Healthcare Solutions from a “market perform” rating to an “outperform” rating in a report on Monday, March 27th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. Allscripts Healthcare Solutions currently has an average rating of “Hold” and an average price target of $14.59.
Allscripts Healthcare Solutions (NASDAQ:MDRX) traded down 1.06% on Tuesday, hitting $12.08. 3,980,637 shares of the stock traded hands. Allscripts Healthcare Solutions has a 52 week low of $9.80 and a 52 week high of $15.17. The stock’s market cap is $2.19 billion. The firm’s 50 day moving average is $12.03 and its 200 day moving average is $11.76.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last issued its quarterly earnings results on Thursday, May 4th. The software maker reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.01. The company had revenue of $415 million for the quarter, compared to the consensus estimate of $415.20 million. Allscripts Healthcare Solutions had a negative net margin of 2.93% and a positive return on equity of 5.75%. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 EPS. Equities analysts anticipate that Allscripts Healthcare Solutions will post $0.62 earnings per share for the current year.
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In other news, President Richard J. Poulton sold 25,000 shares of the stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $12.06, for a total transaction of $301,500.00. Following the completion of the sale, the president now owns 412,488 shares of the company’s stock, valued at $4,974,605.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Brian Farley sold 15,000 shares of the stock in a transaction that occurred on Thursday, March 23rd. The shares were sold at an average price of $11.63, for a total value of $174,450.00. Following the sale, the senior vice president now directly owns 217,861 shares of the company’s stock, valued at approximately $2,533,723.43. The disclosure for this sale can be found here. 0.75% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in MDRX. FNY Partners Fund LP raised its stake in shares of Allscripts Healthcare Solutions by 900.0% in the first quarter. FNY Partners Fund LP now owns 8,000 shares of the software maker’s stock worth $101,000 after buying an additional 7,200 shares during the last quarter. Sciencast Management LP acquired a new stake in shares of Allscripts Healthcare Solutions during the fourth quarter worth approximately $103,000. Invictus RG acquired a new stake in shares of Allscripts Healthcare Solutions during the first quarter worth approximately $105,000. GSA Capital Partners LLP acquired a new stake in shares of Allscripts Healthcare Solutions during the fourth quarter worth approximately $118,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Allscripts Healthcare Solutions by 9.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,434 shares of the software maker’s stock worth $120,000 after buying an additional 816 shares during the last quarter.
Allscripts Healthcare Solutions Company Profile
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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