Allscripts Healthcare Solutions, Inc. (MDRX) Earns Hold Rating from Piper Jaffray Companies

Piper Jaffray Companies reaffirmed their hold rating on shares of Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) in a research note released on Friday morning. They currently have a $14.00 target price on the software maker’s stock.

MDRX has been the subject of several other reports. Bank of America Corporation assumed coverage on shares of Allscripts Healthcare Solutions in a research note on Monday, May 15th. They set a neutral rating and a $14.00 price objective for the company. BidaskClub upgraded shares of Allscripts Healthcare Solutions from a strong sell rating to a sell rating in a research note on Tuesday, June 13th. Wells Fargo & Company upgraded shares of Allscripts Healthcare Solutions from a market perform rating to an outperform rating in a research note on Monday, March 27th. Maxim Group reiterated a buy rating and set a $16.00 price objective on shares of Allscripts Healthcare Solutions in a research note on Friday, May 5th. Finally, Cantor Fitzgerald reiterated a neutral rating and set a $13.00 price objective on shares of Allscripts Healthcare Solutions in a research note on Monday, May 15th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $14.74.

Shares of Allscripts Healthcare Solutions (NASDAQ:MDRX) opened at 12.10 on Friday. Allscripts Healthcare Solutions has a 12 month low of $9.80 and a 12 month high of $15.17. The stock has a 50 day moving average price of $12.40 and a 200-day moving average price of $12.04. The company’s market capitalization is $2.20 billion.

Allscripts Healthcare Solutions (NASDAQ:MDRX) last released its quarterly earnings results on Thursday, May 4th. The software maker reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.01. Allscripts Healthcare Solutions had a negative net margin of 2.93% and a positive return on equity of 5.75%. The business had revenue of $415 million for the quarter, compared to analyst estimates of $415.20 million. During the same period in the previous year, the company earned $0.13 earnings per share. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. Analysts forecast that Allscripts Healthcare Solutions will post $0.62 EPS for the current year.

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In other Allscripts Healthcare Solutions news, President Richard J. Poulton sold 25,000 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $12.06, for a total value of $301,500.00. Following the sale, the president now directly owns 412,488 shares of the company’s stock, valued at approximately $4,974,605.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.75% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. FNY Partners Fund LP increased 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 in the last quarter. Invictus RG bought a new position in Allscripts Healthcare Solutions during the first quarter worth approximately $105,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in 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 period. Bank of Montreal Can increased its position in Allscripts Healthcare Solutions by 60.2% in the first quarter. Bank of Montreal Can now owns 9,914 shares of the software maker’s stock worth $126,000 after buying an additional 3,724 shares during the period. Finally, Flinton Capital Management LLC increased its position in Allscripts Healthcare Solutions by 4.1% in the first quarter. Flinton Capital Management LLC now owns 9,940 shares of the software maker’s stock worth $126,000 after buying an additional 392 shares during the period.

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.

Analyst Recommendations for Allscripts Healthcare Solutions (NASDAQ:MDRX)

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