Allscripts Healthcare Solutions (MDRX) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Allscripts Healthcare Solutions (NASDAQ:MDRX) from a hold rating to a sell rating in a research note published on Friday morning.

According to Zacks, “Allscripts has had a favorable run on the bourses over the last year, trading above the broader industry. However, the company’s continued reliance on mergers and acquisition activities poses substantial integration risks. Further, intensifying competition is a major dampener. The company’s products have a long sales cycle which involves intensive decision-making at different managerial levels. The company also expects a modest increase in operating expenses to support business growth. On a positive note, a solid guidance for 2017 and an encouraging long-term outlook are the key highlights of the quarter. Also, the expansion in margin is encouraging. The company’s solid growth in U.S. Core Solutions and Services, fueled by Sunrise electronic health record (EHR) platform and Allscripts Revenue Cycle Management Services, buoys optimism.”

Other research analysts have also issued reports about the stock. Royal Bank of Canada set a $19.00 price objective on shares of Allscripts Healthcare Solutions and gave the stock a buy rating in a report on Thursday. Citigroup began coverage on shares of Allscripts Healthcare Solutions in a report on Thursday, January 4th. They issued a buy rating for the company. Robert W. Baird restated a buy rating and issued a $16.00 price objective on shares of Allscripts Healthcare Solutions in a report on Tuesday, October 17th. KeyCorp restated a hold rating on shares of Allscripts Healthcare Solutions in a report on Friday, October 27th. Finally, Dougherty & Co restated a buy rating and issued a $16.00 price objective (up from $15.00) on shares of Allscripts Healthcare Solutions in a report on Tuesday, October 3rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $15.53.

Shares of Allscripts Healthcare Solutions (MDRX) traded up $0.09 during midday trading on Friday, reaching $16.03. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.98 and a current ratio of 0.98. Allscripts Healthcare Solutions has a fifty-two week low of $11.01 and a fifty-two week high of $16.12. The firm has a market capitalization of $2,900.00, a P/E ratio of -13.82, a price-to-earnings-growth ratio of 2.27 and a beta of 1.32.

Allscripts Healthcare Solutions (NASDAQ:MDRX) last issued its quarterly earnings data on Thursday, November 2nd. The software maker reported $0.12 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. Allscripts Healthcare Solutions had a negative net margin of 12.23% and a positive return on equity of 6.53%. analysts predict that Allscripts Healthcare Solutions will post 0.46 earnings per share for the current fiscal year.

In related news, EVP Brian Farley sold 5,000 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $14.35, for a total value of $71,750.00. Following the completion of the transaction, the executive vice president now directly owns 191,607 shares in the company, valued at approximately $2,749,560.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP James Hewitt sold 36,796 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $14.11, for a total transaction of $519,191.56. Following the completion of the transaction, the senior vice president now owns 181,766 shares of the company’s stock, valued at $2,564,718.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,796 shares of company stock valued at $804,842. 0.91% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in MDRX. Fisher Asset Management LLC purchased a new stake in Allscripts Healthcare Solutions during the 3rd quarter valued at about $33,351,000. Dimensional Fund Advisors LP boosted its holdings in shares of Allscripts Healthcare Solutions by 26.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,171,285 shares of the software maker’s stock valued at $117,026,000 after acquiring an additional 1,943,496 shares during the last quarter. Systematic Financial Management LP boosted its holdings in shares of Allscripts Healthcare Solutions by 1,215.3% during the 3rd quarter. Systematic Financial Management LP now owns 1,853,300 shares of the software maker’s stock valued at $26,372,000 after acquiring an additional 1,712,395 shares during the last quarter. State Street Corp boosted its holdings in shares of Allscripts Healthcare Solutions by 28.6% during the 2nd quarter. State Street Corp now owns 5,975,551 shares of the software maker’s stock valued at $76,251,000 after acquiring an additional 1,330,721 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Allscripts Healthcare Solutions by 70.8% during the 2nd quarter. Northern Trust Corp now owns 2,930,365 shares of the software maker’s stock valued at $37,391,000 after acquiring an additional 1,215,020 shares during the last quarter.

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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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