Zacks: Brokerages Anticipate Allscripts Healthcare Solutions Inc (MDRX) Will Post Quarterly Sales of $534.93 Million

Wall Street analysts predict that Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) will announce $534.93 million in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have issued estimates for Allscripts Healthcare Solutions’ earnings. The lowest sales estimate is $526.88 million and the highest is $547.00 million. Allscripts Healthcare Solutions posted sales of $427.70 million in the same quarter last year, which suggests a positive year over year growth rate of 25.1%. The business is expected to report its next earnings report on Thursday, August 2nd.

On average, analysts expect that Allscripts Healthcare Solutions will report full-year sales of $2.17 billion for the current fiscal year, with estimates ranging from $2.15 billion to $2.20 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.27 billion per share, with estimates ranging from $2.22 billion to $2.32 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Allscripts Healthcare Solutions.

Allscripts Healthcare Solutions (NASDAQ:MDRX) last posted its quarterly earnings data on Thursday, May 3rd. The software maker reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.01). The company had revenue of $518.60 million for the quarter, compared to analyst estimates of $527.34 million. Allscripts Healthcare Solutions had a positive return on equity of 7.80% and a negative net margin of 11.34%. The business’s revenue was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.13 earnings per share.

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Allscripts Healthcare Solutions in a research report on Tuesday, April 24th. They set an “overweight” rating and a $16.00 price objective for the company. TheStreet upgraded shares of Allscripts Healthcare Solutions from a “c” rating to a “b-” rating in a research report on Thursday, February 15th. ValuEngine upgraded shares of Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a research report on Thursday, May 17th. BidaskClub upgraded shares of Allscripts Healthcare Solutions from a “hold” rating to a “buy” rating in a research report on Friday, February 16th. Finally, Maxim Group restated a “buy” rating and set a $18.00 price objective on shares of Allscripts Healthcare Solutions in a research report on Friday, May 4th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. Allscripts Healthcare Solutions has a consensus rating of “Buy” and an average price target of $16.01.

In other news, EVP Brian Farley sold 5,000 shares of the stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $13.73, for a total value of $68,650.00. Following the completion of the sale, the executive vice president now directly owns 240,672 shares in the company, valued at $3,304,426.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Richard J. Poulton sold 15,000 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $13.53, for a total transaction of $202,950.00. Following the completion of the sale, the president now owns 505,920 shares of the company’s stock, valued at $6,845,097.60. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC raised its position in shares of Allscripts Healthcare Solutions by 89.3% in the fourth quarter. Jane Street Group LLC now owns 114,068 shares of the software maker’s stock valued at $1,660,000 after buying an additional 53,801 shares during the last quarter. ING Groep NV grew its holdings in shares of Allscripts Healthcare Solutions by 23.3% in the fourth quarter. ING Groep NV now owns 27,263 shares of the software maker’s stock valued at $397,000 after purchasing an additional 5,143 shares during the period. MetLife Investment Advisors LLC purchased a new stake in shares of Allscripts Healthcare Solutions in the fourth quarter valued at about $2,905,000. Alliancebernstein L.P. grew its holdings in shares of Allscripts Healthcare Solutions by 51.4% in the fourth quarter. Alliancebernstein L.P. now owns 441,534 shares of the software maker’s stock valued at $6,424,000 after purchasing an additional 149,810 shares during the period. Finally, Millrace Asset Group Inc. grew its holdings in shares of Allscripts Healthcare Solutions by 22.8% in the fourth quarter. Millrace Asset Group Inc. now owns 116,675 shares of the software maker’s stock valued at $1,697,000 after purchasing an additional 21,675 shares during the period.

Allscripts Healthcare Solutions traded up $0.03, reaching $12.49, during trading hours on Friday, Marketbeat reports. 6,100 shares of the company were exchanged, compared to its average volume of 1,360,560. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $2.25 billion, a PE ratio of 26.64, a P/E/G ratio of 1.68 and a beta of 1.26. Allscripts Healthcare Solutions has a twelve month low of $10.78 and a twelve month high of $16.13.

About Allscripts Healthcare Solutions

Allscripts Healthcare Solutions, Inc provides information technology solutions and services to healthcare organizations in the United States, Canada, and internationally. It offers electronic health records, connectivity, private cloud hosting, outsourcing, analytics, patient engagement, clinical decision support, and population health management solutions.

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