Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) was upgraded by analysts at Cowen and Company from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, September 11th, Marketbeat.com reports. The firm currently has a $16.00 price objective on the software maker’s stock, up from their previous price objective of $13.00. Cowen and Company’s price target would indicate a potential upside of 15.86% from the stock’s current price.
Several other research analysts have also recently issued reports on the stock. Leerink Swann cut shares of Allscripts Healthcare Solutions from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $15.00 to $13.00 in a report on Monday, June 19th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $13.00 price objective on shares of Allscripts Healthcare Solutions in a report on Monday, May 15th. Maxim Group reiterated a “buy” rating and issued a $16.00 price objective on shares of Allscripts Healthcare Solutions in a report on Monday, May 15th. Piper Jaffray Companies restated a “hold” rating and set a $14.00 target price on shares of Allscripts Healthcare Solutions in a report on Friday, July 21st. Finally, BidaskClub upgraded shares of Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $14.94.
Shares of Allscripts Healthcare Solutions (MDRX) opened at 13.81 on Monday. The firm’s market cap is $2.49 billion. Allscripts Healthcare Solutions has a 52-week low of $9.80 and a 52-week high of $13.97. The stock’s 50 day moving average price is $13.01 and its 200-day moving average price is $12.40.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last posted its quarterly earnings data on Thursday, August 3rd. The software maker reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.04). The company had revenue of $426.10 million during the quarter, compared to the consensus estimate of $424.94 million. Allscripts Healthcare Solutions had a negative net margin of 11.54% and a positive return on equity of 5.97%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business earned $0.14 earnings per share. On average, equities research analysts anticipate that Allscripts Healthcare Solutions will post $0.62 earnings per share for the current fiscal year.
In other Allscripts Healthcare Solutions news, EVP Brian Farley sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $13.52, for a total value of $67,600.00. Following the completion of the sale, the executive vice president now owns 196,607 shares in the company, valued at approximately $2,658,126.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Richard J. Poulton sold 15,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $13.56, for a total transaction of $203,400.00. The disclosure for this sale can be found here. Insiders sold a total of 35,000 shares of company stock valued at $473,800 in the last ninety days. Company insiders own 0.75% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Thrivent Financial For Lutherans lifted its position in Allscripts Healthcare Solutions by 255.4% in the 1st quarter. Thrivent Financial For Lutherans now owns 111,780 shares of the software maker’s stock worth $1,418,000 after buying an additional 80,330 shares in the last quarter. Neuburgh Advisers LLC lifted its position in Allscripts Healthcare Solutions by 4.1% in the 1st quarter. Neuburgh Advisers LLC now owns 12,070 shares of the software maker’s stock worth $153,000 after buying an additional 476 shares in the last quarter. Wesbanco Bank Inc. lifted its position in Allscripts Healthcare Solutions by 131.4% in the 2nd quarter. Wesbanco Bank Inc. now owns 147,587 shares of the software maker’s stock worth $1,883,000 after buying an additional 83,807 shares in the last quarter. Dalton Greiner Hartman Maher & Co. purchased a new stake in Allscripts Healthcare Solutions in the 2nd quarter worth approximately $1,276,000. Finally, Canada Pension Plan Investment Board lifted its position in Allscripts Healthcare Solutions by 12.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 82,200 shares of the software maker’s stock worth $1,042,000 after buying an additional 8,800 shares in 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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