Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRXGet Rating) have earned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $21.33.

Several analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on Allscripts Healthcare Solutions in a research note on Tuesday, July 12th. They issued a “neutral” rating and a $21.00 target price for the company. Piper Sandler cut their target price on Allscripts Healthcare Solutions from $19.00 to $17.00 in a research note on Thursday, June 9th. StockNews.com lowered Allscripts Healthcare Solutions from a “buy” rating to a “hold” rating in a research note on Friday, May 13th. Finally, TheStreet lowered Allscripts Healthcare Solutions from a “b” rating to a “c” rating in a research note on Friday, May 6th.

Allscripts Healthcare Solutions Stock Up 0.3 %

MDRX stock opened at $15.78 on Thursday. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average is $15.59 and its 200 day moving average is $18.82. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 1.45 and a beta of 1.02. Allscripts Healthcare Solutions has a 1-year low of $13.05 and a 1-year high of $23.25.

Allscripts Healthcare Solutions (NASDAQ:MDRXGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The software maker reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The company had revenue of $142.70 million during the quarter, compared to the consensus estimate of $139.67 million. Allscripts Healthcare Solutions had a return on equity of 10.97% and a net margin of 11.60%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the company posted $0.13 earnings per share. Sell-side analysts predict that Allscripts Healthcare Solutions will post 0.67 EPS for the current fiscal year.

Insider Activity

In other news, Director Paul Black sold 75,000 shares of the stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $17.33, for a total transaction of $1,299,750.00. Following the completion of the sale, the director now owns 1,455,081 shares of the company’s stock, valued at $25,216,553.73. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Thomas Langan sold 51,537 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $18.12, for a total transaction of $933,850.44. Following the completion of the transaction, the insider now owns 139,912 shares in the company, valued at $2,535,205.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Paul Black sold 75,000 shares of the company’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $17.33, for a total value of $1,299,750.00. Following the transaction, the director now owns 1,455,081 shares of the company’s stock, valued at approximately $25,216,553.73. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 318,015 shares of company stock valued at $5,550,054. 2.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Allscripts Healthcare Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Allscripts Healthcare Solutions by 4.4% in the first quarter. Vanguard Group Inc. now owns 13,852,474 shares of the software maker’s stock worth $311,957,000 after purchasing an additional 584,339 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Allscripts Healthcare Solutions by 87.7% in the fourth quarter. JPMorgan Chase & Co. now owns 7,467,089 shares of the software maker’s stock worth $137,767,000 after purchasing an additional 3,488,947 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Allscripts Healthcare Solutions by 0.6% in the fourth quarter. Fisher Asset Management LLC now owns 5,640,456 shares of the software maker’s stock worth $104,066,000 after purchasing an additional 35,230 shares in the last quarter. State Street Corp raised its holdings in Allscripts Healthcare Solutions by 3.2% in the first quarter. State Street Corp now owns 4,448,241 shares of the software maker’s stock worth $100,174,000 after purchasing an additional 136,905 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Allscripts Healthcare Solutions by 15.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,427,095 shares of the software maker’s stock worth $63,229,000 after purchasing an additional 469,894 shares in the last quarter.

About Allscripts Healthcare Solutions

(Get Rating)

Allscripts Healthcare Solutions, Inc, together with its subsidiaries, provides information technology solutions and services to healthcare organizations in the United States, Canada, and internationally. It offers electronic health records (EHR), information connectivity, private cloud hosting, outsourcing, analytics, patient access, and population health management solutions.

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Analyst Recommendations for Allscripts Healthcare Solutions (NASDAQ:MDRX)

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