Allscripts Healthcare Solutions (NASDAQ:MDRX) Trading Up 10.4% Following Earnings Beat

Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX – Get Rating)’s share price was up 10.4% during trading on Friday following a stronger than expected earnings report. The company traded as high as $17.10 and last traded at $17.05. Approximately 92,591 shares traded hands during trading, a decline of 91% from the average daily volume of 1,023,340 shares. The stock had previously closed at $15.45.

The software maker reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.03. Allscripts Healthcare Solutions had a return on equity of 10.97% and a net margin of 11.60%. The firm had revenue of $150.90 million for the quarter, compared to the consensus estimate of $148.58 million. During the same quarter last year, the business posted $0.17 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MDRX shares. Piper Sandler reduced their price objective on Allscripts Healthcare Solutions from $19.00 to $17.00 in a research report on Thursday, June 9th. The Goldman Sachs Group began coverage on Allscripts Healthcare Solutions in a research report on Tuesday, July 12th. They issued a “neutral” rating and a $21.00 target price on the stock. TheStreet downgraded Allscripts Healthcare Solutions from a “b” rating to a “c” rating in a research report on Friday, May 6th. Finally, StockNews.com downgraded Allscripts Healthcare Solutions from a “buy” rating to a “hold” rating in a research report on Friday, May 13th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Allscripts Healthcare Solutions presently has an average rating of “Moderate Buy” and an average target price of $21.33.

Insider Buying and Selling at Allscripts Healthcare Solutions

In other news, Director Paul Black sold 60,000 shares of Allscripts Healthcare Solutions stock in a transaction on Friday, June 10th. The stock was sold at an average price of $16.58, for a total value of $994,800.00. Following the completion of the sale, the director now directly owns 1,254,631 shares of the company’s stock, valued at $20,801,781.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Thomas Langan sold 51,537 shares of Allscripts Healthcare Solutions stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $18.12, for a total value of $933,850.44. Following the completion of the sale, the insider now directly owns 139,912 shares of the company’s stock, valued at $2,535,205.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul Black sold 60,000 shares of Allscripts Healthcare Solutions stock in a transaction on Friday, June 10th. The shares were sold at an average price of $16.58, for a total value of $994,800.00. Following the completion of the sale, the director now directly owns 1,254,631 shares of the company’s stock, valued at $20,801,781.98. The disclosure for this sale can be found here. Insiders have sold 318,015 shares of company stock worth $5,550,054 over the last quarter. 2.29% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MDRX. C M Bidwell & Associates Ltd. acquired a new position in Allscripts Healthcare Solutions during the 1st quarter worth $44,000. MQS Management LLC acquired a new position in Allscripts Healthcare Solutions during the 2nd quarter worth $154,000. AdvisorShares Investments LLC acquired a new position in Allscripts Healthcare Solutions during the 1st quarter worth $186,000. CIBC Asset Management Inc acquired a new position in Allscripts Healthcare Solutions during the 4th quarter worth $200,000. Finally, Hightower 6M Holding LLC acquired a new position in Allscripts Healthcare Solutions during the 1st quarter worth $225,000.

Allscripts Healthcare Solutions Price Performance

The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.44 and a beta of 1.02. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.38 and a current ratio of 2.38. The company has a 50 day moving average of $15.57 and a 200 day moving average of $18.80.

About Allscripts Healthcare Solutions

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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.