Mirae Asset Global Investments Co. Ltd. Decreases Stake in Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX)

Mirae Asset Global Investments Co. Ltd. reduced its stake in Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRXGet Rating) by 13.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 398,881 shares of the software maker’s stock after selling 60,397 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.34% of Allscripts Healthcare Solutions worth $8,983,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Alyeska Investment Group L.P. purchased a new position in Allscripts Healthcare Solutions during the 1st quarter worth approximately $11,823,000. Polar Capital Holdings Plc purchased a new position in Allscripts Healthcare Solutions during the 1st quarter worth approximately $250,000. Royal Bank of Canada raised its position in Allscripts Healthcare Solutions by 9.5% during the 1st quarter. Royal Bank of Canada now owns 1,316,473 shares of the software maker’s stock worth $29,647,000 after buying an additional 113,940 shares during the last quarter. Eqis Capital Management Inc. purchased a new position in Allscripts Healthcare Solutions during the 1st quarter worth approximately $240,000. Finally, PDT Partners LLC purchased a new position in Allscripts Healthcare Solutions during the 1st quarter worth approximately $397,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Allscripts Healthcare Solutions

In related news, CEO Richard J. Poulton sold 10,000 shares of Allscripts Healthcare Solutions stock in a transaction on Monday, August 15th. The shares were sold at an average price of $17.46, for a total value of $174,600.00. Following the sale, the chief executive officer now owns 742,517 shares of the company’s stock, valued at approximately $12,964,346.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Richard J. Poulton sold 10,000 shares of Allscripts Healthcare Solutions stock in a transaction on Monday, August 15th. The shares were sold at an average price of $17.46, for a total value of $174,600.00. Following the sale, the chief executive officer now owns 742,517 shares of the company’s stock, valued at approximately $12,964,346.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Leah Jones sold 7,000 shares of Allscripts Healthcare Solutions stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $16.62, for a total transaction of $116,340.00. Following the completion of the sale, the chief financial officer now directly owns 98,362 shares in the company, valued at approximately $1,634,776.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,945 shares of company stock valued at $360,569. 2.29% of the stock is owned by company insiders.

Allscripts Healthcare Solutions Price Performance

NASDAQ:MDRX opened at $16.59 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.23 and a quick ratio of 3.23. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 38.58, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98. The company has a 50 day moving average price of $16.40 and a 200-day moving average price of $18.10. Allscripts Healthcare Solutions, Inc. 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 earnings results on Thursday, August 4th. The software maker reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.03. Allscripts Healthcare Solutions had a net margin of 5.90% and a return on equity of 10.62%. The firm had revenue of $150.90 million during the quarter, compared to analyst estimates of $148.58 million. During the same period in the previous year, the firm earned $0.17 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Equities research analysts forecast that Allscripts Healthcare Solutions, Inc. will post 0.71 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MDRX shares. Piper Sandler reduced their price target on shares of Allscripts Healthcare Solutions from $19.00 to $17.00 in a research report on Thursday, June 9th. KeyCorp started coverage on shares of Allscripts Healthcare Solutions in a research report on Thursday, September 15th. They set a “sector weight” rating for the company. Finally, The Goldman Sachs Group started coverage on shares of Allscripts Healthcare Solutions in a report on Tuesday, July 12th. They set a “neutral” rating and a $21.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $21.80.

Allscripts Healthcare Solutions Profile

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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.

See Also

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Institutional Ownership by Quarter for Allscripts Healthcare Solutions (NASDAQ:MDRX)

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