Allscripts Healthcare Solutions, Inc. (MDRX) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) have earned a consensus rating of “Buy” from the twenty-one brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $14.94.

A number of analysts have recently issued reports on the company. Citigroup Inc. increased their target price on Allscripts Healthcare Solutions from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Monday, August 7th. Zacks Investment Research upgraded Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Cantor Fitzgerald upgraded Allscripts Healthcare Solutions from a “neutral” rating to an “overweight” rating and set a $12.00 target price for the company in a report on Tuesday, August 15th. Royal Bank Of Canada assumed coverage on Allscripts Healthcare Solutions in a report on Tuesday, September 19th. They issued an “outperform” rating and a $17.00 target price for the company. Finally, Maxim Group restated a “buy” rating and issued a $16.00 target price on shares of Allscripts Healthcare Solutions in a report on Friday, August 4th.

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Allscripts Healthcare Solutions (NASDAQ:MDRX) traded down 0.58% during trading on Friday, reaching $13.73. The company had a trading volume of 1,880,749 shares. The company has a 50-day moving average price of $13.01 and a 200 day moving average price of $12.40. The stock’s market cap is $2.48 billion. Allscripts Healthcare Solutions has a 52-week low of $9.80 and a 52-week high of $13.97.

Allscripts Healthcare Solutions (NASDAQ:MDRX) last released its earnings results on Thursday, August 3rd. The software maker reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.04). The business had revenue of $426.10 million during the quarter, compared to analysts’ expectations of $424.94 million. Allscripts Healthcare Solutions had a negative net margin of 11.54% and a positive return on equity of 5.97%. Allscripts Healthcare Solutions’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 EPS. On average, analysts anticipate that Allscripts Healthcare Solutions will post $0.62 earnings per share for the current year.

In other Allscripts Healthcare Solutions news, President Richard J. Poulton sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $13.56, for a total transaction of $203,400.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Brian Farley sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $13.52, for a total value of $67,600.00. Following the transaction, the executive vice president now owns 196,607 shares in the company, valued at $2,658,126.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,000 shares of company stock worth $473,800. Corporate insiders own 0.75% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of MDRX. FNY Partners Fund LP raised its holdings in Allscripts Healthcare Solutions by 900.0% during the first quarter. FNY Partners Fund LP now owns 8,000 shares of the software maker’s stock valued at $101,000 after buying an additional 7,200 shares in the last quarter. Invictus RG acquired a new stake in shares of Allscripts Healthcare Solutions in the first quarter valued at about $105,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Allscripts Healthcare Solutions by 9.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,434 shares of the software maker’s stock valued at $120,000 after purchasing an additional 816 shares during the last quarter. Bank of Montreal Can grew its position in shares of Allscripts Healthcare Solutions by 60.2% in the first quarter. Bank of Montreal Can now owns 9,914 shares of the software maker’s stock valued at $126,000 after purchasing an additional 3,724 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Allscripts Healthcare Solutions in the second quarter valued at about $134,000.

About Allscripts Healthcare Solutions

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.

Analyst Recommendations for Allscripts Healthcare Solutions (NASDAQ:MDRX)

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