Allscripts Healthcare Solutions (MDRX) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Allscripts Healthcare Solutions (NASDAQ:MDRX) from a hold rating to a buy rating in a research report report published on Wednesday morning.

Other research analysts also recently issued reports about the company. ValuEngine raised Allscripts Healthcare Solutions from a sell rating to a hold rating in a report on Wednesday. Zacks Investment Research raised Allscripts Healthcare Solutions from a sell rating to a hold rating in a report on Friday, December 7th. Robert W. Baird decreased their price target on Allscripts Healthcare Solutions from $16.00 to $14.00 and set an outperform rating for the company in a report on Friday, November 2nd. Finally, Bank of America decreased their price target on Allscripts Healthcare Solutions from $16.50 to $15.00 and set a buy rating for the company in a report on Friday, November 2nd. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $15.51.

Shares of Allscripts Healthcare Solutions stock traded up $0.04 on Wednesday, reaching $11.41. 2,648,361 shares of the stock were exchanged, compared to its average volume of 2,521,137. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.61. Allscripts Healthcare Solutions has a twelve month low of $8.54 and a twelve month high of $16.13. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 1.70 and a beta of 1.15.

Allscripts Healthcare Solutions (NASDAQ:MDRX) last released its earnings results on Thursday, November 1st. The software maker reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.01). Allscripts Healthcare Solutions had a positive return on equity of 8.25% and a negative net margin of 0.25%. The firm had revenue of $536.00 million for the quarter, compared to analyst estimates of $546.09 million. During the same period last year, the firm earned $0.15 EPS. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. Research analysts anticipate that Allscripts Healthcare Solutions will post 0.54 EPS for the current fiscal year.

In other Allscripts Healthcare Solutions news, CEO Paul Black acquired 24,765 shares of the business’s stock in a transaction dated Wednesday, December 12th. The stock was acquired at an average cost of $10.10 per share, for a total transaction of $250,126.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Richard J. Poulton sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, December 13th. The shares were sold at an average price of $9.82, for a total value of $589,200.00. Following the completion of the sale, the president now owns 479,520 shares of the company’s stock, valued at $4,708,886.40. The disclosure for this sale can be found here. Insiders bought 37,728 shares of company stock valued at $380,972 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its position in shares of Allscripts Healthcare Solutions by 580.9% during the third quarter. Tower Research Capital LLC TRC now owns 17,861 shares of the software maker’s stock worth $255,000 after purchasing an additional 15,238 shares in the last quarter. Avestar Capital LLC increased its position in shares of Allscripts Healthcare Solutions by 24.1% during the third quarter. Avestar Capital LLC now owns 20,051 shares of the software maker’s stock worth $270,000 after purchasing an additional 3,899 shares in the last quarter. GAM Holding AG increased its position in shares of Allscripts Healthcare Solutions by 70.2% during the third quarter. GAM Holding AG now owns 19,744 shares of the software maker’s stock worth $281,000 after purchasing an additional 8,141 shares in the last quarter. PEAK6 Investments L.P. purchased a new stake in shares of Allscripts Healthcare Solutions during the second quarter worth approximately $344,000. Finally, Creative Planning increased its position in shares of Allscripts Healthcare Solutions by 53.5% during the third quarter. Creative Planning now owns 36,293 shares of the software maker’s stock worth $517,000 after purchasing an additional 12,650 shares in the last quarter.

About Allscripts Healthcare Solutions

Allscripts Healthcare Solutions, Inc provides information technology solutions and services to healthcare organizations in the United States, Canada, and internationally. It offers electronic health records, connectivity, private cloud hosting, outsourcing, analytics, patient engagement, clinical decision support, and population health management solutions.

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