Piper Jaffray Companies reiterated their hold rating on shares of Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) in a research note published on Friday, July 21st. Piper Jaffray Companies currently has a $14.00 price objective on the software maker’s stock.
MDRX has been the topic of a number of other research reports. Bank of America Corporation began coverage on shares of Allscripts Healthcare Solutions in a research note on Monday, May 15th. They issued a neutral rating and a $14.00 price target on the stock. Leerink Swann lowered shares of Allscripts Healthcare Solutions from an outperform rating to a market perform rating and cut their price target for the company from $15.00 to $13.00 in a research note on Monday, June 19th. Citigroup Inc. raised shares of Allscripts Healthcare Solutions from a hold rating to a buy rating in a research note on Friday, March 24th. They noted that the move was a valuation call. Cantor Fitzgerald reaffirmed a neutral rating and issued a $13.00 price target on shares of Allscripts Healthcare Solutions in a research note on Monday, May 15th. Finally, BidaskClub raised shares of Allscripts Healthcare Solutions from a strong sell rating to a sell rating in a research note on Tuesday, June 13th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company’s stock. Allscripts Healthcare Solutions currently has an average rating of Hold and an average target price of $14.74.
Allscripts Healthcare Solutions (NASDAQ MDRX) traded down 1.60% during mid-day trading on Friday, reaching $12.31. The company’s stock had a trading volume of 2,058,749 shares. The stock’s 50 day moving average price is $12.46 and its 200 day moving average price is $12.11. The stock’s market capitalization is $2.23 billion. Allscripts Healthcare Solutions has a 1-year low of $9.80 and a 1-year high of $15.17.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last issued its quarterly earnings data on Thursday, May 4th. The software maker reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.01. The firm had revenue of $415 million during the quarter, compared to analysts’ expectations of $415.20 million. Allscripts Healthcare Solutions had a negative net margin of 2.93% and a positive return on equity of 5.75%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.13 earnings per share. Analysts expect that Allscripts Healthcare Solutions will post $0.62 EPS for the current fiscal year.
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In related news, President Richard J. Poulton sold 25,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $12.06, for a total value of $301,500.00. Following the transaction, the president now directly owns 412,488 shares in the company, valued at $4,974,605.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.75% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Thrivent Financial For Lutherans boosted its stake in shares of Allscripts Healthcare Solutions by 255.4% in the first quarter. Thrivent Financial For Lutherans now owns 111,780 shares of the software maker’s stock worth $1,418,000 after buying an additional 80,330 shares during the period. Neuburgh Advisers LLC raised its position in shares of Allscripts Healthcare Solutions by 4.1% in the first quarter. Neuburgh Advisers LLC now owns 12,070 shares of the software maker’s stock worth $153,000 after buying an additional 476 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Allscripts Healthcare Solutions by 12.0% in the first quarter. Canada Pension Plan Investment Board now owns 82,200 shares of the software maker’s stock worth $1,042,000 after buying an additional 8,800 shares in the last quarter. Credit Agricole S A purchased a new position in shares of Allscripts Healthcare Solutions during the first quarter worth approximately $300,000. Finally, First Mercantile Trust Co. raised its position in shares of Allscripts Healthcare Solutions by 9.6% in the first quarter. First Mercantile Trust Co. now owns 48,870 shares of the software maker’s stock worth $620,000 after buying an additional 4,290 shares in the last quarter.
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.
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