Citigroup Inc. Raises Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) Price Target to $14.00

Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) had its price objective increased by Citigroup Inc. from $13.00 to $14.00 in a report issued on Monday. The firm currently has a neutral rating on the software maker’s stock.

MDRX has been the topic of several other research reports. BidaskClub raised shares of Allscripts Healthcare Solutions from a strong sell rating to a sell rating in a research report on Tuesday, June 13th. Maxim Group reaffirmed a buy rating and issued a $16.00 price objective on shares of Allscripts Healthcare Solutions in a research report on Monday, May 15th. Zacks Investment Research raised shares of Allscripts Healthcare Solutions from a sell rating to a hold rating in a research report on Wednesday, April 19th. Piper Jaffray Companies reaffirmed a hold rating and issued a $14.00 price objective on shares of Allscripts Healthcare Solutions in a research report on Friday, July 21st. Finally, Leerink Swann lowered shares of Allscripts Healthcare Solutions from an outperform rating to a market perform rating and lowered their price objective for the stock from $15.00 to $13.00 in a research report on Monday, June 19th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. Allscripts Healthcare Solutions presently has an average rating of Hold and an average target price of $14.66.

Shares of Allscripts Healthcare Solutions (NASDAQ:MDRX) traded up 1.13% on Monday, reaching $12.49. 668,074 shares of the company were exchanged. Allscripts Healthcare Solutions has a 12-month low of $9.80 and a 12-month high of $13.70. The company’s 50 day moving average is $12.50 and its 200 day moving average is $12.15. The firm’s market capitalization is $2.26 billion.

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

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In related news, President Richard J. Poulton sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $12.06, for a total transaction of $301,500.00. Following the completion of the transaction, the president now owns 412,488 shares of the company’s stock, valued at $4,974,605.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.75% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of MDRX. Vanguard Group Inc. boosted its position in shares of Allscripts Healthcare Solutions by 3.7% in the first quarter. Vanguard Group Inc. now owns 14,642,919 shares of the software maker’s stock valued at $185,672,000 after buying an additional 519,798 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Allscripts Healthcare Solutions by 9.4% in the first quarter. Dimensional Fund Advisors LP now owns 7,227,789 shares of the software maker’s stock valued at $91,648,000 after buying an additional 621,620 shares in the last quarter. Fiduciary Management Inc. WI boosted its position in shares of Allscripts Healthcare Solutions by 0.6% in the second quarter. Fiduciary Management Inc. WI now owns 6,083,536 shares of the software maker’s stock valued at $77,626,000 after buying an additional 38,426 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Allscripts Healthcare Solutions by 48.0% in the first quarter. First Trust Advisors LP now owns 5,855,944 shares of the software maker’s stock valued at $74,253,000 after buying an additional 1,898,007 shares in the last quarter. Finally, Boston Partners boosted its position in shares of Allscripts Healthcare Solutions by 16.5% in the second quarter. Boston Partners now owns 5,415,576 shares of the software maker’s stock valued at $69,102,000 after buying an additional 767,249 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.