Allscripts Healthcare Solutions, Inc. (MDRX) Receives “Buy” Rating from Robert W. Baird

Robert W. Baird restated their buy rating on shares of Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) in a research note released on Tuesday. The firm currently has a $16.00 price objective on the software maker’s stock.

A number of other equities analysts have also weighed in on the company. Jefferies Group LLC set a $17.00 price objective on Allscripts Healthcare Solutions and gave the stock a buy rating in a research note on Friday, August 25th. Cantor Fitzgerald reissued a buy rating and set a $17.00 price objective on shares of Allscripts Healthcare Solutions in a research note on Wednesday, September 27th. Zacks Investment Research lowered Allscripts Healthcare Solutions from a hold rating to a sell rating in a research note on Tuesday, October 10th. Maxim Group reissued a buy rating and set a $16.00 price objective on shares of Allscripts Healthcare Solutions in a research note on Friday, August 4th. Finally, Dougherty & Co reissued a buy rating and set a $16.00 price objective (up previously from $15.00) on shares of Allscripts Healthcare Solutions in a research note on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $15.24.

Allscripts Healthcare Solutions (MDRX) remained flat at $13.90 on Tuesday. The company had a trading volume of 184,586 shares. The company’s market cap is $2.51 billion. The company’s 50-day moving average price is $13.72 and its 200-day moving average price is $12.66. Allscripts Healthcare Solutions has a 12-month low of $9.80 and a 12-month high of $14.45.

Allscripts Healthcare Solutions (NASDAQ:MDRX) last issued 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). Allscripts Healthcare Solutions had a negative net margin of 11.54% and a positive return on equity of 5.97%. The business had revenue of $426.10 million during the quarter, compared to analyst estimates of $424.94 million. During the same period in the previous year, the business posted $0.14 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities research analysts anticipate that Allscripts Healthcare Solutions will post $0.61 EPS for the current fiscal year.

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In related news, President Richard J. Poulton sold 15,000 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $13.56, for a total value of $203,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian Farley sold 5,000 shares of the company’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 completion of the sale, the executive vice president now directly owns 196,607 shares of the company’s stock, valued at $2,658,126.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,000 shares of company stock valued at $473,800. Insiders own 0.75% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. World Asset Management Inc boosted its position in shares of Allscripts Healthcare Solutions by 0.7% in the 2nd quarter. World Asset Management Inc now owns 11,419 shares of the software maker’s stock valued at $146,000 after purchasing an additional 81 shares during the period. Advantus Capital Management Inc raised its stake in Allscripts Healthcare Solutions by 0.5% during the 1st quarter. Advantus Capital Management Inc now owns 23,112 shares of the software maker’s stock valued at $293,000 after acquiring an additional 109 shares during the last quarter. Atlantic Trust Group LLC raised its stake in Allscripts Healthcare Solutions by 0.3% during the 2nd quarter. Atlantic Trust Group LLC now owns 32,900 shares of the software maker’s stock valued at $420,000 after acquiring an additional 110 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Allscripts Healthcare Solutions by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,484 shares of the software maker’s stock valued at $338,000 after acquiring an additional 115 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in Allscripts Healthcare Solutions by 6.9% during the 2nd quarter. Bank of Montreal Can now owns 10,603 shares of the software maker’s stock valued at $135,000 after acquiring an additional 689 shares during 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.

Analyst Recommendations for Allscripts Healthcare Solutions (NASDAQ:MDRX)

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