Shares of Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX – Get Rating) have earned an average recommendation of “Hold” from the ten research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $22.50.
Several research analysts have recently commented on MDRX shares. StockNews.com raised Allscripts Healthcare Solutions from a “hold” rating to a “buy” rating in a research report on Friday, April 8th. Deutsche Bank Aktiengesellschaft raised Allscripts Healthcare Solutions from a “hold” rating to a “buy” rating and boosted their price objective for the company from $20.00 to $26.00 in a report on Friday, March 4th. Piper Sandler increased their target price on Allscripts Healthcare Solutions from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, March 18th. Zacks Investment Research lowered Allscripts Healthcare Solutions from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a research report on Tuesday, March 29th. Finally, TheStreet upgraded Allscripts Healthcare Solutions from a “c+” rating to a “b” rating in a research report on Friday, February 25th.
Shares of MDRX stock traded down $0.16 on Tuesday, reaching $21.71. 6,670 shares of the company’s stock were exchanged, compared to its average volume of 1,856,830. Allscripts Healthcare Solutions has a 52 week low of $13.05 and a 52 week high of $23.25. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $2.66 billion, a PE ratio of 21.50, a P/E/G ratio of 1.83 and a beta of 0.98. The company’s fifty day simple moving average is $21.64 and its 200 day simple moving average is $18.79.
Allscripts Healthcare Solutions (NASDAQ:MDRX – Get Rating) last issued its quarterly earnings results on Thursday, February 24th. The software maker reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.47. Allscripts Healthcare Solutions had a return on equity of 10.91% and a net margin of 8.94%. The firm had revenue of $391.70 million during the quarter, compared to analyst estimates of $390.63 million. During the same period last year, the company earned $0.24 EPS. Allscripts Healthcare Solutions’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, sell-side analysts predict that Allscripts Healthcare Solutions will post 0.75 earnings per share for the current fiscal year.
In related news, CFO Richard J. Poulton sold 10,000 shares of the stock in a transaction dated Tuesday, February 15th. The shares were sold at an average price of $20.83, for a total transaction of $208,300.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Paul Black sold 60,000 shares of the stock in a transaction dated Thursday, March 10th. The stock was sold at an average price of $21.87, for a total transaction of $1,312,200.00. The disclosure for this sale can be found here. 1.91% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MDRX. JPMorgan Chase & Co. grew its position in Allscripts Healthcare Solutions by 87.7% in the 4th quarter. JPMorgan Chase & Co. now owns 7,467,089 shares of the software maker’s stock worth $137,767,000 after purchasing an additional 3,488,947 shares during the last quarter. BlackRock Inc. grew its position in Allscripts Healthcare Solutions by 9.3% in the 4th quarter. BlackRock Inc. now owns 23,846,502 shares of the software maker’s stock worth $439,969,000 after purchasing an additional 2,028,119 shares during the last quarter. Invesco Ltd. grew its position in Allscripts Healthcare Solutions by 86.6% in the 4th quarter. Invesco Ltd. now owns 2,227,469 shares of the software maker’s stock worth $41,097,000 after purchasing an additional 1,033,924 shares during the last quarter. Norges Bank bought a new position in shares of Allscripts Healthcare Solutions in the fourth quarter valued at approximately $16,809,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Allscripts Healthcare Solutions by 15.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,427,095 shares of the software maker’s stock valued at $63,229,000 after acquiring an additional 469,894 shares in the last quarter. Hedge funds and other institutional investors own 96.40% of the company’s stock.
About Allscripts Healthcare Solutions (Get Rating)
Allscripts Healthcare Solutions, Inc, together with its subsidiaries, provides information technology solutions and services to healthcare organizations in the United States, Canada, and internationally. It offers electronic health records (EHR), information connectivity, private cloud hosting, outsourcing, analytics, patient access, and population health management solutions.
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