JPMorgan Chase & Co. Boosts Allscripts Healthcare Solutions (NASDAQ:MDRX) Price Target to $20.00

Allscripts Healthcare Solutions (NASDAQ:MDRX – Get Rating) had its target price hoisted by equities researchers at JPMorgan Chase & Co. from $19.00 to $20.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “underweight” rating on the software maker’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 9.23% from the company’s current price.

Several other equities research analysts also recently commented on MDRX. The Goldman Sachs Group upgraded shares of Allscripts Healthcare Solutions from a “neutral” rating to a “buy” rating and upped their price target for the company from $22.00 to $23.00 in a research report on Tuesday, November 8th. KeyCorp assumed coverage on shares of Allscripts Healthcare Solutions in a report on Thursday, September 15th. They issued a “sector weight” rating on the stock. Piper Sandler reiterated an “overweight” rating and set a $17.00 price target on shares of Allscripts Healthcare Solutions in a report on Friday, November 4th. Finally, StockNews.com assumed coverage on shares of Allscripts Healthcare Solutions in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $22.00.

Allscripts Healthcare Solutions Price Performance

NASDAQ MDRX opened at $18.31 on Friday. The firm has a market capitalization of $2.00 billion, a PE ratio of 42.58, a P/E/G ratio of 1.77 and a beta of 0.95. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.20 and a quick ratio of 3.20. Allscripts Healthcare Solutions has a 12 month low of $13.59 and a 12 month high of $23.25. The company’s 50 day simple moving average is $15.75 and its 200 day simple moving average is $16.25.

Allscripts Healthcare Solutions (NASDAQ:MDRX – Get Rating) last announced its earnings results on Thursday, November 3rd. The software maker reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. Allscripts Healthcare Solutions had a return on equity of 10.74% and a net margin of 7.25%. The business had revenue of $151.90 million during the quarter, compared to analysts’ expectations of $152.79 million. During the same quarter last year, the business posted $0.21 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts forecast that Allscripts Healthcare Solutions will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling

In other Allscripts Healthcare Solutions news, CFO Leah Jones sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $16.62, for a total value of $116,340.00. Following the completion of the transaction, the chief financial officer now directly owns 98,362 shares in the company, valued at $1,634,776.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Richard J. Poulton sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $18.14, for a total value of $181,400.00. Following the completion of the sale, the chief executive officer now directly owns 722,517 shares of the company’s stock, valued at $13,106,458.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Leah Jones sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $16.62, for a total value of $116,340.00. Following the transaction, the chief financial officer now directly owns 98,362 shares in the company, valued at $1,634,776.44. The disclosure for this sale can be found here. 2.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allscripts Healthcare Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC lifted its stake in shares of Allscripts Healthcare Solutions by 5.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 17,662 shares of the software maker’s stock worth $398,000 after buying an additional 916 shares during the last quarter. Prelude Capital Management LLC boosted its holdings in shares of Allscripts Healthcare Solutions by 8.9% during the third quarter. Prelude Capital Management LLC now owns 11,428 shares of the software maker’s stock worth $174,000 after acquiring an additional 930 shares during the period. Teacher Retirement System of Texas grew its position in shares of Allscripts Healthcare Solutions by 4.0% in the first quarter. Teacher Retirement System of Texas now owns 25,158 shares of the software maker’s stock valued at $567,000 after purchasing an additional 977 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Allscripts Healthcare Solutions by 0.6% in the third quarter. Nordea Investment Management AB now owns 181,307 shares of the software maker’s stock valued at $2,809,000 after purchasing an additional 1,162 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in Allscripts Healthcare Solutions by 3.6% in the 1st quarter. Bank of Montreal Can now owns 34,210 shares of the software maker’s stock valued at $768,000 after buying an additional 1,198 shares in the last quarter. 99.76% of the stock is owned by institutional investors.

Allscripts Healthcare Solutions Company Profile

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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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