Wall Street analysts forecast that Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) will post $523.39 million in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have issued estimates for Allscripts Healthcare Solutions’ earnings. The lowest sales estimate is $520.48 million and the highest is $526.90 million. Allscripts Healthcare Solutions reported sales of $429.40 million during the same quarter last year, which indicates a positive year over year growth rate of 21.9%. The company is expected to announce its next quarterly earnings report after the market closes on Thursday, February 15th.
According to Zacks, analysts expect that Allscripts Healthcare Solutions will report full-year sales of $523.39 million for the current fiscal year, with estimates ranging from $1.81 billion to $1.82 billion. For the next year, analysts forecast that the firm will post sales of $2.14 billion per share, with estimates ranging from $2.11 billion to $2.17 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Allscripts Healthcare Solutions.
Several equities research analysts recently commented on the company. Cantor Fitzgerald restated a “buy” rating and set a $17.00 target price on shares of Allscripts Healthcare Solutions in a research report on Sunday, January 28th. Zacks Investment Research upgraded Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a research report on Thursday, January 25th. Evercore ISI assumed coverage on Allscripts Healthcare Solutions in a research report on Thursday, January 18th. They set an “outperform” rating and a $17.50 target price on the stock. Maxim Group restated a “buy” rating and set a $16.00 target price on shares of Allscripts Healthcare Solutions in a research report on Friday, November 3rd. Finally, SunTrust Banks lowered Allscripts Healthcare Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $15.66.
Shares of Allscripts Healthcare Solutions (NASDAQ:MDRX) traded up $0.39 during trading on Friday, hitting $14.84. The company had a trading volume of 2,224,136 shares, compared to its average volume of 1,705,154. Allscripts Healthcare Solutions has a 52 week low of $11.25 and a 52 week high of $16.13. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20. The company has a market cap of $2,640.00, a price-to-earnings ratio of -12.79, a price-to-earnings-growth ratio of 2.00 and a beta of 1.18.
In other news, SVP James Hewitt sold 36,796 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $14.11, for a total value of $519,191.56. Following the completion of the sale, the senior vice president now directly owns 181,766 shares of the company’s stock, valued at $2,564,718.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Brian Farley sold 5,000 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $14.35, for a total value of $71,750.00. Following the completion of the sale, the executive vice president now directly owns 191,607 shares of the company’s stock, valued at $2,749,560.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,796 shares of company stock worth $804,842. Corporate insiders own 0.75% of the company’s stock.
Several institutional investors have recently modified their holdings of MDRX. Fisher Asset Management LLC purchased a new stake in shares of Allscripts Healthcare Solutions during the third quarter valued at approximately $33,351,000. Redmile Group LLC purchased a new stake in shares of Allscripts Healthcare Solutions during the fourth quarter valued at approximately $25,762,000. Systematic Financial Management LP increased its position in shares of Allscripts Healthcare Solutions by 1,215.3% during the third quarter. Systematic Financial Management LP now owns 1,853,300 shares of the software maker’s stock valued at $26,372,000 after acquiring an additional 1,712,395 shares during the last quarter. State Street Corp increased its position in shares of Allscripts Healthcare Solutions by 28.6% during the second quarter. State Street Corp now owns 5,975,551 shares of the software maker’s stock valued at $76,251,000 after acquiring an additional 1,330,721 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Allscripts Healthcare Solutions by 70.8% during the second quarter. Northern Trust Corp now owns 2,930,365 shares of the software maker’s stock valued at $37,391,000 after acquiring an additional 1,215,020 shares during the last quarter.
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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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