Allscripts (NASDAQ:MDRX)‘s stock had its “buy” rating reiterated by equities research analysts at Cantor Fitzgerald in a report issued on Thursday. They presently have a $18.00 price objective on the software maker’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 48.39% from the company’s previous close.
The analysts wrote, “Today, MDRX filed an 8-K indicating that Netsmart has acquired the homecare software business from Change Healthcare for $167.5 million.””
A number of other research analysts also recently commented on MDRX. ValuEngine downgraded shares of Allscripts from a “hold” rating to a “sell” rating in a research note on Tuesday. BidaskClub downgraded shares of Allscripts from a “hold” rating to a “sell” rating in a research note on Wednesday. TheStreet downgraded shares of Allscripts from a “b-” rating to a “c” rating in a research note on Monday, April 2nd. Bank of America started coverage on shares of Allscripts in a research report on Tuesday, February 27th. They set a “buy” rating and a $17.00 target price for the company. Finally, Evercore ISI started coverage on shares of Allscripts in a research report on Thursday, January 18th. They set an “outperform” rating and a $17.50 target price for the company. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $16.22.
NASDAQ MDRX opened at $12.13 on Thursday. Allscripts has a 12 month low of $10.78 and a 12 month high of $16.13. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $2,177.44, a PE ratio of 25.81, a P/E/G ratio of 1.55 and a beta of 1.23.
Allscripts (NASDAQ:MDRX) last posted its quarterly earnings data on Thursday, February 15th. The software maker reported $0.18 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.18. Allscripts had a negative net margin of 10.88% and a positive return on equity of 7.36%. The company had revenue of $547.00 million during the quarter, compared to the consensus estimate of $524.05 million. During the same quarter in the prior year, the company posted $0.14 EPS. The company’s quarterly revenue was up 27.5% compared to the same quarter last year. analysts expect that Allscripts will post 0.56 earnings per share for the current fiscal year.
In related news, EVP Brian Farley sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $13.73, for a total transaction of $68,650.00. Following the completion of the sale, the executive vice president now owns 240,672 shares of the company’s stock, valued at approximately $3,304,426.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Richard J. Poulton sold 15,000 shares of the stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $13.53, for a total transaction of $202,950.00. Following the sale, the president now directly owns 505,920 shares of the company’s stock, valued at approximately $6,845,097.60. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zeke Capital Advisors LLC purchased a new position in Allscripts in the 4th quarter worth approximately $165,000. Avestar Capital LLC purchased a new position in Allscripts in the 4th quarter worth approximately $173,000. Sheaff Brock Investment Advisors LLC purchased a new position in Allscripts in the 3rd quarter worth approximately $174,000. Quantitative Systematic Strategies LLC purchased a new position in Allscripts in the 4th quarter worth approximately $182,000. Finally, Oakbrook Investments LLC purchased a new position in Allscripts in the 4th quarter worth approximately $194,000.
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Allscripts Healthcare Solutions, Inc provides information technology solutions and services to healthcare organizations in the United States, Canada, and internationally. It offers electronic health records, connectivity, private cloud hosting, outsourcing, analytics, patient engagement, clinical decision support, and population health management solutions.
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