Allscripts (NASDAQ:MDRX) Rating Lowered to Hold at BidaskClub

Allscripts (NASDAQ:MDRX) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Wednesday, March 14th.

A number of other analysts have also recently commented on the company. Cantor Fitzgerald restated a “buy” rating and issued a $17.00 price objective on shares of Allscripts in a research report on Monday, January 8th. Maxim Group restated a “buy” rating and issued a $20.00 price objective on shares of Allscripts in a research report on Tuesday, January 9th. Royal Bank of Canada set a $19.00 price objective on Allscripts and gave the company a “buy” rating in a research report on Thursday, January 11th. Zacks Investment Research lowered Allscripts from a “hold” rating to a “sell” rating in a research note on Friday, January 12th. Finally, Citigroup assumed coverage on Allscripts in a research note on Thursday, January 4th. They issued a “buy” rating on the stock. Three research 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 stock has a consensus rating of “Hold” and a consensus price target of $16.22.

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Shares of NASDAQ:MDRX traded down $0.22 during trading on Wednesday, hitting $12.13. The stock had a trading volume of 2,152,354 shares, compared to its average volume of 1,932,846. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.33. The stock has a market cap of $2,193.72, a price-to-earnings ratio of 25.81, a PEG ratio of 1.56 and a beta of 1.23. Allscripts has a 12-month low of $10.78 and a 12-month high of $16.13.

Allscripts (NASDAQ:MDRX) last announced its quarterly earnings results on Thursday, February 15th. The software maker reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $547.00 million during the quarter, compared to analysts’ expectations of $524.05 million. Allscripts had a positive return on equity of 7.36% and a negative net margin of 10.88%. Allscripts’s quarterly revenue was up 27.5% on a year-over-year basis. During the same period last year, the business earned $0.14 earnings per share. equities analysts anticipate that Allscripts will post 0.56 EPS for the current fiscal year.

In related news, EVP Brian Farley sold 5,000 shares of the business’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $13.73, for a total value of $68,650.00. Following the sale, the executive vice president now owns 240,672 shares in the company, valued at approximately $3,304,426.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Richard J. Poulton sold 15,000 shares of the business’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $13.53, for a total value of $202,950.00. Following the completion of the sale, the president now owns 505,920 shares in the company, valued at approximately $6,845,097.60. The disclosure for this sale can be found here. 0.75% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of MDRX. Zeke Capital Advisors LLC purchased a new stake in Allscripts during the 4th quarter worth about $165,000. Avestar Capital LLC acquired a new position in shares of Allscripts during the 4th quarter worth about $173,000. Sheaff Brock Investment Advisors LLC acquired a new position in shares of Allscripts during the 3rd quarter worth about $174,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Allscripts during the 4th quarter worth about $182,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Allscripts during the 3rd quarter worth about $187,000.

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Allscripts Company Profile

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.

Analyst Recommendations for Allscripts (NASDAQ:MDRX)

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