Allscripts Healthcare Solutions (NASDAQ:MDRX) updated its FY18 earnings guidance on Thursday. The company provided earnings per share guidance of $0.72-0.82 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.76. The company issued revenue guidance of $2.15-2.25, compared to the consensus revenue estimate of $2.17 billion.
Allscripts Healthcare Solutions stock traded up $0.13 during midday trading on Thursday, hitting $12.04. 2,114,400 shares of the stock were exchanged, compared to its average volume of 1,784,843. Allscripts Healthcare Solutions has a fifty-two week low of $10.78 and a fifty-two week high of $16.13. The stock has a market cap of $2.16 billion, a P/E ratio of 25.62, a PEG ratio of 1.64 and a beta of 1.14. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.41.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last released its quarterly earnings data on Thursday, August 2nd. The software maker reported $0.18 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Allscripts Healthcare Solutions had a net margin of 0.10% and a return on equity of 8.26%. The firm had revenue of $525.50 million during the quarter, compared to analysts’ expectations of $536.93 million. During the same period last year, the business earned $0.15 earnings per share. Allscripts Healthcare Solutions’s revenue was up 23.3% compared to the same quarter last year. As a group, analysts forecast that Allscripts Healthcare Solutions will post 0.56 EPS for the current year.
Allscripts Healthcare Solutions announced that its board has initiated a stock buyback program on Thursday, August 2nd that permits the company to buyback $250.00 million in shares. This buyback authorization permits the software maker to purchase up to 11.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
MDRX has been the subject of several recent analyst reports. Cantor Fitzgerald restated a buy rating and set a $17.00 price objective on shares of Allscripts Healthcare Solutions in a research report on Thursday, August 2nd. ValuEngine cut shares of Allscripts Healthcare Solutions from a hold rating to a sell rating in a research report on Friday, July 20th. Zacks Investment Research cut shares of Allscripts Healthcare Solutions from a hold rating to a sell rating in a research report on Thursday, October 4th. TheStreet upgraded shares of Allscripts Healthcare Solutions from a c+ rating to a b- rating in a research report on Thursday, September 6th. Finally, Canaccord Genuity cut their price objective on shares of Allscripts Healthcare Solutions from $17.00 to $16.00 and set a buy rating for the company in a research report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. Allscripts Healthcare Solutions presently has an average rating of Buy and an average target price of $16.38.
In other Allscripts Healthcare Solutions news, CFO Dennis Olis sold 25,000 shares of the stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $14.50, for a total transaction of $362,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian Farley sold 6,000 shares of the stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $14.67, for a total transaction of $88,020.00. Following the transaction, the executive vice president now directly owns 242,673 shares of the company’s stock, valued at approximately $3,560,012.91. The disclosure for this sale can be found here. Company insiders own 0.75% of the company’s stock.
About Allscripts Healthcare Solutions
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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