Allscripts Healthcare Solutions (NASDAQ:MDRX) had its price target cut by investment analysts at Citigroup from $19.00 to $17.00 in a note issued to investors on Friday. The firm presently has a “buy” rating on the software maker’s stock. Citigroup’s target price would indicate a potential upside of 74.18% from the company’s current price.
MDRX has been the subject of a number of other research reports. TheStreet raised Allscripts Healthcare Solutions from a “c+” rating to a “b-” rating in a research report on Thursday, September 6th. Zacks Investment Research downgraded Allscripts Healthcare Solutions from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Canaccord Genuity lowered their price target on 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. ValuEngine raised Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, BidaskClub raised Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, August 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $15.39.
MDRX stock traded down $2.28 during trading on Friday, reaching $9.76. 16,412,396 shares of the stock traded hands, compared to its average volume of 1,853,519. Allscripts Healthcare Solutions has a 52-week low of $9.52 and a 52-week high of $16.13. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.41. The company has a market cap of $2.16 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 1.64 and a beta of 1.14.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last posted its quarterly earnings results on Thursday, November 1st. The software maker reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.01). Allscripts Healthcare Solutions had a net margin of 0.10% and a return on equity of 8.26%. The firm had revenue of $536.00 million for the quarter, compared to analysts’ expectations of $546.09 million. During the same period last year, the firm posted $0.15 EPS. Allscripts Healthcare Solutions’s revenue was up 18.8% on a year-over-year basis. Equities analysts forecast that Allscripts Healthcare Solutions will post 0.56 EPS for the current fiscal year.
Allscripts Healthcare Solutions announced that its Board of Directors has authorized a stock buyback program on Thursday, August 2nd that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the software maker to buy up to 11.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In other news, CFO Dennis Olis sold 25,000 shares of the company’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $14.50, for a total value of $362,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brian Farley sold 6,000 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $14.67, for a total value of $88,020.00. Following the completion of the sale, 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. 0.75% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Summit Trail Advisors LLC purchased a new stake in shares of Allscripts Healthcare Solutions in the second quarter worth about $105,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Allscripts Healthcare Solutions in the second quarter worth about $160,000. Whittier Trust Co. of Nevada Inc. purchased a new position in Allscripts Healthcare Solutions in the second quarter valued at about $229,000. Fox Run Management L.L.C. purchased a new position in Allscripts Healthcare Solutions in the second quarter valued at about $204,000. Finally, Avestar Capital LLC boosted its holdings in Allscripts Healthcare Solutions by 24.1% in the third quarter. Avestar Capital LLC now owns 20,051 shares of the software maker’s stock valued at $270,000 after purchasing an additional 3,899 shares during the last quarter.
Allscripts Healthcare Solutions 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.
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