Allscripts Healthcare Solutions (MDRX) Rating Lowered to Hold at SunTrust Banks

Allscripts Healthcare Solutions (NASDAQ:MDRX) was downgraded by equities research analysts at SunTrust Banks from a “buy” rating to a “hold” rating in a note issued to investors on Friday, The Fly reports.

MDRX has been the subject of a number of other reports. TheStreet upgraded shares of Allscripts Healthcare Solutions from a “c+” rating to a “b-” rating in a report on Thursday, September 6th. Zacks Investment Research downgraded shares of Allscripts Healthcare Solutions from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Canaccord Genuity lowered their target price on shares of Allscripts Healthcare Solutions from $17.00 to $16.00 and set a “buy” rating for the company in a report on Friday, August 3rd. ValuEngine upgraded shares of Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, BidaskClub upgraded shares of Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a report on Saturday, August 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $16.01.

Allscripts Healthcare Solutions stock opened at $12.04 on Friday. Allscripts Healthcare Solutions has a 1 year low of $10.78 and a 1 year high of $16.13. The company has a market capitalization of $2.16 billion, a P/E ratio of 25.62, a P/E/G ratio of 1.64 and a beta of 1.14. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.41.

Allscripts Healthcare Solutions (NASDAQ:MDRX) last released its earnings results on Thursday, November 1st. The software maker reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Allscripts Healthcare Solutions had a net margin of 0.10% and a return on equity of 8.26%. The company had revenue of $536.00 million during the quarter, compared to analysts’ expectations of $546.09 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. Allscripts Healthcare Solutions’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, research analysts predict that Allscripts Healthcare Solutions will post 0.56 earnings per share for the current year.

Allscripts Healthcare Solutions announced that its board has initiated a stock repurchase program on Thursday, August 2nd that allows the company to buyback $250.00 million in shares. This buyback authorization allows 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 leadership believes its shares are undervalued.

In other Allscripts Healthcare Solutions news, CFO Dennis Olis sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $14.50, for a total transaction of $362,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian Farley sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $14.67, for a total transaction of $88,020.00. Following the sale, the executive vice president now owns 242,673 shares of the company’s stock, valued at $3,560,012.91. The disclosure for this sale can be found here. 0.75% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Avestar Capital LLC grew its stake in Allscripts Healthcare Solutions by 24.1% during the third quarter. Avestar Capital LLC now owns 20,051 shares of the software maker’s stock worth $270,000 after buying an additional 3,899 shares during the period. Mutual of America Capital Management LLC grew its stake in Allscripts Healthcare Solutions by 3.0% during the second quarter. Mutual of America Capital Management LLC now owns 152,677 shares of the software maker’s stock worth $1,832,000 after buying an additional 4,442 shares during the period. Guggenheim Capital LLC grew its stake in Allscripts Healthcare Solutions by 11.0% during the first quarter. Guggenheim Capital LLC now owns 69,606 shares of the software maker’s stock worth $860,000 after buying an additional 6,902 shares during the period. Summit Trail Advisors LLC purchased a new stake in Allscripts Healthcare Solutions during the second quarter worth approximately $105,000. Finally, North Star Asset Management Inc. lifted its position in shares of Allscripts Healthcare Solutions by 1.6% during the third quarter. North Star Asset Management Inc. now owns 639,823 shares of the software maker’s stock worth $9,117,000 after purchasing an additional 9,920 shares in 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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