Allscripts Healthcare Solutions (MDRX) Cut to “Neutral” at Cantor Fitzgerald

Allscripts Healthcare Solutions (NASDAQ:MDRX) was downgraded by investment analysts at Cantor Fitzgerald from an “overweight” rating to a “neutral” rating in a report issued on Thursday, Marketbeat.com reports. They presently have a $12.00 target price on the software maker’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 22.95% from the stock’s current price.

Several other equities analysts have also commented on the company. ValuEngine lowered Allscripts Healthcare Solutions from a “hold” rating to a “sell” rating in a research report on Friday, July 20th. Zacks Investment Research lowered Allscripts Healthcare Solutions from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. TheStreet upgraded Allscripts Healthcare Solutions from a “c+” rating to a “b-” rating in a research report on Thursday, September 6th. Canaccord Genuity reduced their price objective on Allscripts Healthcare Solutions from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, August 3rd. Finally, BidaskClub upgraded Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a report on Saturday, August 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. Allscripts Healthcare Solutions presently has a consensus rating of “Hold” and an average target price of $15.39.

Shares of Allscripts Healthcare Solutions stock opened at $9.76 on Thursday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $2.16 billion, a PE ratio of 20.77, a PEG ratio of 1.64 and a beta of 1.14. Allscripts Healthcare Solutions has a 12 month low of $9.52 and a 12 month high of $16.13.

Allscripts Healthcare Solutions (NASDAQ:MDRX) last announced its quarterly earnings data on Thursday, November 1st. The software maker reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $536.00 million for the quarter, compared to the consensus estimate of $546.09 million. Allscripts Healthcare Solutions had a net margin of 0.10% and a return on equity of 8.26%. Allscripts Healthcare Solutions’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.15 earnings per share. Research analysts forecast that Allscripts Healthcare Solutions will post 0.56 EPS for the current year.

Allscripts Healthcare Solutions announced that its Board of Directors has authorized a stock repurchase plan on Thursday, August 2nd that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the software maker to purchase up to 11.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

In related news, CFO Dennis Olis sold 25,000 shares of the stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $14.50, for a total transaction of $362,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian Farley sold 6,000 shares of the stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $14.67, for a total value 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. Corporate insiders own 0.75% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in Allscripts Healthcare Solutions by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,445,549 shares of the software maker’s stock worth $125,347,000 after buying an additional 367,072 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in Allscripts Healthcare Solutions by 10.7% in the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 6,836,652 shares of the software maker’s stock worth $82,040,000 after buying an additional 658,123 shares during the period. Dalton Greiner Hartman Maher & Co. lifted its holdings in Allscripts Healthcare Solutions by 2.3% in the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 3,248,685 shares of the software maker’s stock worth $46,294,000 after buying an additional 74,174 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its holdings in Allscripts Healthcare Solutions by 15.2% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 2,159,300 shares of the software maker’s stock worth $25,912,000 after buying an additional 285,000 shares during the period. Finally, Paradigm Capital Management Inc. NY lifted its holdings in Allscripts Healthcare Solutions by 4.2% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,061,900 shares of the software maker’s stock worth $24,743,000 after buying an additional 82,600 shares during the period.

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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Analyst Recommendations for Allscripts Healthcare Solutions (NASDAQ:MDRX)

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