Allscripts Healthcare Solutions (NASDAQ:MDRX) had its price objective reduced by Robert W. Baird from $16.00 to $14.00 in a research report released on Friday. Robert W. Baird currently has an outperform rating on the software maker’s stock.
Several other research analysts have also weighed in on the stock. Cantor Fitzgerald reissued a buy rating and set a $17.00 price objective on shares of Allscripts Healthcare Solutions in a research note on Thursday, August 2nd. ValuEngine lowered shares of Allscripts Healthcare Solutions from a hold rating to a sell rating in a research note on Friday, July 20th. Zacks Investment Research lowered shares of Allscripts Healthcare Solutions from a hold rating to a sell rating in a research note on Thursday, October 4th. TheStreet raised shares of Allscripts Healthcare Solutions from a c+ rating to a b- rating in a research note on Thursday, September 6th. Finally, JPMorgan Chase & Co. lowered shares of Allscripts Healthcare Solutions from an overweight rating to a neutral rating and reduced their price objective for the stock from $16.00 to $12.00 in a research note on Friday. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $15.39.
Allscripts Healthcare Solutions stock traded down $2.28 during midday trading on Friday, hitting $9.76. 16,415,979 shares of the stock were exchanged, compared to its average volume of 1,564,054. Allscripts Healthcare Solutions has a 52 week low of $9.52 and a 52 week high of $16.13. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 1.29 and a beta of 1.34. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.94 and a quick ratio of 0.94.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last released its quarterly earnings data on Thursday, November 1st. The software maker reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). Allscripts Healthcare Solutions had a positive return on equity of 8.21% and a negative net margin of 0.25%. The firm had revenue of $536.00 million for the quarter, compared to the consensus estimate of $546.09 million. During the same period in the previous year, the business earned $0.15 EPS. The firm’s revenue was up 18.8% compared to the same quarter last year. As a group, analysts predict that Allscripts Healthcare Solutions will post 0.56 EPS for the current fiscal year.
Allscripts Healthcare Solutions announced that its Board of Directors has approved a stock repurchase program on Thursday, August 2nd that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the software maker to repurchase up to 11.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.
In other Allscripts Healthcare Solutions news, EVP Brian Farley sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $14.67, for a total transaction of $88,020.00. Following the sale, the executive vice president now directly owns 242,673 shares in the company, valued at approximately $3,560,012.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dennis Olis sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $14.50, for a total transaction of $362,500.00. The disclosure for this sale can be found here. Company insiders own 0.75% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Avestar Capital LLC raised its holdings in Allscripts Healthcare Solutions by 24.1% during the 3rd 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 raised its holdings in shares of Allscripts Healthcare Solutions by 3.0% in the second quarter. Mutual of America Capital Management LLC now owns 152,677 shares of the software maker’s stock valued at $1,832,000 after purchasing an additional 4,442 shares during the last quarter. Guggenheim Capital LLC raised its holdings in shares of Allscripts Healthcare Solutions by 11.0% in the first quarter. Guggenheim Capital LLC now owns 69,606 shares of the software maker’s stock valued at $860,000 after purchasing an additional 6,902 shares during the last quarter. Summit Trail Advisors LLC acquired a new stake in shares of Allscripts Healthcare Solutions in the second quarter valued at approximately $105,000. Finally, North Star Asset Management Inc. raised its holdings in shares of Allscripts Healthcare Solutions by 1.6% in the third quarter. North Star Asset Management Inc. now owns 639,823 shares of the software maker’s stock valued at $9,117,000 after purchasing an additional 9,920 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.
Further Reading: Cash Flow
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