Zacks Investment Research cut shares of Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) from a hold rating to a sell rating in a research note published on Tuesday.

According to Zacks, “Over the past three months, Allscripts has outperformed the broader industry trend in terms of price movement. Furthermore, a favorable estimate revision trend instills our confidence on the stock. An intensifying market competition is a major dampener for Allscripts as large companies like Cerner, compete against Allscripts with a far simpler rationale for their products. Additionally, the Optum partnership is expected to have a cost-heavy impact on the revenues. Allscripts’ products have a long sales cycle which involves decision-making at different managerial levels. On a positive note, Allscripts has been reporting regular contract wins and addition of new domestic and international clients, which is expected to boost bookings in the coming quarters. Furthermore, the growing adoption of Allscripts’ products and services like the Sunrise platform, FollowMyHealth, Touchworks EHR, EPSi and dbMotion will drive market traction.”

MDRX has been the subject of a number of other research reports. Dougherty & Co assumed coverage on Allscripts Healthcare Solutions in a report on Friday, December 2nd. They set a neutral rating for the company. Jefferies Group LLC reaffirmed a buy rating and set a $16.50 target price on shares of Allscripts Healthcare Solutions in a report on Friday, February 17th. FBR & Co reaffirmed a hold rating and set a $12.00 target price on shares of Allscripts Healthcare Solutions in a report on Sunday, January 8th. Canaccord Genuity reaffirmed a buy rating and set a $17.00 target price on shares of Allscripts Healthcare Solutions in a report on Tuesday, January 3rd. Finally, Cantor Fitzgerald lifted their target price on Allscripts Healthcare Solutions from $12.00 to $13.00 and gave the company an in-line rating in a report on Friday, February 17th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $14.78.

Allscripts Healthcare Solutions (NASDAQ:MDRX) opened at 12.02 on Tuesday. The company’s market cap is $2.17 billion. The company has a 50-day moving average of $11.98 and a 200-day moving average of $11.81. Allscripts Healthcare Solutions has a one year low of $9.80 and a one year high of $15.17.

Allscripts Healthcare Solutions (NASDAQ:MDRX) last posted its earnings results on Thursday, February 16th. The company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.01. The company had revenue of $425.40 million for the quarter, compared to analysts’ expectations of $424.11 million. Allscripts Healthcare Solutions had a negative net margin of 0.14% and a positive return on equity of 5.79%. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 EPS. Equities research analysts expect that Allscripts Healthcare Solutions will post $0.62 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently modified their holdings of MDRX. Norges Bank acquired a new position in shares of Allscripts Healthcare Solutions during the fourth quarter valued at approximately $28,999,000. Thrivent Financial for Lutherans raised its position in shares of Allscripts Healthcare Solutions by 7.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 31,450 shares of the company’s stock valued at $321,000 after buying an additional 2,260 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Allscripts Healthcare Solutions by 11.7% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 45,000 shares of the company’s stock valued at $459,000 after buying an additional 4,700 shares during the last quarter. Guggenheim Capital LLC raised its position in shares of Allscripts Healthcare Solutions by 4.4% in the fourth quarter. Guggenheim Capital LLC now owns 149,708 shares of the company’s stock valued at $1,529,000 after buying an additional 6,301 shares during the last quarter. Finally, Tudor Investment Corp Et Al raised its position in shares of Allscripts Healthcare Solutions by 36.3% in the fourth quarter. Tudor Investment Corp Et Al now owns 22,900 shares of the company’s stock valued at $234,000 after buying an additional 6,100 shares during the last quarter.

Allscripts Healthcare Solutions Company Profile

Allscripts Healthcare Solutions, Inc delivers information technology (IT) and services to help healthcare organizations in clinical, financial and operational results. The Company operates through two segments: Clinical and Financial Solutions, and Population Health. The Clinical and Financial Solutions segment includes the sale of integrated clinical software applications and financial and information solutions, which primarily include electronic health record (EHR)-related software, financial and practice management software, related installation, support and maintenance, outsourcing, hosting, revenue cycle management, training and electronic claims administration services.

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