Allscripts Healthcare Solutions, Inc. (MDRX) Rating Reiterated by SunTrust Banks, Inc.
Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX)‘s stock had its “buy” rating reaffirmed by equities researchers at SunTrust Banks, Inc. in a research note issued on Friday. They currently have a $16.00 price target on the software maker’s stock. SunTrust Banks, Inc.’s price objective points to a potential upside of 23.65% from the company’s current price.
Several other research analysts also recently commented on the company. KeyCorp reissued a “hold” rating on shares of Allscripts Healthcare Solutions in a research note on Friday, October 27th. Zacks Investment Research downgraded Allscripts Healthcare Solutions from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Cowen and Company raised Allscripts Healthcare Solutions from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $13.00 to $16.00 in a research note on Monday, September 11th. Piper Jaffray Companies reissued a “hold” rating and issued a $14.00 price objective on shares of Allscripts Healthcare Solutions in a research note on Friday, July 21st. Finally, Jefferies Group LLC set a $17.00 price objective on Allscripts Healthcare Solutions and gave the company a “buy” rating in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $15.13.
Allscripts Healthcare Solutions (NASDAQ:MDRX) traded up $0.19 during midday trading on Friday, reaching $12.94. The company had a trading volume of 3,153,506 shares, compared to its average volume of 1,746,091. Allscripts Healthcare Solutions has a 1 year low of $9.80 and a 1 year high of $14.45. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.13. The firm has a market cap of $2,337.12, a P/E ratio of 30.09, a P/E/G ratio of 2.42 and a beta of 1.35.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last posted its quarterly earnings data on Thursday, August 3rd. The software maker reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.04). Allscripts Healthcare Solutions had a negative net margin of 12.23% and a positive return on equity of 6.44%. The firm had revenue of $426.10 million during the quarter, compared to analyst estimates of $424.94 million. During the same period in the prior year, the company posted $0.14 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. research analysts predict that Allscripts Healthcare Solutions will post 0.45 EPS for the current fiscal year.
In related news, President Richard J. Poulton sold 15,000 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $13.56, for a total transaction of $203,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brian Farley sold 5,000 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $13.52, for a total value of $67,600.00. Following the transaction, the executive vice president now directly owns 196,607 shares in the company, valued at approximately $2,658,126.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,000 shares of company stock worth $473,800. 0.75% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new stake in Allscripts Healthcare Solutions in the 2nd quarter valued at about $134,000. Bank of Montreal Can raised its position in Allscripts Healthcare Solutions by 6.9% in the 2nd quarter. Bank of Montreal Can now owns 10,603 shares of the software maker’s stock valued at $135,000 after purchasing an additional 689 shares in the last quarter. World Asset Management Inc raised its position in Allscripts Healthcare Solutions by 0.7% in the 2nd quarter. World Asset Management Inc now owns 11,419 shares of the software maker’s stock valued at $146,000 after purchasing an additional 81 shares in the last quarter. ETF Managers Group LLC acquired a new stake in Allscripts Healthcare Solutions in the 2nd quarter valued at about $152,000. Finally, Shelton Capital Management acquired a new stake in Allscripts Healthcare Solutions in the 2nd quarter valued at about $170,000.
Allscripts Healthcare Solutions Company Profile
Allscripts Healthcare Solutions, Inc (Allscripts) delivers information technology (IT) solutions and services to help healthcare organizations. The Company operates through three segments: Clinical and Financial Solutions, Population Health, and Netsmart. The Clinical and Financial Solutions segment includes the sale of integrated clinical software applications and financial and information solutions.
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