Royal Bank Of Canada initiated coverage on shares of Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) in a research report sent to investors on Tuesday morning, MarketBeat.com reports. The firm issued an outperform rating and a $17.00 price target on the software maker’s stock.

A number of other equities research analysts also recently issued reports on the stock. Leerink Swann downgraded shares of Allscripts Healthcare Solutions from an outperform rating to a market perform rating and lowered their price target for the stock from $15.00 to $13.00 in a report on Monday, June 19th. Piper Jaffray Companies reaffirmed a hold rating and issued a $14.00 target price on shares of Allscripts Healthcare Solutions in a research note on Friday, July 21st. BidaskClub raised shares of Allscripts Healthcare Solutions from a sell rating to a hold rating in a research note on Saturday, June 24th. Cowen and Company raised shares of Allscripts Healthcare Solutions from a market perform rating to an outperform rating and raised their target price for the company from $13.00 to $16.00 in a research note on Monday, September 11th. Finally, Jefferies Group LLC set a $17.00 target price on shares of Allscripts Healthcare Solutions and gave the company a buy rating in a research note on Friday, August 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $14.94.

Shares of Allscripts Healthcare Solutions (NASDAQ:MDRX) traded down 0.760% during trading on Tuesday, hitting $13.705. 990,087 shares of the stock traded hands. The company’s market cap is $2.48 billion. Allscripts Healthcare Solutions has a 1-year low of $9.80 and a 1-year high of $13.97. The stock has a 50-day moving average of $13.01 and a 200 day moving average of $12.40.

Allscripts Healthcare Solutions (NASDAQ:MDRX) last announced its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). Allscripts Healthcare Solutions had a positive return on equity of 5.97% and a negative net margin of 11.54%. The firm had revenue of $426.10 million during the quarter, compared to analysts’ expectations of $424.94 million. During the same period in the previous year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts predict that Allscripts Healthcare Solutions will post $0.62 EPS for the current fiscal year.

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In other Allscripts Healthcare Solutions news, President Richard J. Poulton sold 15,000 shares of Allscripts Healthcare Solutions stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $13.56, for a total transaction of $203,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Brian Farley sold 5,000 shares of Allscripts Healthcare Solutions stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $13.52, for a total transaction of $67,600.00. Following the transaction, the executive vice president now directly owns 196,607 shares in the company, valued at $2,658,126.64. The disclosure for this sale can be found here. Insiders have sold 35,000 shares of company stock worth $473,800 over the last three months. Insiders own 0.75% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Archford Capital Strategies LLC raised its stake in shares of Allscripts Healthcare Solutions by 6,124.0% during the second quarter. Archford Capital Strategies LLC now owns 6,224 shares of the software maker’s stock worth $958,000 after acquiring an additional 6,124 shares in the last quarter. FNY Partners Fund LP grew its holdings in shares of Allscripts Healthcare Solutions by 900.0% in the first quarter. FNY Partners Fund LP now owns 8,000 shares of the software maker’s stock worth $101,000 after purchasing an additional 7,200 shares during the last quarter. Invictus RG bought a new position in shares of Allscripts Healthcare Solutions in the first quarter worth approximately $105,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Allscripts Healthcare Solutions by 9.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,434 shares of the software maker’s stock worth $120,000 after purchasing an additional 816 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of Allscripts Healthcare Solutions by 60.2% in the first quarter. Bank of Montreal Can now owns 9,914 shares of the software maker’s stock worth $126,000 after purchasing an additional 3,724 shares during the last quarter.

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.

Analyst Recommendations for Allscripts Healthcare Solutions (NASDAQ:MDRX)

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