Zacks Investment Research upgraded shares of Allscripts Healthcare Solutions (NASDAQ:MDRX) from a sell rating to a hold rating in a research report sent to investors on Friday morning.
According to Zacks, “Allscripts continues to gain from its core software, delivery, support and maintenance units, which projected solid growth in recent times. The company’s growth in revenue cycle services and acquisition of McKesson’s EIS business have lent it a competitive edge. The recently-closed acquisition of HealthGrid is likely to boost its flagship FollowMyHealth patient engagement platform. On the negative side, Allscripts underperformed the industry in a year's time. Allscripts' margins are under pressure due to decline in non-recurring software license revenues in recent times. Year-over-year decline in bookings is a concern. In fact, management expects to some volatility in bookings in the quarters ahead. The company also witnessed significant contraction in margins. The company is exposed to integration risks. Intense competition in the MedTech space adds to woes. “
Other equities research analysts also recently issued research reports about the stock. TheStreet raised shares of Allscripts Healthcare Solutions from a c+ rating to a b- rating in a research note on Thursday, September 6th. Cantor Fitzgerald downgraded shares of Allscripts Healthcare Solutions from an overweight rating to a neutral rating and set a $12.00 price target on the stock. in a research note on Thursday, November 1st. JPMorgan Chase & Co. downgraded shares of Allscripts Healthcare Solutions from an overweight rating to a neutral rating and decreased their price target for the company from $16.00 to $12.00 in a research note on Friday, November 2nd. SunTrust Banks downgraded shares of Allscripts Healthcare Solutions from a buy rating to a hold rating in a research note on Friday, November 2nd. Finally, Bank of America decreased their price target on shares of Allscripts Healthcare Solutions from $16.50 to $15.00 and set a buy rating on the stock in a research note on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $15.51.
Shares of MDRX stock traded down $0.02 during mid-day trading on Friday, hitting $9.49. The company had a trading volume of 1,987,302 shares, compared to its average volume of 1,544,112. Allscripts Healthcare Solutions has a 52-week low of $9.24 and a 52-week high of $16.13. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $1.66 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 1.34 and a beta of 1.28.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last released its earnings results on Thursday, November 1st. The software maker reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). Allscripts Healthcare Solutions had a positive return on equity of 8.25% and a negative net margin of 0.25%. The company had revenue of $536.00 million during the quarter, compared to analysts’ expectations of $546.09 million. During the same period last year, the firm posted $0.15 EPS. Allscripts Healthcare Solutions’s quarterly revenue was up 18.8% compared to the same quarter last year. On average, research analysts predict that Allscripts Healthcare Solutions will post 0.54 EPS for the current fiscal year.
In other news, EVP Brian Farley sold 6,000 shares of the stock in a transaction on 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.75% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in MDRX. Principal Financial Group Inc. raised its stake in shares of Allscripts Healthcare Solutions by 2.7% in the first quarter. Principal Financial Group Inc. now owns 1,029,996 shares of the software maker’s stock valued at $12,720,000 after acquiring an additional 26,865 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Allscripts Healthcare Solutions by 28.0% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 61,095 shares of the software maker’s stock valued at $733,000 after acquiring an additional 13,360 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Allscripts Healthcare Solutions in the second quarter valued at $160,000. First Trust Advisors LP bought a new position in shares of Allscripts Healthcare Solutions in the second quarter worth about $748,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Allscripts Healthcare Solutions by 14.7% in the second quarter. Victory Capital Management Inc. now owns 1,603,613 shares of the software maker’s stock worth $19,243,000 after purchasing an additional 205,360 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.
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