Allscripts Healthcare Solutions (NASDAQ:MDRX) Stock Rating Reaffirmed by Canaccord Genuity

Allscripts Healthcare Solutions (NASDAQ:MDRX)‘s stock had its “buy” rating reissued by equities research analysts at Canaccord Genuity in a research note issued to investors on Friday, AnalystRatings.com reports.

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group cut shares of Allscripts Healthcare Solutions from a “buy” rating to a “hold” rating and cut their target price for the stock from $10.50 to $7.00 in a report on Wednesday, April 22nd. SunTrust Banks raised their target price on shares of Allscripts Healthcare Solutions from $6.00 to $7.00 and gave the stock a “hold” rating in a report on Wednesday, May 13th. ValuEngine raised shares of Allscripts Healthcare Solutions from a “sell” rating to a “hold” rating in a report on Friday, May 1st. Morgan Stanley lifted their price target on Allscripts Healthcare Solutions from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Wednesday, May 13th. Finally, Deutsche Bank cut their price target on Allscripts Healthcare Solutions from $11.00 to $9.00 and set a “hold” rating on the stock in a report on Thursday, June 11th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.93.

NASDAQ:MDRX traded up $1.41 during mid-day trading on Friday, reaching $9.00. The stock had a trading volume of 7,277,317 shares, compared to its average volume of 1,111,904. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.78 and a quick ratio of 0.78. The stock’s 50 day simple moving average is $6.77 and its two-hundred day simple moving average is $7.16. Allscripts Healthcare Solutions has a 1-year low of $4.56 and a 1-year high of $11.82. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -27.27, a price-to-earnings-growth ratio of 3.59 and a beta of 0.98.

Allscripts Healthcare Solutions (NASDAQ:MDRX) last issued its earnings results on Thursday, July 30th. The software maker reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.10. Allscripts Healthcare Solutions had a negative net margin of 3.06% and a positive return on equity of 5.52%. The firm had revenue of $406.20 million for the quarter, compared to analysts’ expectations of $399.80 million. Sell-side analysts anticipate that Allscripts Healthcare Solutions will post 0.38 EPS for the current fiscal year.

In related news, insider Lisa Khorey sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $7.06, for a total transaction of $211,800.00. Following the sale, the insider now owns 285,889 shares of the company’s stock, valued at $2,018,376.34. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.42% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. First Trust Advisors LP grew its holdings in shares of Allscripts Healthcare Solutions by 110.5% during the 1st quarter. First Trust Advisors LP now owns 79,028 shares of the software maker’s stock valued at $754,000 after acquiring an additional 41,492 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of Allscripts Healthcare Solutions by 3.6% during the 4th quarter. UBS Asset Management Americas Inc. now owns 187,996 shares of the software maker’s stock valued at $1,845,000 after acquiring an additional 6,448 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Allscripts Healthcare Solutions during the 4th quarter valued at $449,000. Geode Capital Management LLC grew its holdings in shares of Allscripts Healthcare Solutions by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 2,834,508 shares of the software maker’s stock valued at $27,820,000 after acquiring an additional 84,092 shares in the last quarter. Finally, Pearl River Capital LLC purchased a new position in shares of Allscripts Healthcare Solutions during the 4th quarter valued at $144,000.

About Allscripts Healthcare Solutions

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 (EHR), connectivity, private cloud hosting, outsourcing, analytics, patient engagement, clinical decision support, and population health management solutions.

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Analyst Recommendations for Allscripts Healthcare Solutions (NASDAQ:MDRX)

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