According to Zacks, “Allscripts continues to gain from its Software, Delivery, Support and Maintenance units, which delivered solid growth in the last couple of quarters. Significant growth in bookings also buoys optimism. The company’s growth in revenue cycle services along with the recently-closed acquisition of HealthGrid is likely to boost its FollowMyHealth patient engagement platform. Apart from these, management is optimistic about the collaboration with Microsoft made in the recent past. On the flip side, the company’s core Client Services unit has reported dismal performance in recent times. Also, Allscripts saw significant margin contraction in the last reported quarter. The company is exposed to integration risks. Intense competition in the niche space is an added concern. Over the past year, Allscripts has underperformed its industry.”
Other analysts also recently issued reports about the stock. BidaskClub downgraded shares of Allscripts Healthcare Solutions from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 2nd. ValuEngine downgraded shares of Allscripts Healthcare Solutions from a “hold” rating to a “sell” rating in a report on Tuesday, December 25th. Finally, Citigroup downgraded shares of Allscripts Healthcare Solutions from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $14.00 to $12.00 in a report on Friday, February 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $14.35.
Shares of MDRX stock traded down $0.44 during trading hours on Wednesday, hitting $9.27. The company’s stock had a trading volume of 48,615 shares, compared to its average volume of 1,586,398. The company has a market capitalization of $1.59 billion, a P/E ratio of 16.85, a price-to-earnings-growth ratio of 1.89 and a beta of 1.30. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.08. Allscripts Healthcare Solutions has a 12-month low of $8.54 and a 12-month high of $14.97.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last released its quarterly earnings data on Thursday, February 21st. The software maker reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). The business had revenue of $538.00 million during the quarter, compared to analysts’ expectations of $565.52 million. Allscripts Healthcare Solutions had a net margin of 18.15% and a return on equity of 7.74%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the company earned $0.18 earnings per share. As a group, sell-side analysts forecast that Allscripts Healthcare Solutions will post 0.5 earnings per share for the current year.
In related news, insider Brian Farley sold 6,000 shares of the stock in a transaction on Friday, January 18th. The shares were sold at an average price of $12.00, for a total transaction of $72,000.00. Following the sale, the insider now directly owns 235,673 shares of the company’s stock, valued at $2,828,076. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Thrivent Financial for Lutherans lifted its holdings in Allscripts Healthcare Solutions by 3.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 44,332 shares of the software maker’s stock valued at $427,000 after purchasing an additional 1,387 shares in the last quarter. Arizona State Retirement System lifted its holdings in Allscripts Healthcare Solutions by 1.1% during the fourth quarter. Arizona State Retirement System now owns 125,399 shares of the software maker’s stock valued at $1,209,000 after purchasing an additional 1,417 shares in the last quarter. ETF Managers Group LLC lifted its holdings in Allscripts Healthcare Solutions by 15.8% during the fourth quarter. ETF Managers Group LLC now owns 10,561 shares of the software maker’s stock valued at $102,000 after purchasing an additional 1,440 shares in the last quarter. Creative Planning lifted its holdings in Allscripts Healthcare Solutions by 4.1% during the fourth quarter. Creative Planning now owns 37,793 shares of the software maker’s stock valued at $364,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in Allscripts Healthcare Solutions by 6.3% during the fourth quarter. Amalgamated Bank now owns 25,449 shares of the software maker’s stock valued at $245,000 after purchasing an additional 1,501 shares in 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Allscripts Healthcare Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allscripts Healthcare Solutions and related companies with MarketBeat.com's FREE daily email newsletter.