Allscripts Healthcare Solutions, Inc. (MDRX) Lowered to Sell at Zacks Investment Research

Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

According to Zacks, “Over the last year, Allscripts has traded below the broader industry in terms of price. Allscripts exited the second quarter on a favorable note, wherein adjusted earnings were in line with the Zacks Consensus Estimate, while revenues beat the same. A solid guidance for full-year 2017 and a strong long-term outlook are the key highlights at the moment. Allscripts announced its plans to takeover the hospital and health system business from McKesson Corporation, which is expected to close by the fourth quarter. Allscripts’ continued reliance on mergers and acquisition activities presents a substantial integration risk for the company. Furthermore, intensifying market competition is a major dampener for Allscripts. The company also expects a modest increase in operating expenses during the second half of the year to support business growth.”

A number of other research analysts have also weighed in on the stock. Dougherty & Co reaffirmed a “buy” rating and issued a $16.00 price target (up previously from $15.00) on shares of Allscripts Healthcare Solutions in a research note on Tuesday, October 3rd. Citigroup Inc. lifted their price target on shares of Allscripts Healthcare Solutions from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, August 7th. Cantor Fitzgerald raised shares of Allscripts Healthcare Solutions from a “neutral” rating to an “overweight” rating and set a $12.00 price target on the stock in a research note on Tuesday, August 15th. Maxim Group reaffirmed a “buy” rating and issued a $16.00 price target on shares of Allscripts Healthcare Solutions in a research note on Friday, August 4th. Finally, Royal Bank Of Canada initiated coverage on shares of Allscripts Healthcare Solutions in a research note on Tuesday, September 19th. They issued an “outperform” rating and a $17.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. Allscripts Healthcare Solutions currently has an average rating of “Hold” and a consensus target price of $15.19.

Allscripts Healthcare Solutions (MDRX) traded down 0.250% on Tuesday, reaching $13.945. 666,278 shares of the company’s stock traded hands. The firm’s market cap is $2.52 billion. The stock’s 50 day moving average is $13.59 and its 200 day moving average is $12.62. Allscripts Healthcare Solutions has a 52-week low of $9.80 and a 52-week high of $14.45.

Allscripts Healthcare Solutions (NASDAQ:MDRX) last released its quarterly earnings data on Thursday, August 3rd. The software maker reported $0.11 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $424.94 million. During the same period in the previous year, the business earned $0.14 EPS. The firm’s 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.

TRADEMARK VIOLATION NOTICE: This piece was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another domain, it was copied illegally and reposted in violation of US & international copyright laws. The correct version of this piece can be read at https://ledgergazette.com/2017/10/10/allscripts-healthcare-solutions-inc-mdrx-lowered-to-sell-at-zacks-investment-research.html.

In other news, EVP Brian Farley sold 5,000 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $13.52, for a total value of $67,600.00. Following the sale, the executive vice president now owns 196,607 shares of the company’s stock, valued at $2,658,126.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Paul Black sold 15,000 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $13.52, for a total transaction of $202,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 35,000 shares of company stock worth $473,800. 0.75% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of MDRX. TimesSquare Capital Management LLC increased its holdings in Allscripts Healthcare Solutions by 1,322.5% during the second quarter. TimesSquare Capital Management LLC now owns 4,039,900 shares of the software maker’s stock worth $51,549,000 after buying an additional 3,755,900 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Allscripts Healthcare Solutions by 26.9% during the second quarter. Dimensional Fund Advisors LP now owns 9,171,285 shares of the software maker’s stock worth $117,026,000 after buying an additional 1,943,496 shares during the last quarter. Mesirow Financial Investment Management Equity Management acquired a new position in Allscripts Healthcare Solutions during the second quarter worth $18,797,000. State Street Corp increased its holdings in Allscripts Healthcare Solutions by 28.6% during the second quarter. State Street Corp now owns 5,975,551 shares of the software maker’s stock worth $76,251,000 after buying an additional 1,330,721 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Allscripts Healthcare Solutions by 70.8% during the second quarter. Northern Trust Corp now owns 2,930,365 shares of the software maker’s stock worth $37,391,000 after buying an additional 1,215,020 shares during the last quarter.

About Allscripts Healthcare Solutions

Allscripts Healthcare Solutions, Inc (Allscripts) delivers i

According to Zacks, “Over the last year, Allscripts has traded below the broader industry in terms of price. Allscripts exited the second quarter on a favorable note, wherein adjusted earnings were in line with the Zacks Consensus Estimate, while revenues beat the same. A solid guidance for full-year 2017 and a strong long-term outlook are the key highlights at the moment. Allscripts announced its plans to takeover the hospital and health system business from McKesson Corporation, which is expected to close by the fourth quarter. Allscripts’ continued reliance on mergers and acquisition activities presents a substantial integration risk for the company. Furthermore, intensifying market competition is a major dampener for Allscripts. The company also expects a modest increase in operating expenses during the second half of the year to support business growth.”

A number of other research analysts have also weighed in on the stock. Dougherty & Co reaffirmed a “buy” rating and issued a $16.00 price target (up previously from $15.00) on shares of Allscripts Healthcare Solutions in a research note on Tuesday, October 3rd. Citigroup Inc. lifted their price target on shares of Allscripts Healthcare Solutions from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, August 7th. Cantor Fitzgerald raised shares of Allscripts Healthcare Solutions from a “neutral” rating to an “overweight” rating and set a $12.00 price target on the stock in a research note on Tuesday, August 15th. Maxim Group reaffirmed a “buy” rating and issued a $16.00 price target on shares of Allscripts Healthcare Solutions in a research note on Friday, August 4th. Finally, Royal Bank Of Canada initiated coverage on shares of Allscripts Healthcare Solutions in a research note on Tuesday, September 19th. They issued an “outperform” rating and a $17.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. Allscripts Healthcare Solutions currently has an average rating of “Hold” and a consensus target price of $15.19.

Allscripts Healthcare Solutions (MDRX) traded down 0.250% on Tuesday, reaching $13.945. 666,278 shares of the company’s stock traded hands. The firm’s market cap is $2.52 billion. The stock’s 50 day moving average is $13.59 and its 200 day moving average is $12.62. Allscripts Healthcare Solutions has a 52-week low of $9.80 and a 52-week high of $14.45.

Allscripts Healthcare Solutions (NASDAQ:MDRX) last released its quarterly earnings data on Thursday, August 3rd. The software maker reported $0.11 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $424.94 million. During the same period in the previous year, the business earned $0.14 EPS. The firm’s 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.

TRADEMARK VIOLATION NOTICE: This piece was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another domain, it was copied illegally and reposted in violation of US & international copyright laws. The correct version of this piece can be read at https://ledgergazette.com/2017/10/10/allscripts-healthcare-solutions-inc-mdrx-lowered-to-sell-at-zacks-investment-research.html.

In other news, EVP Brian Farley sold 5,000 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $13.52, for a total value of $67,600.00. Following the sale, the executive vice president now owns 196,607 shares of the company’s stock, valued at $2,658,126.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Paul Black sold 15,000 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $13.52, for a total transaction of $202,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 35,000 shares of company stock worth $473,800. 0.75% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of MDRX. TimesSquare Capital Management LLC increased its holdings in Allscripts Healthcare Solutions by 1,322.5% during the second quarter. TimesSquare Capital Management LLC now owns 4,039,900 shares of the software maker’s stock worth $51,549,000 after buying an additional 3,755,900 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Allscripts Healthcare Solutions by 26.9% during the second quarter. Dimensional Fund Advisors LP now owns 9,171,285 shares of the software maker’s stock worth $117,026,000 after buying an additional 1,943,496 shares during the last quarter. Mesirow Financial Investment Management Equity Management acquired a new position in Allscripts Healthcare Solutions during the second quarter worth $18,797,000. State Street Corp increased its holdings in Allscripts Healthcare Solutions by 28.6% during the second quarter. State Street Corp now owns 5,975,551 shares of the software maker’s stock worth $76,251,000 after buying an additional 1,330,721 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Allscripts Healthcare Solutions by 70.8% during the second quarter. Northern Trust Corp now owns 2,930,365 shares of the software maker’s stock worth $37,391,000 after buying an additional 1,215,020 shares during the last quarter.

About Allscripts Healthcare Solutions

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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