Allscripts Healthcare Solutions (MDRX) Earns Buy Rating from Maxim Group

Maxim Group reissued their buy rating on shares of Allscripts Healthcare Solutions (NASDAQ:MDRX) in a research report report published on Tuesday. The brokerage currently has a $20.00 price objective on the software maker’s stock.

“MDRX announced the acquisition of Practice Fusion, a provider of cloud- based electronic health record (EHR) platforms, for $100M in cash. The acquisition is expected to close in 1Q18. We believe Practice Fusion was sold at 1.0x-2.0x revenue, implying a $50M- $100M revenue run rate. It is expected to be marginally accretive in 2018. We estimate that the company’s recently-acquired Enterprise Information Systems (EIS) business is operating at a roughly $400M-$450M revenue run rate, significantly above our original estimate of $300M. We believe attrition in the EIS business may be lower than originally projected.”,” Maxim Group’s analyst wrote.

MDRX has been the subject of a number of other reports. Zacks Investment Research cut shares of Allscripts Healthcare Solutions from a buy rating to a hold rating in a report on Wednesday, November 8th. Robert W. Baird increased their price objective on shares of Allscripts Healthcare Solutions from $16.00 to $17.00 and gave the stock an outperform rating in a research note on Friday, November 3rd. Cantor Fitzgerald reissued a buy rating and issued a $17.00 price objective on shares of Allscripts Healthcare Solutions in a research note on Monday. BidaskClub raised shares of Allscripts Healthcare Solutions from a hold rating to a buy rating in a research note on Wednesday, December 20th. Finally, SunTrust Banks reissued a buy rating and issued a $16.00 price objective on shares of Allscripts Healthcare Solutions in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $15.53.

Shares of Allscripts Healthcare Solutions (NASDAQ:MDRX) traded up $0.09 during mid-day trading on Tuesday, reaching $16.03. 1,440,000 shares of the company’s stock were exchanged, compared to its average volume of 2,320,000. Allscripts Healthcare Solutions has a twelve month low of $11.01 and a twelve month high of $16.12. The stock has a market capitalization of $2,900.00, a PE ratio of -13.82, a P/E/G ratio of 2.17 and a beta of 1.32. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20.

In related news, President Richard J. Poulton sold 15,000 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $14.26, for a total transaction of $213,900.00. Following the completion of the transaction, the president now owns 1,351,773 shares in the company, valued at $19,276,282.98. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brian Farley sold 5,000 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $14.35, for a total transaction of $71,750.00. Following the transaction, the executive vice president now owns 191,607 shares of the company’s stock, valued at approximately $2,749,560.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,796 shares of company stock valued at $804,842. Corporate insiders own 0.91% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Dalton Greiner Hartman Maher & Co. boosted its position in shares of Allscripts Healthcare Solutions by 18.4% during the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 2,990,902 shares of the software maker’s stock worth $43,518,000 after acquiring an additional 465,037 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Allscripts Healthcare Solutions during the third quarter worth $340,000. Neuberger Berman Group LLC boosted its position in shares of Allscripts Healthcare Solutions by 5.5% during the third quarter. Neuberger Berman Group LLC now owns 3,676,088 shares of the software maker’s stock worth $52,311,000 after acquiring an additional 190,158 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Allscripts Healthcare Solutions by 5.6% during the third quarter. California Public Employees Retirement System now owns 506,028 shares of the software maker’s stock worth $7,201,000 after acquiring an additional 26,928 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of Allscripts Healthcare Solutions during the third quarter worth $710,000.

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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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