Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) Expected to Announce Quarterly Sales of $372.77 Million

Brokerages predict that Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRXGet Rating) will post $372.77 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Allscripts Healthcare Solutions’ earnings. The lowest sales estimate is $369.60 million and the highest is $374.60 million. Allscripts Healthcare Solutions posted sales of $368.40 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.2%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Allscripts Healthcare Solutions will report full-year sales of $1.52 billion for the current financial year, with estimates ranging from $1.51 billion to $1.53 billion. For the next financial year, analysts expect that the business will report sales of $1.55 billion, with estimates ranging from $1.52 billion to $1.57 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Allscripts Healthcare Solutions.

Allscripts Healthcare Solutions (NASDAQ:MDRXGet Rating) last announced its quarterly earnings data on Thursday, February 24th. The software maker reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.47. Allscripts Healthcare Solutions had a return on equity of 10.91% and a net margin of 8.94%. The company had revenue of $391.70 million for the quarter, compared to analyst estimates of $390.63 million. During the same quarter in the previous year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year.

A number of brokerages have weighed in on MDRX. StockNews.com raised Allscripts Healthcare Solutions from a “hold” rating to a “buy” rating in a report on Friday, April 8th. SVB Leerink lifted their price objective on Allscripts Healthcare Solutions from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, March 3rd. TheStreet raised Allscripts Healthcare Solutions from a “c+” rating to a “b” rating in a research note on Friday, February 25th. Piper Sandler boosted their price target on Allscripts Healthcare Solutions from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, March 18th. Finally, Zacks Investment Research lowered Allscripts Healthcare Solutions from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a research note on Tuesday, March 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.50.

Shares of MDRX opened at $22.49 on Friday. Allscripts Healthcare Solutions has a twelve month low of $13.05 and a twelve month high of $23.25. The stock’s 50 day moving average is $21.61 and its two-hundred day moving average is $18.61. The firm has a market capitalization of $2.76 billion, a PE ratio of 22.27, a P/E/G ratio of 1.81 and a beta of 0.98. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.25.

In related news, CEO Paul Black sold 60,000 shares of Allscripts Healthcare Solutions stock in a transaction that occurred on Thursday, March 10th. The stock was sold at an average price of $21.87, for a total transaction of $1,312,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard J. Poulton sold 10,000 shares of Allscripts Healthcare Solutions stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of $20.83, for a total value of $208,300.00. The disclosure for this sale can be found here. Insiders own 1.91% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of MDRX. First Trust Advisors LP raised its holdings in Allscripts Healthcare Solutions by 110.5% in 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 during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Allscripts Healthcare Solutions by 15.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 166,109 shares of the software maker’s stock valued at $2,221,000 after acquiring an additional 22,474 shares during the last quarter. Maryland State Retirement & Pension System acquired a new position in Allscripts Healthcare Solutions in the 3rd quarter valued at $664,000. Nordea Investment Management AB raised its holdings in Allscripts Healthcare Solutions by 484.1% in the 3rd quarter. Nordea Investment Management AB now owns 243,032 shares of the software maker’s stock valued at $3,288,000 after acquiring an additional 201,427 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Allscripts Healthcare Solutions by 20.7% during the 3rd quarter. SG Americas Securities LLC now owns 582,533 shares of the software maker’s stock worth $7,788,000 after buying an additional 99,713 shares during the last quarter. Institutional investors own 96.40% of the company’s stock.

About Allscripts Healthcare Solutions (Get Rating)

Allscripts Healthcare Solutions, Inc, together with its subsidiaries, provides information technology solutions and services to healthcare organizations in the United States, Canada, and internationally. It offers electronic health records (EHR), information connectivity, private cloud hosting, outsourcing, analytics, patient access, and population health management solutions.

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