Allscripts Healthcare Solutions (NASDAQ:MDRX) Downgraded to “C” at TheStreet

TheStreet downgraded shares of Allscripts Healthcare Solutions (NASDAQ:MDRXGet Rating) from a b rating to a c rating in a research report report published on Friday morning, TheStreetRatingsTable reports.

Several other analysts have also recently issued reports on the company. StockNews.com cut Allscripts Healthcare Solutions from a buy rating to a hold rating in a research note on Monday, May 2nd. Zacks Investment Research cut Allscripts Healthcare Solutions from a buy rating to a hold rating and set a $23.00 price objective on the stock. in a research note on Tuesday, March 29th. Deutsche Bank Aktiengesellschaft upgraded Allscripts Healthcare Solutions from a hold rating to a buy rating and upped their price objective for the company from $20.00 to $26.00 in a research note on Friday, March 4th. Piper Sandler cut their price objective on Allscripts Healthcare Solutions from $22.00 to $19.00 in a research note on Friday. Finally, SVB Leerink upped their price objective on Allscripts Healthcare Solutions from $22.00 to $24.00 and gave the company an outperform rating in a research note on Thursday, March 3rd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $22.00.

NASDAQ:MDRX opened at $18.12 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.39 and a current ratio of 1.39. Allscripts Healthcare Solutions has a one year low of $13.05 and a one year high of $23.25. The business’s 50-day simple moving average is $21.67 and its 200 day simple moving average is $19.23. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 1.67 and a beta of 0.98.

Allscripts Healthcare Solutions (NASDAQ:MDRXGet Rating) last released its quarterly earnings results on Thursday, May 5th. The software maker reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.03). Allscripts Healthcare Solutions had a return on equity of 10.86% and a net margin of 11.60%. The business had revenue of $142.70 million during the quarter, compared to analyst estimates of $139.67 million. During the same quarter last year, the firm posted $0.13 EPS. The company’s revenue was up 6.7% compared to the same quarter last year. On average, equities research analysts predict that Allscripts Healthcare Solutions will post 0.69 EPS for the current year.

In other news, CEO Paul Black sold 60,000 shares of the 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Richard J. Poulton sold 10,000 shares of the 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. 1.91% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of MDRX. First Trust Advisors LP grew 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 worth $754,000 after buying an additional 41,492 shares in the last quarter. Raymond James & Associates grew its holdings in Allscripts Healthcare Solutions by 9.0% in the 3rd quarter. Raymond James & Associates now owns 24,334 shares of the software maker’s stock worth $325,000 after buying an additional 2,000 shares in the last quarter. Deutsche Bank AG boosted its stake in Allscripts Healthcare Solutions by 23.1% during the 3rd quarter. Deutsche Bank AG now owns 465,766 shares of the software maker’s stock valued at $6,228,000 after purchasing an additional 87,265 shares in the last quarter. Barclays PLC boosted its stake in Allscripts Healthcare Solutions by 114.4% during the 3rd quarter. Barclays PLC now owns 279,007 shares of the software maker’s stock valued at $3,731,000 after purchasing an additional 148,884 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in Allscripts Healthcare Solutions by 5.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 22,491 shares of the software maker’s stock valued at $301,000 after purchasing an additional 1,163 shares in the last quarter.

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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Analyst Recommendations for Allscripts Healthcare Solutions (NASDAQ:MDRX)

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