Allscripts Healthcare Solutions’ (MDRX) Buy Rating Reaffirmed at Cantor Fitzgerald

Allscripts Healthcare Solutions (NASDAQ:MDRX)‘s stock had its “buy” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research note issued on Monday. They presently have a $17.00 price objective on the software maker’s stock. Cantor Fitzgerald’s price target points to a potential upside of 8.97% from the company’s current price.

The analysts wrote, “This morning, Allscripts announced that it would acquire Practice Fusion, a web-based EHR application targeted at small physician groups.””

A number of other research firms also recently issued reports on MDRX. Robert W. Baird reissued a “buy” rating and issued a $16.00 target price on shares of Allscripts Healthcare Solutions in a research report on Tuesday, October 17th. Dougherty & Co reissued a “buy” rating and issued a $16.00 target price (up from $15.00) on shares of Allscripts Healthcare Solutions in a research report on Tuesday, October 3rd. Zacks Investment Research raised Allscripts Healthcare Solutions from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Tuesday, November 7th. SunTrust Banks reissued a “buy” rating and issued a $16.00 target price on shares of Allscripts Healthcare Solutions in a research report on Friday, November 3rd. Finally, Maxim Group reissued a “buy” rating and issued a $16.00 target price on shares of Allscripts Healthcare Solutions in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. Allscripts Healthcare Solutions has an average rating of “Buy” and an average target price of $15.40.

Shares of Allscripts Healthcare Solutions (MDRX) traded up $0.25 on Monday, hitting $15.60. The company had a trading volume of 2,424,200 shares, compared to its average volume of 1,858,267. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $2,750.00, a P/E ratio of -13.45, a price-to-earnings-growth ratio of 2.17 and a beta of 1.32. Allscripts Healthcare Solutions has a one year low of $11.01 and a one year high of $15.64.

In other Allscripts Healthcare Solutions news, EVP Brian Farley sold 5,000 shares of Allscripts Healthcare Solutions stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $14.35, for a total transaction of $71,750.00. Following the completion of the sale, the executive vice president now owns 191,607 shares of the company’s stock, valued at $2,749,560.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP James Hewitt sold 36,796 shares of Allscripts Healthcare Solutions stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $14.11, for a total value of $519,191.56. Following the completion of the transaction, the senior vice president now owns 181,766 shares in the company, valued at approximately $2,564,718.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,796 shares of company stock valued at $804,842. Corporate insiders own 0.91% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Archford Capital Strategies LLC increased its holdings in shares of Allscripts Healthcare Solutions by 6,124.0% in the second quarter. Archford Capital Strategies LLC now owns 6,224 shares of the software maker’s stock worth $958,000 after buying an additional 6,124 shares during the period. ETF Managers Group LLC purchased a new position in shares of Allscripts Healthcare Solutions in the second quarter worth about $152,000. Sheaff Brock Investment Advisors LLC purchased a new position in Allscripts Healthcare Solutions during the 3rd quarter valued at about $174,000. Crossmark Global Holdings Inc. purchased a new position in Allscripts Healthcare Solutions during the 3rd quarter valued at about $187,000. Finally, Shelton Capital Management purchased a new position in Allscripts Healthcare Solutions during the 2nd quarter valued at about $170,000.

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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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