Allscripts Healthcare Solutions (MDRX) Downgraded by Cantor Fitzgerald

Cantor Fitzgerald lowered shares of Allscripts Healthcare Solutions (NASDAQ:MDRX) from an overweight rating to a neutral rating in a report published on Thursday morning, Marketbeat reports. The brokerage currently has $12.00 price objective on the software maker’s stock.

MDRX has been the topic of a number of other reports. ValuEngine raised shares of Allscripts Healthcare Solutions from a sell rating to a hold rating in a research note on Thursday, August 2nd. BidaskClub upgraded shares of Allscripts Healthcare Solutions from a sell rating to a hold rating in a report on Saturday, August 4th. TheStreet upgraded shares of Allscripts Healthcare Solutions from a c+ rating to a b- rating in a report on Thursday, September 6th. Royal Bank of Canada restated a buy rating and issued a $14.00 target price on shares of Allscripts Healthcare Solutions in a report on Friday, August 3rd. Finally, Zacks Investment Research upgraded shares of Allscripts Healthcare Solutions from a sell rating to a hold rating in a report on Tuesday, August 7th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $15.39.

Shares of NASDAQ:MDRX traded down $2.28 on Thursday, reaching $9.76. 16,415,979 shares of the company were exchanged, compared to its average volume of 1,564,054. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.41. Allscripts Healthcare Solutions has a 1-year low of $9.52 and a 1-year high of $16.13. The stock has a market cap of $1.70 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34.

Allscripts Healthcare Solutions (NASDAQ:MDRX) last posted its quarterly earnings results on Thursday, November 1st. The software maker reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.01). Allscripts Healthcare Solutions had a positive return on equity of 8.21% and a negative net margin of 0.25%. The company had revenue of $536.00 million for the quarter, compared to analyst estimates of $546.09 million. During the same period last year, the company earned $0.15 earnings per share. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. Equities analysts anticipate that Allscripts Healthcare Solutions will post 0.56 earnings per share for the current year.

Allscripts Healthcare Solutions declared that its Board of Directors has authorized a stock buyback program on Thursday, August 2nd that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the software maker to repurchase up to 11.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

In other news, CFO Dennis Olis sold 25,000 shares of the stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $14.50, for a total transaction of $362,500.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brian Farley sold 6,000 shares of the stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $14.67, for a total transaction of $88,020.00. Following the transaction, the executive vice president now owns 242,673 shares in the company, valued at $3,560,012.91. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.

Several hedge funds have recently made changes to their positions in MDRX. Summit Trail Advisors LLC purchased a new position in shares of Allscripts Healthcare Solutions during the 2nd quarter worth about $105,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Allscripts Healthcare Solutions during the 2nd quarter worth about $160,000. Fox Run Management L.L.C. purchased a new position in shares of Allscripts Healthcare Solutions during the 2nd quarter worth about $204,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Allscripts Healthcare Solutions during the 2nd quarter worth about $229,000. Finally, Avestar Capital LLC lifted its holdings in shares of Allscripts Healthcare Solutions by 24.1% during the 3rd quarter. Avestar Capital LLC now owns 20,051 shares of the software maker’s stock worth $270,000 after acquiring an additional 3,899 shares during the period.

About Allscripts Healthcare Solutions

Allscripts Healthcare Solutions, Inc provides information technology solutions and services to healthcare organizations in the United States, Canada, and internationally. It offers electronic health records, connectivity, private cloud hosting, outsourcing, analytics, patient engagement, clinical decision support, and population health management solutions.

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Analyst Recommendations for Allscripts Healthcare Solutions (NASDAQ:MDRX)

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