In a report released yesterday, Richard Close from Canaccord Genuity reiterated a Buy rating on Allscripts (NASDAQ: MDRX), with a price target of $16. The company’s shares closed yesterday at $12.59.
According to TipRanks.com, Close is a 5-star analyst with an average return of 15.6% and a 61.7% success rate. Close covers the Services sector, focusing on stocks such as Envision Healthcare, Hms Holdings Corp, and Evolent Health.
Allscripts has an analyst consensus of Strong Buy, with a price target consensus of $17, implying a 35.0% upside from current levels. In a report issued on July 26, Maxim Group also assigned a Buy rating to the stock with a $18 price target.
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Based on Allscripts’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $64.7 million. In comparison, last year the company had a GAAP net loss of $154 million.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MDRX in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Allscripts Healthcare Solutions, Inc. engages in the provision of clinical, financial, connectivity, information solutions, and related professional services. It operates through the following segments: Clinical and Financial Solutions; Population Health; and Netsmart.
