Maxim Group analyst Anthony Vendetti maintained a Buy rating on Allscripts (NASDAQ: MDRX) today and set a price target of $18. The company’s shares closed yesterday at $12.59.
Vendetti said:
“Market close, MDRX reported mixed 2Q18 results. Non- GAAP revenue and EPS were relatively inline, but bookings were below expectations. The company maintained its 2018 guidance for revenue, EBITDA, and EPS. MDRX has signed a letter of intent (LOI) to sell its investment in Netsmart, with a definitive agreement expected in 3Q18. Board approved a new $250M stock repurchase plan running through 2020.”
According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 10.3% and a 55.6% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Restoration Robotics Inc, and Xtant Medical Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Allscripts with a $16.20 average price target, implying a 28.7% upside from current levels. In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $17 price target.
.
See today’s analyst top recommended stocks >>
The company has a one-year high of $16.13 and a one-year low of $10.78. Currently, Allscripts has an average volume of 1.74M.
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.
