Oppenheimer Keeps Their Hold Rating on Allscripts (MDRX)


In a report released today, Mohan Naidu from Oppenheimer maintained a Hold rating on Allscripts (MDRX). The company’s shares closed yesterday at $9.94.

Naidu said:

“MDRX reported record Q1 bookings at $286M, up 9%, helped by the strength in the new Veradigm segment. Mgmt. highlighted that Veradigm’s relative contribution was much higher than the current revenue contribution in the quarter. The company expects to continue to pursue opportunities in the segment to expand the footprint. On the traditional provider-facing solutions, we continue to believe the market’s current sluggish appetite for spending is likely to continue to impact growth but the traction in the Paragon segment, where attrition seems to be reversing, and the opportunities on the International side bring hope. No major changes to the estimates as we wait for the segment details in the 10Q.”

According to TipRanks.com, Naidu is a 5-star analyst with an average return of 9.5% and a 53.8% success rate. Naidu covers the Services sector, focusing on stocks such as Tivity Health Inc, Hms Holdings Corp, and Evolent Health.

The word on The Street in general, suggests a Hold analyst consensus rating for Allscripts with a $11.60 average price target, implying a 16.7% upside from current levels. In a report released yesterday, Cantor Fitzgerald also reiterated a Hold rating on the stock with a $10 price target.

See today’s analyst top recommended stocks >>

Based on Allscripts’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $126 million. In comparison, last year the company had a GAAP net loss of $39.87 million.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts