RBC Capital analyst George Hill reiterated a Buy rating on Allscripts (NASDAQ: MDRX) yesterday and set a price target of $14. The company’s shares closed yesterday at $12.59.
According to TipRanks.com, Hill is a 1-star analyst with an average return of -0.4% and a 42.0% success rate. Hill covers the Services sector, focusing on stocks such as Walgreens Boots Alliance, Charles River Labs, and IQVIA Holdings Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Allscripts with a $16.20 average price target, which is a 28.7% 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.
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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.
