In a report released today, Eugene Mannheimer from Colliers Securities reiterated a Buy rating on Allscripts (MDRX), with a price target of $18.00. The company’s shares closed last Friday at $15.56.
According to TipRanks.com, Mannheimer is a 4-star analyst with an average return of 14.9% and a 60.2% success rate. Mannheimer covers the Technology sector, focusing on stocks such as Computer Programs and Systems, NextGen Healthcare, and Castlight Health.
Currently, the analyst consensus on Allscripts is a Hold with an average price target of $15.67, representing a -0.4% downside. In a report issued on April 29, Canaccord Genuity also maintained a Buy rating on the stock with a $18.00 price target.
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Based on Allscripts’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $278 million and net profit of $728 million. In comparison, last year the company earned revenue of $312 million and had a GAAP net loss of $18.97 million.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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. The Clinical and Financial Solutions segment involves in the sale of clinical software applications and financial and information solutions. The Population Health segment offers health management and coordinated care solutions. The Netsmart segment operates in the home care and behavioral healthcare information technology field throughout the United States. The company was founded in 1986 and is headquartered in Chicago, IL.
