In a report released today, Stephanie Davis from Leerink Partners maintained a Hold rating on Allscripts (MDRX), with a price target of $15.00. The company’s shares closed last Thursday at $15.74, close to its 52-week high of $17.96.
According to TipRanks.com, Davis is a 5-star analyst with an average return of 24.5% and a 64.5% success rate. Davis covers the Technology sector, focusing on stocks such as Computer Programs and Systems, Tabula Rasa HealthCare, and Nuance Communications.
The word on The Street in general, suggests a Hold analyst consensus rating for Allscripts with a $14.50 average price target, which is a -11.9% downside from current levels. In a report issued on February 16, Piper Sandler also initiated coverage with a Hold rating on the stock with a $17.00 price target.
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Based on Allscripts’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $402 million and net profit of $542K. In comparison, last year the company earned revenue of $444 million and had a GAAP net loss of $5.73 million.
Based on the recent corporate insider activity of 47 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.