Zacks: Analysts Expect Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) Will Post Quarterly Sales of $372.51 Million

Analysts expect Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) to report $372.51 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Allscripts Healthcare Solutions’ earnings, with the highest sales estimate coming in at $375.20 million and the lowest estimate coming in at $367.97 million. Allscripts Healthcare Solutions posted sales of $406.20 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 8.3%. The company is expected to report its next quarterly earnings results on Thursday, July 29th.

On average, analysts expect that Allscripts Healthcare Solutions will report full year sales of $1.50 billion for the current year, with estimates ranging from $1.50 billion to $1.51 billion. For the next financial year, analysts anticipate that the company will report sales of $1.53 billion, with estimates ranging from $1.51 billion to $1.55 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Allscripts Healthcare Solutions.

Allscripts Healthcare Solutions (NASDAQ:MDRX) last posted its earnings results on Wednesday, April 28th. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.04. The company had revenue of $368.40 million during the quarter, compared to analysts’ expectations of $368.42 million. Allscripts Healthcare Solutions had a return on equity of 7.17% and a net margin of 46.70%. During the same quarter last year, the firm earned $0.09 earnings per share.

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised their target price on Allscripts Healthcare Solutions from $15.00 to $17.00 and gave the stock a “hold” rating in a research note on Thursday, May 20th. Piper Sandler dropped their price objective on Allscripts Healthcare Solutions from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Friday, February 26th. Canaccord Genuity lifted their price objective on Allscripts Healthcare Solutions from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, April 30th. SVB Leerink lifted their price objective on Allscripts Healthcare Solutions from $16.00 to $17.00 and gave the company a “market perform” rating in a research note on Wednesday, May 26th. Finally, Argus reaffirmed a “hold” rating on shares of Allscripts Healthcare Solutions in a research note on Monday, March 8th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $13.17.

In other Allscripts Healthcare Solutions news, CEO Paul Black sold 60,000 shares of Allscripts Healthcare Solutions stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $15.72, for a total transaction of $943,200.00. Also, Director Michael Klayko sold 113,000 shares of Allscripts Healthcare Solutions stock in a transaction dated Friday, June 4th. The stock was sold at an average price of $18.00, for a total value of $2,034,000.00. Following the sale, the director now directly owns 66,581 shares of the company’s stock, valued at $1,198,458. The disclosure for this sale can be found here. Insiders have sold a total of 201,000 shares of company stock valued at $3,482,040 over the last ninety days. 1.91% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Bank of Montreal Can lifted its holdings in shares of Allscripts Healthcare Solutions by 2.2% in the 1st quarter. Bank of Montreal Can now owns 42,552 shares of the software maker’s stock valued at $655,000 after purchasing an additional 906 shares during the last quarter. Point72 Hong Kong Ltd lifted its holdings in shares of Allscripts Healthcare Solutions by 152.9% in the 1st quarter. Point72 Hong Kong Ltd now owns 2,119 shares of the software maker’s stock valued at $32,000 after purchasing an additional 1,281 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Allscripts Healthcare Solutions by 1.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 94,629 shares of the software maker’s stock valued at $1,366,000 after purchasing an additional 1,316 shares during the last quarter. Eqis Capital Management Inc. lifted its holdings in shares of Allscripts Healthcare Solutions by 16.1% in the 1st quarter. Eqis Capital Management Inc. now owns 12,718 shares of the software maker’s stock valued at $191,000 after purchasing an additional 1,761 shares during the last quarter. Finally, Eaton Vance Management purchased a new stake in shares of Allscripts Healthcare Solutions in the 1st quarter valued at about $30,000.

MDRX stock traded up $0.03 during midday trading on Tuesday, hitting $18.08. 26,950 shares of the company’s stock were exchanged, compared to its average volume of 1,822,746. The company’s 50-day simple moving average is $16.48. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $2.55 billion, a PE ratio of 3.74, a PEG ratio of 3.97 and a beta of 1.08. Allscripts Healthcare Solutions has a 1-year low of $5.77 and a 1-year high of $18.20.

Allscripts Healthcare Solutions announced that its Board of Directors has initiated a share buyback program on Wednesday, May 26th that allows the company to buyback $350.00 million in shares. This buyback authorization allows the software maker to purchase up to 14% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Allscripts Healthcare Solutions Company Profile

Allscripts Healthcare Solutions, Inc, together with its subsidiaries, provides information technology solutions and services to healthcare organizations in the United States, Canada, and internationally. It offers electronic health records (EHR), information connectivity, private cloud hosting, outsourcing, analytics, patient access, and population health management solutions.

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Earnings History and Estimates for Allscripts Healthcare Solutions (NASDAQ:MDRX)

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