The stock of Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) hit a new 52-week low and has $9.66 target or 6.00% below today’s $10.28 share price. The 5 months bearish chart indicates high risk for the $1.90 billion company. The 1-year low was reported on Nov, 9 by Barchart.com. If the $9.66 price target is reached, the company will be worth $114.00M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 2.31M shares traded hands or 4.52% up from the average. Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) has declined 24.71% since April 7, 2016 and is downtrending. It has underperformed by 29.49% the S&P500.
Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) Ratings Coverage
Out of 16 analysts covering Allscripts-Misys Healthcare (NASDAQ:MDRX), 10 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 63% are positive. Allscripts-Misys Healthcare has been the topic of 25 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The rating was upgraded by Leerink Swann on Tuesday, August 23 to “Outperform”. The stock of Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) has “Sector Perform” rating given on Wednesday, August 5 by RBC Capital Markets. The stock has “Overweight” rating given by JP Morgan on Friday, October 28. On Wednesday, August 5 the stock rating was maintained by Topeka Capital Markets with “Hold”. The stock of Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) has “Buy” rating given on Friday, October 16 by Jefferies. The rating was initiated by Canaccord Genuity with “Buy” on Wednesday, September 16. The rating was upgraded by Argus Research on Monday, August 24 to “Buy”. Argus Research maintained the shares of MDRX in a report on Friday, January 22 with “Buy” rating. The rating was initiated by UBS with “Buy” on Thursday, October 6. The rating was maintained by RBC Capital Markets on Friday, February 19 with “Outperform”.
According to Zacks Investment Research, “Allscripts Healthcare Solutions, Inc. offers clinical software, services, information and connectivity solutions that enable physicians and healthcare providers to deliver patients safety and clinical outcomes in the US. The Company provides intuitive clinical and business solutions including Electronic Health Records, practice management, revenue cycle management, document management, electronic prescribing, clinical trials and services for small to mid-sized practices. It also provides advanced clinical and business solutions including Electronic Health Records, practice management, revenue cycle management, document management, electronic prescribing, clinical trials and optimization services for large physician practices, academic medical centers and hospitals. In addition, the Company’s Health Systems Group has Emergency Department and care management systems for hospitals, as well as homecare and referral management solutions for post-acute providers. Allscripts is headquartered in Chicago, Illinois.”
Insitutional Activity: The institutional sentiment decreased to 1.25 in Q2 2016. Its down 0.13, from 1.38 in 2016Q1. The ratio is negative, as 27 funds sold all Allscripts Healthcare Solutions Inc shares owned while 64 reduced positions. 25 funds bought stakes while 89 increased positions. They now own 185.59 million shares or 2.43% less from 190.21 million shares in 2016Q1.
The Colorado-based Icon Advisers has invested 0.2% in Allscripts Healthcare Solutions Inc (NASDAQ:MDRX). Financial Bank Of America De, a North Carolina-based fund reported 937,968 shares. Analytic Invsts Ltd Com reported 51,827 shares or 0.01% of all its holdings. Moreover, Manufacturers Life Insurance The has 0% invested in Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) for 252,436 shares. Highlander Capital Mgmt Limited Liability has 0.01% invested in the company for 1,000 shares. Checchi Capital Advisers Lc has 244 shares for 0% of their US portfolio. Aqr Capital Management Llc accumulated 743,610 shares or 0.02% of the stock. Schwab Charles Inv Mngmt has invested 0.04% of its portfolio in Allscripts Healthcare Solutions Inc (NASDAQ:MDRX). Acadian Asset Mngmt Limited, a Massachusetts-based fund reported 856,244 shares. Patten And Patten Tn, a Tennessee-based fund reported 58,365 shares. Lba Wealth Limited Liability has 0% invested in the company for 400 shares. Proshare Lc holds 21,818 shares or 0% of its portfolio. Third Avenue Ltd Liability, a New York-based fund reported 204,351 shares. Gray Financial Group Ga Adv Adv has 0% invested in the company for 16,090 shares. Boothbay Fund Management Ltd Com last reported 0.09% of its portfolio in the stock.
Insider Transactions: Since June 13, 2016, the stock had 0 insider purchases, and 7 insider sales for $1.20 million net activity. HEWITT JAMES sold 17,500 shares worth $227,500. Olis Dennis sold $98,000 worth of Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) on Monday, July 11. Another trade for 10,000 shares valued at $130,300 was sold by Poulton Richard J.. $195,600 worth of shares were sold by Black Paul on Monday, June 13.
MDRX Company Profile
Allscripts Healthcare Solutions, Inc., incorporated on July 11, 2000, delivers information technology (IT) and services to help healthcare organizations in clinical, financial and operational results. The Firm operates through two divisions: Clinical and Financial Solutions, and Population Health. The Clinical and Financial Solutions segment includes the sale of integrated clinical software applications and financial and information solutions, which primarily include electronic health record (EHR)-related software, financial and practice management software, related installation, support and maintenance, outsourcing, hosting, revenue cycle management, training and electronic claims administration services. The Company’s Population Health segment includes the sale of health management and coordinated care solutions, which are mainly focused on hospitals, health systems, other care facilities and accountable care organizations (ACOs). These solutions enable clients to connect, transition, analyze, and coordinate care across the care community.
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