JPMorgan Chase & Co. assumed coverage on shares of Allscripts Healthcare Solutions (NASDAQ:MDRX) in a report released on Monday, TheFlyOnTheWall.com reports. The firm issued an overweight rating and a $18.00 price objective on the stock.
“We believe the growing share of recurring revenues, in part due to the company’s large installed physician base, combined with recent bookings trends, sets the company up well for improving trends in 2014. Although MDRX has been one of the top performers in the healthcare technology universe in 2013 (shares up 61% y/y), we believe its earning power may still be undervalued as the full impact from the new management team’s efforts is still to be realized.,” JPMorgan Chase & Co.’s analyst wrote.
A number of other firms have also recently commented on MDRX. Analysts at Deutsche Bank initiated coverage on shares of Allscripts Healthcare Solutions in a research note to investors on Wednesday, November 20th. They set a buy rating and a $19.00 price target on the stock. Separately, analysts at Thomson Reuters/Verus upgraded shares of Allscripts Healthcare Solutions from a sell rating to a hold rating in a research note to investors on Monday, November 18th. Finally, analysts at Leerink Swann upgraded shares of Allscripts Healthcare Solutions from a market perform rating to an outperform rating in a research note to investors on Friday, November 15th. They now have a $18.00 price target on the stock, up previously from $16.00. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $16.91.
Allscripts Healthcare Solutions (NASDAQ:MDRX) traded up 0.13% during mid-day trading on Monday, hitting $15.24. The stock had a trading volume of 52,384 shares. Allscripts Healthcare Solutions has a 52 week low of $8.85 and a 52 week high of $16.43. The stock’s 50-day moving average is $14.61 and its 200-day moving average is $14.61. The company’s market cap is $2.715 billion.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by $0.03. The company had revenue of $334.00 million for the quarter, compared to the consensus estimate of $355.30 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. Analysts expect that Allscripts Healthcare Solutions will post $0.27 EPS for the current fiscal year.
Allscripts Healthcare Solutions, Inc (NASDAQ:MDRX) is a provider of clinical, financial, connectivity and information solutions and related professional services to hospitals, physicians and post-acute organizations.
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