Allscripts (MDRX) Expected to Post Quarterly Sales of $532.66 Million

Equities analysts expect that Allscripts (NASDAQ:MDRX) will post $532.66 million in sales for the current quarter, according to Zacks. Nine analysts have made estimates for Allscripts’ earnings, with the lowest sales estimate coming in at $505.70 million and the highest estimate coming in at $552.10 million. Allscripts posted sales of $415.10 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 28.3%. The company is scheduled to announce its next quarterly earnings report after the market closes on Thursday, May 3rd.

According to Zacks, analysts expect that Allscripts will report full-year sales of $2.20 billion for the current year, with estimates ranging from $2.16 billion to $2.22 billion. For the next year, analysts anticipate that the firm will post sales of $2.29 billion per share, with estimates ranging from $2.22 billion to $2.34 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover Allscripts.

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Allscripts (NASDAQ:MDRX) last released its quarterly earnings results on Thursday, February 15th. The software maker reported $0.18 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. Allscripts had a negative net margin of 10.88% and a positive return on equity of 7.36%. The business had revenue of $547.00 million for the quarter, compared to analysts’ expectations of $524.05 million. During the same period in the prior year, the firm earned $0.14 earnings per share. Allscripts’s revenue was up 27.5% compared to the same quarter last year.

Several analysts have recently commented on MDRX shares. Citigroup started coverage on shares of Allscripts in a research note on Thursday, January 4th. They set a “buy” rating on the stock. Cantor Fitzgerald reissued a “buy” rating and set a $17.00 price target on shares of Allscripts in a research note on Monday, January 8th. Maxim Group reissued a “buy” rating and set a $20.00 price target on shares of Allscripts in a research note on Tuesday, January 9th. Royal Bank of Canada set a $19.00 price objective on shares of Allscripts and gave the company a “buy” rating in a report on Thursday, January 11th. Finally, Zacks Investment Research lowered shares of Allscripts from a “hold” rating to a “sell” rating in a report on Friday, January 12th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $16.22.

Shares of MDRX traded down $0.06 during mid-day trading on Thursday, hitting $12.32. 910,579 shares of the company traded hands, compared to its average volume of 1,632,360. Allscripts has a one year low of $10.78 and a one year high of $16.13. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $2,192.38, a P/E ratio of 26.21, a price-to-earnings-growth ratio of 1.59 and a beta of 1.23.

In other Allscripts news, President Richard J. Poulton sold 15,000 shares of the stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $13.53, for a total value of $202,950.00. Following the sale, the president now directly owns 505,920 shares in the company, valued at $6,845,097.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Brian Farley sold 5,000 shares of the stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $13.73, for a total transaction of $68,650.00. Following the completion of the sale, the executive vice president now owns 240,672 shares in the company, valued at $3,304,426.56. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of MDRX. Legal & General Group Plc raised its holdings in Allscripts by 24.4% in the third quarter. Legal & General Group Plc now owns 234,439 shares of the software maker’s stock worth $3,337,000 after purchasing an additional 45,954 shares during the period. Envestnet Asset Management Inc. raised its holdings in Allscripts by 1,341.6% in the third quarter. Envestnet Asset Management Inc. now owns 34,699 shares of the software maker’s stock worth $494,000 after purchasing an additional 32,292 shares during the period. Cubist Systematic Strategies LLC raised its holdings in Allscripts by 67,189.1% in the third quarter. Cubist Systematic Strategies LLC now owns 30,953 shares of the software maker’s stock worth $440,000 after purchasing an additional 30,907 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Allscripts in the third quarter worth $710,000. Finally, California Public Employees Retirement System raised its holdings in Allscripts by 5.6% in the third quarter. California Public Employees Retirement System now owns 506,028 shares of the software maker’s stock worth $7,201,000 after purchasing an additional 26,928 shares during the period.

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Allscripts Company Profile

Allscripts Healthcare Solutions, Inc provides information technology solutions and services to healthcare organizations in the United States, Canada, and internationally. It offers electronic health records, connectivity, private cloud hosting, outsourcing, analytics, patient engagement, clinical decision support, and population health management solutions.

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