Allscripts Healthcare Solutions Receives New Coverage from Analysts at JPMorgan Chase & Co. (MDRX)
JPMorgan Chase & Co. started coverage on shares of Allscripts Healthcare Solutions (NASDAQ:MDRX) in a research note issued on Monday, TheFlyOnTheWall.com reports. The firm set an “overweight” rating and a $18.00 price target on the stock. JPMorgan Chase & Co.’s price target points to a potential upside of 18.58% from the company’s current price.
The analysts wrote, “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.”
Shares of Allscripts Healthcare Solutions (NASDAQ:MDRX) opened at 15.18 on Monday. Allscripts Healthcare Solutions has a one year low of $8.85 and a one year high of $16.43. The stock’s 50-day moving average is $14.62 and its 200-day moving average is $14.62. The company’s market cap is $2.705 billion.
Allscripts Healthcare Solutions (NASDAQ:MDRX) last released its earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, missing the Thomson Reuters 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 last year, the company posted $0.23 earnings per share. Allscripts Healthcare Solutions’s revenue was down 7.5% compared to the same quarter last year. On average, analysts predict that Allscripts Healthcare Solutions will post $0.27 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. 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 research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $16.91.
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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