Cowen Cuts Allscripts Healthcare Solutions to Neutral (MDRX)
Allscripts Healthcare Solutions (NASDAQ: MDRX) was downgraded by investment analysts at Cowen from an “outperform” rating to a “neutral” rating in a note issued to investors on Friday.
Shares of Allscripts Healthcare Solutions traded up 6.90% during mid-day trading on Friday, hitting $11.01. Allscripts Healthcare Solutions has a 52 week low of $8.99 and a 52 week high of $21.92. The company has a market cap of $2.092 billion and a P/E ratio of 26.48.
The company last announced its quarterly results on Thursday, April 26th. It reported $0.12 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.24 EPS by $0.12. The company’s quarterly revenue was up 8.8% on a year-over-year basis. On average, analysts predict that Allscripts Healthcare Solutions will post $0.26 earnings per share next quarter.
A number of other firms have also recently commented on MDRX. Analysts at Oppenheimer (NYSE: OPY) downgraded shares of Allscripts Healthcare Solutions from an “outperform” rating to a “market perform” rating in a research note to investors on Friday. Separately, analysts at Piper Jaffray (NYSE: PJC) downgraded shares of Allscripts Healthcare Solutions from an “overweight” rating to a “neutral” rating in a research note to investors on Friday. They now have a $11.00 price target on the stock, down previously from $24.00. Finally, analysts at Jefferies Group (NYSE: JEF) downgraded shares of Allscripts Healthcare Solutions from a “buy” rating to a “hold” rating in a research note to investors on Friday. They now have a $10.50 price target on the stock.
Allscripts Healthcare Solutions, Inc., formerly Allscripts-Misys Healthcare Solutions, Inc. (Allscripts), is a provider of clinical software, services, information and connectivity solutions that are used by physicians and other healthcare providers to improve the quality of healthcare.