Sunday, June 26, 2022

Insider Selling: Black Paul, Allscripts Healthcare Solutions Inc. [MDRX] Director divested 60,000 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Allscripts Healthcare Solutions Inc. shares valued at $994,896 were sold by Black Paul on Jun 10. At $16.58 per share, Black Paul sold 60,000 shares. The insider’s holdings dropped to 1,254,631 shares worth approximately $19.27 million following the completion of this transaction.


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Also, Black Paul sold 75,000 shares, netting a total of over 1,301,258 in proceeds. Following the sale of shares at $17.35 each, the insider now holds 1,314,631 shares.

Before that, Black Paul had sold 65,450 shares from its account. In a trade valued at $1,132,612, the Director traded Allscripts Healthcare Solutions Inc. shares for $17.30 each. Upon closing the transaction, the insider’s holdings decreased to 65,450 shares, worth approximately $21.34 million.

As published in a research note from Deutsche Bank on March 04, 2022, Allscripts Healthcare Solutions Inc. [MDRX] has been rated up from a Hold to a Buy and the price target has been revised to $26 from $20. This represents a 40.92% premium over Wednesday’s closing price. Analysts at SVB Leerink upgraded the stock from ‘”a Mkt perform”‘ to ‘”an Outperform”‘ outlook in a report released in late January. Earlier on March 02, 2021, Argus downgraded its rating. Their new recommendation was “a Hold” for MDRX stock which previously was a “a Buy”.

Analyzing MDRX’s Price Performance

On Wednesday, Allscripts Healthcare Solutions Inc. [NASDAQ: MDRX] rose 1.32% to $15.36. The stock’s lowest price that day was $15.04, but it reached a high of $15.48 in the same session. During the last five days, there has been a surge of approximately 0.99%. Over the course of the year, Allscripts Healthcare Solutions Inc. shares have dropped approximately -16.75%. Shares of the company reached a 52-week high of $23.25 on 04/21/22 and a 52-week low of $14.70 on 06/16/22. A 50-day SMA is recorded $18.61, while a 200-day SMA reached $17.96. Nevertheless, trading volume fell to 1.28 million shares from 1.61 million shares the previous day.

Support And Resistance Levels for Allscripts Healthcare Solutions Inc. (MDRX)

According to the 24-hour chart, there is a support level at 15.11, which, if violated, would cause prices to drop to 14.85. In the upper region, resistance lies at 15.55. The next price resistance is at 15.73. RSI (Relative Strength Index) is 33.16 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.06, which suggests the price will decrease in the coming days. Percent R is at 79.63%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Which companies own the most shares of Allscripts Healthcare Solutions Inc. (MDRX)?

According to BlackRock Fund Advisors filings, the company currently owns 19,140,756 shares, which is about 16.50% of the total MDRX shares outstanding. The investor’s shares have plunged by -405,262 from its previous 13-F filing of 19546018.0 shares. With the completion of the buy, The Vanguard Group, Inc.’s stake is now worth $233,364,463. Dimensional Fund Advisors LP reduced a -4.05% interest valued at $165.45 million while Fisher Asset Management LLC sold a -57,581 stake. A total of 136,905 shares of Allscripts Healthcare Solutions Inc. were sold by SSgA Funds Management, Inc. during the quarter, and 1,015,591 were bought by D. E. Shaw & Co. LP. In its current portfolio, Fuller & Thaler Asset Management, holds 3,841,491 shares valued at $65.65 million.

In terms of Allscripts Healthcare Solutions Inc. share price expectations, FactSet research, analysts set an average price target of $22.00 in the next 12 months, up nearly 45.12% from the previous closing price of $15.16. Analysts anticipate Allscripts Healthcare Solutions Inc. stock to reach $27.00 by 2022, with the lowest price target being $17.00. In spite of this, 9 analysts ranked Allscripts Healthcare Solutions Inc. stock as an Overweight at the end of 2022. On November 11, 2020, Argus assigned a price target of “a Buy” to the stock and upgraded coverage with a $14.

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