Allscripts Healthcare Solutions Inc. [MDRX] Director makes an insider sale of 60,000 shares worth 994,896.

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. 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 $19.38 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 $21.47 million.

As published in their initiating research note from Goldman on July 12, 2022, Allscripts Healthcare Solutions Inc. [MDRX] has been a Neutral and the price target has been revised to $21. This represents a 26.43% premium over Thursday’s closing price. Analysts at Deutsche Bank upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early March. As of January 25, 2022, SVB Leerink has increased its “Mkt perform” rating to a “an Outperform” for MDRX.

Analyzing MDRX’s Price Performance

On Thursday, Allscripts Healthcare Solutions Inc. [NASDAQ: MDRX] plunged -2.09% to $15.45. The stock’s lowest price that day was $15.315, but it reached a high of $15.83 in the same session. During the last five days, there has been a drop of approximately -1.34%. Over the course of the year, Allscripts Healthcare Solutions Inc. shares have dropped approximately -16.26%. Shares of the company reached a 52-week high of $23.25 on 04/21/22 and a 52-week low of $13.99 on 07/14/22. A 50-day SMA is recorded $15.64, while a 200-day SMA reached $18.13. Nevertheless, trading volume fell to 1.7 million shares from 0.9 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 15.23, which, if violated, would cause prices to drop to 15.02. In the upper region, resistance lies at 15.75. The next price resistance is at 16.05. RSI (Relative Strength Index) is 50.93 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.37, which suggests the price will decrease in the coming days. Percent R is at 33.51%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Allscripts Healthcare Solutions Inc. subject to short interest?

Stocks of Allscripts Healthcare Solutions Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -2.07 million shares to 10.98 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 13.05 million shares. A decline of -18.85% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.84 of the overall float, the days-to-cover ratio (short ratio) decline to 6.84.

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 transaction, The Vanguard Group, Inc.’s stake is now worth $202,504,095. Dimensional Fund Advisors LP reduced a -4.05% interest valued at $143.57 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 $56.97 million.

In terms of Allscripts Healthcare Solutions Inc. share price expectations, FactSet research, analysts set an average price target of $21.38 in the next 12 months, up nearly 36.25% from the previous closing price of $15.78. Analysts anticipate Allscripts Healthcare Solutions Inc. stock to reach $26.00 by 2022, with the lowest price target being $17.00. In spite of this, 10 analysts ranked Allscripts Healthcare Solutions Inc. stock as an Overweight at the end of 2022.


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