MDRX - Allscripts announces $200M accelerated share buyback plan

Allscripts Healthcare Solutions ([[MDRX]] +0.1%) has announced an accelerated share repurchase ((ASR)) program to buy back ~9.1M of company shares of common stock on or after June 15.In return, the company will pay $200M to the ASR counterparties including JPMorgan Chase and Wells Fargo Bank.The ASR Agreements follows the share repurchase program announced by Allscripts in May to buy back $350M of its common stock.Considering the ASR agreements and prior open market purchases, the company expects $108M worth of share repurchases to remain under authorization.As indicated in the graph, Allscripts has more than doubled in value over the past 12-month period.Seeking Alpha contributor Edmund Ingham thinks the stock has room to reach $20-25 per share citing the company’s share buyback program, profitability, and potential to grow the top-line at ~5% in the long term.

For further details see:

Allscripts announces $200M accelerated share buyback plan