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TheStreet Open House

5 Stocks Insiders Love Right Now

Stocks in this article: NATRQTMESRXAKAMMDRX

Allscripts Healthcare Solutions

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A software compnay that insiders are buying a decent amount of stock in is Allscripts Healthcare Solutions (MDRX), a provider of clinical, financial, connectivity and information solutions and related professional services that empower hospitals, physicians and post-acute organizations to deliver world-class outcomes. Insiders are buying this stock big time strength, since shares are up 44.5% in 2013.

Allscripts Healthcare Solutions has a market cap of $2.34 billion and an enterprise value $2.72 billion. This stock trades at a reasonable valuation, with a forward price-to-earnings of 15.81. Its estimated growth rate for this year is 4.5%, and for next year it's pegged at 22.9%. This is not a cash-rich company, since the total cash position on its balance sheet is $103.96 million and its total debt is $444.28 million.

A director just bought 39,600 shares, or about 504,000 worth of stock, at $12.74 per share. Another director also just bought 40,000 shares, or about 501,000 worth of stock, at $12.53 per share.

From a technical perspective, MDRX is currently trending above both its 50-day and 200-day moving averages, which is bullish. This stock has been uptrending strong for the last three months, with shares soaring higher from its low of $8.85 to its recent high of $13.88 a share. During that uptrend, shares of MDRX have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of MDRX within range of triggering a major breakout trade.

Traders should now look for long-biased trades in MDRX as long as it's trending above some key near-term support at $13 to $12 a share and then once it breaks out above some key overhead resistance levels at $13.88 to $14.23 a share with high volume. Look for a sustained move or close above those breakout levels with volume that hits near or above its three-month average action of 3.91 million shares. If that breakout triggers soon, then MDRX will set up to re-fill some of its previous gap down zone from last April that started at $16 a share. Any high-volume move above $16 will then put $18 to $20 into range for shares of MDRX.

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