Veradigm Inc. (NASDAQ:MDRX – Get Rating) has been assigned an average recommendation of "Moderate Buy" from the nine analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $22.67.
Several equities research analysts have weighed in on MDRX shares. TheStreet upgraded shares of Veradigm from a "c+" rating to a "b-" rating in a research report on Wednesday, November 30th. JPMorgan Chase & Co. raised their target price on shares of Veradigm from $19.00 to $20.00 and gave the company an "underweight" rating in a research note on Friday, November 18th. Piper Sandler reaffirmed an "overweight" rating and issued a $17.00 target price on shares of Veradigm in a research note on Friday, November 4th. The Goldman Sachs Group raised shares of Veradigm from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $22.00 to $23.00 in a research note on Tuesday, November 8th. Finally, StockNews.com started coverage on shares of Veradigm in a research note on Wednesday, October 12th. They set a "hold" rating on the stock.
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Insider Buying and Selling at Veradigm
In other Veradigm news, CEO Richard J. Poulton sold 10,000 shares of Veradigm stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $18.14, for a total value of $181,400.00. Following the transaction, the chief executive officer now owns 722,517 shares of the company's stock, valued at $13,106,458.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Richard J. Poulton sold 10,000 shares of Veradigm stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $18.14, for a total value of $181,400.00. Following the sale, the chief executive officer now directly owns 722,517 shares in the company, valued at $13,106,458.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tejal Vakharia sold 8,642 shares of Veradigm stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $18.42, for a total transaction of $159,185.64. Following the completion of the sale, the senior vice president now owns 222,604 shares in the company, valued at $4,100,365.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,776 shares of company stock valued at $1,137,271. 2.29% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Veradigm
A number of institutional investors have recently added to or reduced their stakes in MDRX. Allspring Global Investments Holdings LLC increased its holdings in shares of Veradigm by 816.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 285,192 shares of the software maker's stock valued at $5,031,000 after purchasing an additional 254,060 shares during the last quarter. Ritholtz Wealth Management increased its holdings in shares of Veradigm by 108.6% in the fourth quarter. Ritholtz Wealth Management now owns 21,599 shares of the software maker's stock valued at $381,000 after purchasing an additional 11,243 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of Veradigm by 1.2% in the fourth quarter. SummerHaven Investment Management LLC now owns 54,269 shares of the software maker's stock valued at $957,000 after purchasing an additional 621 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Veradigm by 4.1% in the third quarter. Bank of New York Mellon Corp now owns 1,321,136 shares of the software maker's stock valued at $20,121,000 after purchasing an additional 51,463 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. acquired a new position in shares of Veradigm in the third quarter valued at $93,000. 99.76% of the stock is currently owned by institutional investors and hedge funds.
Veradigm Stock Performance
Shares of Veradigm stock opened at $18.03 on Thursday. The stock has a market capitalization of $1.97 billion, a P/E ratio of 41.93, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.17. The company has a 50-day simple moving average of $18.26 and a 200 day simple moving average of $16.77. Veradigm has a 12-month low of $13.59 and a 12-month high of $23.25.
Veradigm (NASDAQ:MDRX – Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The software maker reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.05. The firm had revenue of $151.90 million during the quarter, compared to analysts' expectations of $152.79 million. Veradigm had a net margin of 7.25% and a return on equity of 10.74%. The company's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.21 EPS. Research analysts expect that Veradigm will post 0.66 earnings per share for the current fiscal year.
Veradigm Company Profile
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Allscripts Healthcare Solutions, Inc, together with its subsidiaries, provides information technology solutions and services to healthcare organizations in the United States, Canada, and internationally. It offers electronic health records (EHR), information connectivity, private cloud hosting, outsourcing, analytics, patient access, and population health management solutions.
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