Teacher Retirement System of Texas grew its position in Veradigm Inc. (NASDAQ:MDRX – Get Rating) by 270.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,583 shares of the software maker's stock after acquiring an additional 56,616 shares during the quarter. Teacher Retirement System of Texas owned 0.07% of Veradigm worth $1,182,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. CWM LLC lifted its position in shares of Veradigm by 578.4% in the 3rd quarter. CWM LLC now owns 2,103 shares of the software maker's stock worth $32,000 after acquiring an additional 1,793 shares during the period. Robeco Institutional Asset Management B.V. bought a new position in shares of Veradigm during the 3rd quarter worth approximately $93,000. MQS Management LLC bought a new position in shares of Veradigm during the 2nd quarter worth approximately $154,000. Prelude Capital Management LLC bought a new position in shares of Veradigm during the 2nd quarter worth approximately $156,000. Finally, Ritholtz Wealth Management bought a new position in shares of Veradigm during the 3rd quarter worth approximately $158,000. Institutional investors own 99.76% of the company's stock.
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Veradigm Stock Up 1.8 %
NASDAQ MDRX opened at $17.91 on Wednesday. The stock has a fifty day moving average of $18.23 and a 200-day moving average of $16.88. The stock has a market capitalization of $1.96 billion, a P/E ratio of 41.65, a price-to-earnings-growth ratio of 1.55 and a beta of 1.01. Veradigm Inc. has a 52 week low of $13.59 and a 52 week high of $23.25. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.20 and a current ratio of 3.20.
Veradigm (NASDAQ:MDRX – Get Rating) last released its earnings results on Thursday, November 3rd. The software maker reported $0.20 EPS for the quarter, beating the consensus estimate of $0.15 by $0.05. The company had revenue of $151.90 million during the quarter, compared to analysts' expectations of $152.79 million. Veradigm had a return on equity of 10.74% and a net
margin of 7.25%. The business's revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the firm earned $0.21 EPS. On average, equities research analysts forecast that Veradigm Inc. will post 0.66 EPS for the current year.
Insider Activity
In other news, SVP Tejal Vakharia sold 8,642 shares of Veradigm stock in a transaction on Monday, December 12th. The stock was sold at an average price of $18.42, for a total value of $159,185.64. Following the completion of the sale, the senior vice president now directly owns 222,604 shares of the company's stock, valued at approximately $4,100,365.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Veradigm news, CEO Richard J. Poulton sold 10,000 shares of the stock in a transaction 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 document filed with the SEC, which is available at the SEC website. Also, SVP Tejal Vakharia sold 8,642 shares of Veradigm stock in a transaction on Monday, December 12th. The stock was sold at an average price of $18.42, for a total transaction of $159,185.64. Following the transaction, the senior vice president now directly owns 222,604 shares in the company, valued at $4,100,365.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,776 shares of company stock valued at $1,137,271. Company insiders own 2.29% of the company's stock.
Analyst Ratings Changes
Several research firms recently commented on MDRX. StockNews.com began coverage on Veradigm in a research report on Wednesday, October 12th. They set a "hold" rating for the company. The Goldman Sachs Group upgraded Veradigm from a "neutral" rating to a "buy" rating and raised their target price for the stock from $22.00 to $23.00 in a research report on Tuesday, November 8th. Argus raised Veradigm from a "hold" rating to a "buy" rating and set a $26.00 price target for the company in a report on Wednesday, December 7th. They noted that the move was a valuation call. JPMorgan Chase & Co. raised their price target on Veradigm from $19.00 to $20.00 and gave the company an "underweight" rating in a report on Friday, November 18th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $17.00 price target on shares of Veradigm in a report on Friday, November 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $22.67.
About Veradigm
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Veradigm, Inc engages in the provision of clinical, financial, and operational results services. It operates through the Provider and Veradigm segments. The Provider segment includes the hospitals and health systems, ambulatory, CarePort, FollowMyHealth, EPSiTM, EISClassics, and 2bPrecise strategic business units.
Further Reading
- Get a free copy of the StockNews.com research report on Veradigm (MDRX)
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