Shares of Veradigm Inc. (NASDAQ:MDRX – Get Rating) saw unusually-high trading volume on Wednesday . Approximately 469,463 shares changed hands during trading, a decline of 62% from the previous session's volume of 1,221,541 shares.The stock last traded at $18.03 and had previously closed at $18.03.
Analyst Ratings Changes
MDRX has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on Veradigm from $19.00 to $20.00 and gave the company an "underweight" rating in a research report on Friday, November 18th. Piper Sandler reaffirmed an "overweight" rating and set a $17.00 price objective on shares of Veradigm in a research report on Friday, November 4th. The Goldman Sachs Group upgraded Veradigm from a "neutral" rating to a "buy" rating and increased their price target for the company from $22.00 to $23.00 in a research note on Tuesday, November 8th. StockNews.com assumed coverage on Veradigm in a research note on Wednesday, October 12th. They issued a "hold" rating for the company. Finally, TheStreet upgraded Veradigm from a "c+" rating to a "b-" rating in a research note on Wednesday, November 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Veradigm presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.67.
Get Veradigm alerts:Veradigm Stock Performance
The stock has a market capitalization of $1.97 billion, a PE ratio of 42.02, a PEG ratio of 1.57 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 firm has a 50 day moving average price of $18.26 and a 200-day moving average price of $16.77.
Veradigm (NASDAQ:MDRX – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The software maker reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.05. Veradigm had a return on equity of 10.74% and a net margin of 7.25%. The firm had revenue of $151.90 million during the quarter, compared to analysts' expectations of $152.79 million. During the same period last year, the business posted $0.21 earnings per share. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. Research analysts expect that Veradigm Inc. will post 0.66 EPS for the current fiscal year.Insider Transactions at Veradigm
In other news, CEO Richard J. Poulton sold 10,000 shares of the firm's stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $18.14, for a total value of $181,400.00. Following the completion of the transaction, the chief executive officer now directly owns 722,517 shares in the company, valued at $13,106,458.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director David B. Stevens sold 43,134 shares of the firm's stock in a transaction dated Tuesday, December 6th. The stock was sold at an average price of $18.47, for a total transaction of $796,684.98. Following the sale, the director now directly owns 32,384 shares of the company's stock, valued at $598,132.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard J. Poulton sold 10,000 shares of the firm's stock in a transaction dated Tuesday, November 15th. The stock was 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 disclosure for this sale can be found here. Insiders sold a total of 61,776 shares of company stock worth $1,137,271 over the last three months. 2.29% of the stock is currently owned by insiders.
Institutional Trading of Veradigm
Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC grew its holdings in Veradigm by 578.4% during the third 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. C M Bidwell & Associates Ltd. acquired a new stake in Veradigm in the third quarter valued at approximately $33,000. Robeco Institutional Asset Management B.V. acquired a new stake in Veradigm in the third quarter valued at approximately $93,000. Ritholtz Wealth Management acquired a new stake in Veradigm in the third quarter valued at approximately $158,000. Finally, MQS Management LLC acquired a new stake in Veradigm in the second quarter valued at approximately $154,000. 99.76% of the stock is owned by institutional investors and hedge funds.
About Veradigm
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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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