Comerica Bank Sells 11,460 Shares of Veradigm Inc. (NASDAQ:MDRX)

Comerica Bank trimmed its stake in Veradigm Inc. (NASDAQ:MDRXGet Rating) by 9.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 105,544 shares of the software maker’s stock after selling 11,460 shares during the quarter. Comerica Bank owned 0.10% of Veradigm worth $1,511,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. CWM LLC lifted its holdings in shares of Veradigm by 578.4% during the third quarter. CWM LLC now owns 2,103 shares of the software maker’s stock valued at $32,000 after purchasing an additional 1,793 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new position in shares of Veradigm during the third quarter valued at $93,000. MQS Management LLC bought a new position in shares of Veradigm during the second quarter valued at $154,000. Prelude Capital Management LLC bought a new position in shares of Veradigm during the second quarter valued at $156,000. Finally, Ritholtz Wealth Management purchased a new stake in Veradigm during the third quarter valued at $158,000. 99.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. TheStreet upgraded Veradigm from a “c+” rating to a “b-” rating in a research report on Wednesday, November 30th. JPMorgan Chase & Co. upped 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. StockNews.com assumed coverage on Veradigm in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Piper Sandler reiterated an “overweight” rating and set a $17.00 price objective on shares of Veradigm in a research report on Friday, November 4th. Finally, Argus upgraded Veradigm from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, December 7th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Veradigm presently has an average rating of “Moderate Buy” and an average price target of $22.67.

Insider Buying and Selling

In related news, SVP Tejal Vakharia sold 8,642 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 222,604 shares of the company’s stock, valued at $4,100,365.68. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Tejal Vakharia sold 8,642 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 222,604 shares of the company’s stock, valued at $4,100,365.68. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director David B. Stevens sold 43,134 shares of the stock in a transaction that occurred on Tuesday, December 6th. The shares were sold at an average price of $18.47, for a total value of $796,684.98. Following the transaction, the director now directly owns 32,384 shares of the company’s stock, valued at $598,132.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,776 shares of company stock worth $1,137,271. 2.29% of the stock is owned by corporate insiders.

Veradigm Stock Performance

NASDAQ:MDRX opened at $18.50 on Monday. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.17. Veradigm Inc. has a 12-month low of $13.59 and a 12-month high of $23.25. The stock has a 50-day moving average price of $18.26 and a 200 day moving average price of $16.71. The stock has a market capitalization of $2.02 billion, a P/E ratio of 43.02, a P/E/G ratio of 1.54 and a beta of 1.01.

Veradigm (NASDAQ:MDRXGet Rating) last released its earnings results 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 quarter last year, the business posted $0.21 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. Equities research analysts forecast that Veradigm Inc. will post 0.68 EPS for the current fiscal year.

Veradigm 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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Institutional Ownership by Quarter for Veradigm (NASDAQ:MDRX)

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