Veradigm (NASDAQ:MDRX) Stock Price Down 3.7%

Veradigm Inc. (NASDAQ:MDRX)’s share price dropped 3.7% during mid-day trading on Friday . The company traded as low as $12.27 and last traded at $12.27. Approximately 108,574 shares changed hands during trading, a decline of 89% from the average daily volume of 1,006,152 shares. The stock had previously closed at $12.74.

Analyst Upgrades and Downgrades

MDRX has been the topic of a number of recent research reports. StockNews.com assumed coverage on shares of Veradigm in a research note on Monday, September 4th. They set a “hold” rating on the stock. Argus downgraded shares of Veradigm from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Veradigm from $21.00 to $18.00 in a research note on Friday, June 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Veradigm presently has a consensus rating of “Hold” and an average target price of $19.36.

Veradigm Price Performance

The stock’s fifty day moving average price is $13.22 and its 200 day moving average price is $12.92. The stock has a market capitalization of $1.33 billion, a P/E ratio of 28.35 and a beta of 0.93.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MDRX. Point72 Asset Management L.P. grew its holdings in shares of Veradigm by 13,306.2% in the second quarter. Point72 Asset Management L.P. now owns 1,958,639 shares of the software maker’s stock worth $24,679,000 after purchasing an additional 1,944,029 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of Veradigm by 77.7% in the first quarter. William Blair Investment Management LLC now owns 3,423,731 shares of the software maker’s stock worth $44,680,000 after purchasing an additional 1,496,937 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in shares of Veradigm in the first quarter worth about $19,088,000. Kent Lake Capital LLC bought a new position in Veradigm during the 2nd quarter worth about $10,344,000. Finally, Boone Capital Management LLC bought a new position in Veradigm during the 4th quarter worth about $10,584,000.

Veradigm Company Profile

Veradigm Inc, a healthcare technology company, 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.