StockNews.com Begins Coverage on Veradigm (NASDAQ:MDRX)

StockNews.com began coverage on shares of Veradigm (NASDAQ:MDRX) in a report issued on Wednesday morning. The brokerage issued a hold rating on the software maker’s stock.

A number of other brokerages also recently issued reports on MDRX. Deutsche Bank Aktiengesellschaft reiterated a hold rating and issued a $10.00 price target (down from $15.00) on shares of Veradigm in a report on Tuesday, March 19th. Barclays assumed coverage on shares of Veradigm in a report on Wednesday, January 3rd. They issued an equal weight rating and a $11.00 price target on the stock. Finally, Royal Bank of Canada lowered their target price on Veradigm from $22.00 to $11.00 and set an outperform rating for the company in a research report on Friday, January 19th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $11.25.

Veradigm Stock Performance

Shares of NASDAQ:MDRX opened at $7.70 on Wednesday. The firm has a fifty day moving average price of $7.70 and a 200 day moving average price of $9.72. Veradigm has a fifty-two week low of $5.01 and a fifty-two week high of $14.09.

Institutional Investors Weigh In On Veradigm

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MDRX. Creative Planning increased its position in shares of Veradigm by 2,848.4% during the 3rd quarter. Creative Planning now owns 474,376 shares of the software maker’s stock valued at $6,233,000 after purchasing an additional 458,287 shares during the last quarter. Kent Lake Capital LLC lifted its holdings in shares of Veradigm by 62.2% in the 4th quarter. Kent Lake Capital LLC now owns 1,500,000 shares of the software maker’s stock worth $15,735,000 after acquiring an additional 575,000 shares during the last quarter. Burney Co. lifted its holdings in shares of Veradigm by 652.8% in the 3rd quarter. Burney Co. now owns 234,094 shares of the software maker’s stock worth $3,076,000 after acquiring an additional 202,999 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Veradigm by 108.1% during the 4th quarter. Pacer Advisors Inc. now owns 2,516,574 shares of the software maker’s stock worth $26,399,000 after purchasing an additional 1,307,024 shares during the period. Finally, Illinois Municipal Retirement Fund bought a new position in Veradigm during the 3rd quarter valued at about $825,000.

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.