Cwm LLC Grows Position in Veradigm Inc. (NASDAQ:MDRX)

Cwm LLC increased its holdings in Veradigm Inc. (NASDAQ:MDRX – Get Rating) by 578.4% in the third quarter, Holdings Channel reports. The fund owned 2,103 shares of the software maker’s stock after purchasing an additional 1,793 shares during the quarter. Cwm LLC’s holdings in Veradigm were worth $32,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MDRX. Point72 Asset Management L.P. purchased a new stake in Veradigm in the second quarter worth about $18,578,000. Millennium Management LLC lifted its stake in Veradigm by 72.7% in the second quarter. Millennium Management LLC now owns 2,480,364 shares of the software maker’s stock worth $36,784,000 after acquiring an additional 1,044,236 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Veradigm during the second quarter valued at about $12,807,000. Vanguard Group Inc. lifted its position in shares of Veradigm by 4.4% during the first quarter. Vanguard Group Inc. now owns 13,852,474 shares of the software maker’s stock valued at $311,957,000 after buying an additional 584,339 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Veradigm during the first quarter valued at about $11,823,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Richard J. Poulton sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $18.14, for a total transaction of $181,400.00. Following the sale, the chief executive officer now owns 722,517 shares of the company’s stock, valued at approximately $13,106,458.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Richard J. Poulton sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $18.14, for a total transaction of $181,400.00. Following the sale, the chief executive officer now owns 722,517 shares of the company’s stock, valued at approximately $13,106,458.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David B. Stevens sold 43,134 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $598,132.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,776 shares of company stock worth $1,137,271. 2.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on MDRX shares. TheStreet raised shares of Veradigm from a “c+” rating to a “b-” rating in a research report on Wednesday, November 30th. The Goldman Sachs Group raised shares of 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 report on Tuesday, November 8th. StockNews.com started coverage on shares of Veradigm in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Piper Sandler reissued an “overweight” rating and set a $17.00 price target on shares of Veradigm in a research report on Friday, November 4th. Finally, Argus upgraded shares of Veradigm from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Wednesday, December 7th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.67.

Veradigm Stock Performance

MDRX opened at $18.50 on Friday. Veradigm Inc. has a 52-week low of $13.59 and a 52-week high of $23.25. The firm’s 50-day moving average price is $18.26 and its 200-day moving average price is $16.69. 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 company has a market cap of $2.02 billion, a P/E ratio of 43.02, a price-to-earnings-growth ratio of 1.60 and a beta of 1.01.

Veradigm (NASDAQ:MDRX – Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The software maker reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.05. Veradigm had a net margin of 7.25% and a return on equity of 10.74%. The company had revenue of $151.90 million for the quarter, compared to the consensus estimate of $152.79 million. During the same quarter in the prior year, the company earned $0.21 EPS. Veradigm’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities analysts anticipate that Veradigm Inc. will post 0.68 EPS for the current fiscal year.

Veradigm Company 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.