Veradigm (NASDAQ:MDRX) Trading Down 3.7%

Shares of Veradigm Inc. (NASDAQ:MDRX) dropped 3.7% on Friday . The stock traded as low as $12.27 and last traded at $12.27. Approximately 108,574 shares were traded during mid-day 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 several recent research reports. Deutsche Bank Aktiengesellschaft reduced their price target on Veradigm from $21.00 to $18.00 in a research note on Friday, June 30th. Argus cut Veradigm from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, StockNews.com initiated coverage on Veradigm in a research note on Monday. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Veradigm presently has a consensus rating of “Hold” and a consensus price target of $19.36.

Veradigm Price Performance

The stock has a market capitalization of $1.33 billion, a PE ratio of 29.51 and a beta of 0.93. The business has a 50 day moving average price of $13.23 and a 200 day moving average price of $12.99.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MDRX. Vanguard Group Inc. raised its stake in Veradigm by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 13,852,474 shares of the software maker’s stock valued at $311,957,000 after purchasing an additional 584,339 shares during the period. State Street Corp raised its stake in Veradigm by 3.2% during the 1st quarter. State Street Corp now owns 4,448,241 shares of the software maker’s stock valued at $100,174,000 after purchasing an additional 136,905 shares during the period. William Blair Investment Management LLC raised its stake in Veradigm by 9.6% during the 2nd quarter. William Blair Investment Management LLC now owns 3,751,567 shares of the software maker’s stock valued at $47,270,000 after purchasing an additional 327,836 shares during the period. Geode Capital Management LLC raised its stake in Veradigm by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 2,254,299 shares of the software maker’s stock valued at $28,404,000 after purchasing an additional 67,066 shares during the period. Finally, Point72 Asset Management L.P. raised its stake in Veradigm by 13,306.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,958,639 shares of the software maker’s stock valued at $24,679,000 after purchasing an additional 1,944,029 shares during the period.

About Veradigm

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.