Healthcare of Ontario Pension Plan Trust Fund Reduces Stake in Veradigm Inc. (NASDAQ:MDRX)

Posted by Defense World Staff on Feb 26th, 2023

Healthcare of Ontario Pension Plan Trust Fund cut its holdings in shares of Veradigm Inc. (NASDAQ:MDRX – Get Rating) by 87.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 107,900 shares of the software maker’s stock after selling 755,700 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.10% of Veradigm worth $1,643,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Nordea Investment Management AB increased its position in Veradigm by 0.6% during the 3rd quarter. Nordea Investment Management AB now owns 181,307 shares of the software maker’s stock valued at $2,809,000 after purchasing an additional 1,162 shares during the period. Bank of Montreal Can increased its position in shares of Veradigm by 3.6% during the first quarter. Bank of Montreal Can now owns 34,210 shares of the software maker’s stock valued at $768,000 after buying an additional 1,198 shares during the period. Macquarie Group Ltd. raised its stake in Veradigm by 1.0% in the second quarter. Macquarie Group Ltd. now owns 155,176 shares of the software maker’s stock worth $2,301,000 after buying an additional 1,589 shares in the last quarter. Credit Suisse AG lifted its holdings in Veradigm by 1.1% in the third quarter. Credit Suisse AG now owns 165,449 shares of the software maker’s stock worth $2,519,000 after buying an additional 1,724 shares during the period. Finally, CWM LLC boosted its position in Veradigm by 578.4% during the 3rd quarter. CWM LLC now owns 2,103 shares of the software maker’s stock valued at $32,000 after acquiring an additional 1,793 shares in the last quarter. Institutional investors own 99.76% of the company’s stock.

Veradigm Stock Performance

Shares of MDRX stock opened at $16.85 on Friday. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 39.19, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.20 and a current ratio of 3.20. Veradigm Inc. has a one year low of $13.59 and a one year high of $23.25. The company’s 50-day moving average is $17.81 and its 200 day moving average is $17.08.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Piper Sandler lowered Veradigm from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $17.00 to $18.50 in a research report on Wednesday, February 1st. Argus upgraded shares of Veradigm from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Wednesday, December 7th. They noted that the move was a valuation call. TheStreet raised shares of Veradigm from a “c+” rating to a “b-” rating in a research report on Wednesday, November 30th. JPMorgan Chase & Co. lifted their price target on shares of Veradigm from $19.00 to $20.00 and gave the company an “underweight” rating in a research report on Friday, November 18th. Finally, The Goldman Sachs Group raised shares of Veradigm from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $22.00 to $23.00 in a research note on Tuesday, November 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Veradigm has a consensus rating of “Hold” and an average price target of $22.92.

Insider Transactions at Veradigm

In related news, SVP Tejal Vakharia sold 8,642 shares of the firm’s stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $18.42, for a total transaction of $159,185.64. Following the completion of the sale, the senior vice president now owns 222,604 shares of the company’s stock, valued at $4,100,365.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director David B. Stevens sold 43,134 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 32,384 shares of the company’s stock, valued at $598,132.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Tejal Vakharia sold 8,642 shares of the stock in a transaction on Monday, December 12th. The shares were sold at an average price of $18.42, for a total value of $159,185.64. Following the sale, the senior vice president now directly owns 222,604 shares in the company, valued at $4,100,365.68. The disclosure for this sale can be found here. Insiders own 2.29% of the company’s stock.

Veradigm Company Profile

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Veradigm, Inc engages in the provision of clinical, financial, and operational results services. It operates through the Provider and Veradigm segments. The Provider segment includes the hospitals and health systems, ambulatory, CarePort, FollowMyHealth, EPSiTM, EISClassics, and 2bPrecise strategic business units.