Macquarie Group Ltd. Buys 10,991 Shares of Veradigm Inc. (NASDAQ:MDRX)

Posted by Defense World Staff on Mar 10th, 2023

Macquarie Group Ltd. raised its stake in shares of Veradigm Inc. (NASDAQ:MDRX – Get Rating) by 7.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 166,167 shares of the software maker’s stock after acquiring an additional 10,991 shares during the quarter. Macquarie Group Ltd. owned approximately 0.15% of Veradigm worth $2,553,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Tudor Investment Corp Et Al lifted its holdings in shares of Veradigm by 98.4% during the third quarter. Tudor Investment Corp Et Al now owns 143,871 shares of the software maker’s stock valued at $2,191,000 after acquiring an additional 71,343 shares during the period. Ergoteles LLC raised its holdings in shares of Veradigm by 124.0% in the third quarter. Ergoteles LLC now owns 65,816 shares of the software maker’s stock valued at $1,002,000 after buying an additional 36,429 shares during the last quarter. AXA S.A. raised its holdings in shares of Veradigm by 66.5% in the third quarter. AXA S.A. now owns 327,850 shares of the software maker’s stock valued at $4,993,000 after buying an additional 130,900 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Veradigm by 62.6% in the third quarter. Envestnet Asset Management Inc. now owns 19,169 shares of the software maker’s stock valued at $292,000 after buying an additional 7,380 shares during the last quarter. Finally, Credit Suisse AG raised its holdings in shares of Veradigm by 1.1% in the third quarter. Credit Suisse AG now owns 165,449 shares of the software maker’s stock valued at $2,519,000 after buying an additional 1,724 shares during the last quarter. 99.76% of the stock is owned by institutional investors.

Veradigm Price Performance

Veradigm stock opened at $14.19 on Friday. The firm has a market capitalization of $1.55 billion, a P/E ratio of 33.00, a PEG ratio of 1.33 and a beta of 1.01. Veradigm Inc. has a 1 year low of $13.59 and a 1 year high of $23.25. The business has a 50-day moving average of $17.29 and a 200-day moving average of $16.93. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.17.

Insider Transactions at Veradigm

In other news, SVP Tejal Vakharia sold 8,642 shares of the business’s stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $18.42, for a total transaction of $159,185.64. Following the completion of the transaction, the senior vice president now directly owns 222,604 shares in the company, valued at approximately $4,100,365.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. TheStreet raised Veradigm from a “c+” rating to a “b-” rating in a report on Wednesday, November 30th. Piper Sandler cut Veradigm from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $17.00 to $18.50 in a report on Wednesday, February 1st. SVB Securities cut their price target on Veradigm from $24.00 to $17.00 in a report on Wednesday, March 1st. Argus raised Veradigm from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Wednesday, December 7th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. boosted their price objective on Veradigm from $19.00 to $20.00 and gave the stock an “underweight” rating in a report on Friday, November 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.90.

Veradigm 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.