The Vanguard Group, Inc. recently announced the acquisition of new stake in Veradigm Inc. (NASDAQ:MDRX). The institutional investor has increased its shareholding in the Healthcare company by 0.02% to 13.37 million shares with purchase of 3242.0 shares. This fresh investment now brings its stake to 12.23% valued currently at $166.94 million. In addition, D. E. Shaw & Co. LP raised its holdings by 0.45 million to 3.54 million shares. And William Blair Investment Manageme has lifted its position by 77.69% or 1.5 million shares – to 3.42 million shares.
With over 1.5 million Veradigm Inc. (MDRX) shares trading Tuesday and a closing price of $12.27 on the day, the dollar volume was approximately $18.39 million. The shares have shown a negative half year performance of -32.28% and its price on 05/23/23 gained nearly 0.41%. Currently, there are 110.21M common shares owned by the public and among those 106.64M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 11 analysts who have offered their price forecasts for MDRX have a consensus price objective of $18.56. The analysts have set the share’s price value over the next 12 months at a high of $26.00 and a low of $13.00. The average price target is 35.25% above its recent price level and an upside to the estimated low will see the stock gain 5.62% over that period. But an upside of 52.81% will see the stock hit the forecast high price target while median target price for the stock is $18.50.
Insiders at the company have transacted a total of 44 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 7 of these insider trades were purchases, accounting for 440,386 shares. Insider sales of the common stock occurred on 37 occasions, with total insider shares sold totaling 747,389 shares.
The top 3 mutual fund holders in Veradigm Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. iShares Core S&P Small Cap ETF owns 7.91 million shares of the company’s stock, all valued at over $98.82 million. The company sold 11679.0 shares recently to bring their total holdings to about 7.24% of the shares outstanding. Vanguard Total Stock Market ETF bought 61529.0 shares to see its total holdings expand to 3.23 million shares valued at over $40.38 million and representing 2.96% of the shares outstanding. Vanguard Small Cap Index Fund bought 17353.0 shares to bring its total holdings to over 2.72 million shares at a value of $33.97 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.49% of the shares outstanding.
Shares of Veradigm Inc. (NASDAQ: MDRX) opened at $12.16, down -$0.06 from a prior closing price of $12.22. However, the script later moved the day high at 12.66, up 0.41%. The company’s stock has a 5-day price change of 3.90% and -28.16% over the past three months. MDRX shares are trading -30.44% year to date (YTD), with the 12-month market performance down to -26.66% lower. It has a 12-month low price of $11.57 and touched a high of $19.77 over the same period. MDRX has an average intraday trading volume of 1.14 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.35%, -2.54%, and -22.48% respectively.
Institutional ownership of Veradigm Inc. (NASDAQ: MDRX) shares accounts for 105.81% of the company’s 110.21M shares outstanding. Mutual fund holders own 60.19%, while other institutional holders and individual stakeholders account for 89.78% and 42.20% respectively.
It has a market capitalization of $1.32B and a beta (3y monthly) value of 0.94. The stock’s trailing 12-month PE ratio is 13.04, while the earnings-per-share (ttm) stands at $0.94. The company has a PEG of 1.63 and a Quick Ratio of 3.20 with the debt-to-equity ratio at 0.17. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.13% over the week and 3.15% over the month.
Analysts forecast that Veradigm Inc. (MDRX) will achieve an EPS of $0.27 for the current quarter, $0.18 for the next quarter and $0.88 for 2023. The lowest estimate earnings-per-share for the quarter is $0.22 while analysts give the company a high EPS estimate of $0.34. Comparatively, EPS for the current quarter was $0.79 a year ago. Earnings per share for the fiscal year are expected to increase by 216.00%, and 8.60% over the next financial year. EPS should shrink at an annualized rate of 8.00% over the next five years, compared to 42.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 brokerage firm advisors rate Veradigm Inc. (MDRX) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 5 of the 11 advise that investors “hold,” and 1 rated it as a “Sell.”
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