Veradigm Inc. (NASDAQ:MDRX) Receives Average Recommendation of “Hold” from Brokerages

Shares of Veradigm Inc. (NASDAQ:MDRX) have received an average recommendation of “Hold” from the five ratings firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $12.00.

Separately, StockNews.com began coverage on Veradigm in a report on Tuesday. They set a “hold” rating on the stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MDRX. Wellington Management Group LLP boosted its position in Veradigm by 117.8% during the 4th quarter. Wellington Management Group LLP now owns 5,806,297 shares of the software maker’s stock valued at $60,908,000 after purchasing an additional 3,140,483 shares during the period. Tyro Capital Management LLC acquired a new position in Veradigm during the 1st quarter valued at approximately $9,055,000. Allianz Asset Management GmbH boosted its position in Veradigm by 41.2% during the 4th quarter. Allianz Asset Management GmbH now owns 343,433 shares of the software maker’s stock valued at $3,603,000 after purchasing an additional 100,275 shares during the period. Goldman Sachs Group Inc. boosted its position in Veradigm by 6.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,596,684 shares of the software maker’s stock valued at $16,749,000 after purchasing an additional 99,528 shares during the period. Finally, Vanguard Group Inc. boosted its position in Veradigm by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 14,275,875 shares of the software maker’s stock valued at $149,754,000 after purchasing an additional 95,291 shares during the period.

Veradigm Stock Performance

MDRX stock opened at $9.50 on Friday. Veradigm has a 52-week low of $5.01 and a 52-week high of $14.09. The stock’s 50 day moving average is $9.60 and its two-hundred day moving average is $9.01.

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.