Veradigm (NASDAQ:MDRX) Shares Gap Down to $9.98

Veradigm Inc. (NASDAQ:MDRX) shares gapped down prior to trading on Thursday . The stock had previously closed at $9.98, but opened at $9.66. Veradigm shares last traded at $9.85, with a volume of 13,330 shares.

Analyst Ratings Changes

MDRX has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $10.00 target price (down previously from $15.00) on shares of Veradigm in a research report on Tuesday, March 19th. TD Cowen cut their price target on Veradigm from $26.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, May 28th. Finally, StockNews.com initiated coverage on Veradigm in a research note on Thursday, July 4th. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Veradigm presently has an average rating of “Hold” and an average target price of $12.00.

Veradigm Stock Down 1.3 %

The stock’s 50 day simple moving average is $8.84 and its 200 day simple moving average is $8.62.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings 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. Pacer Advisors Inc. raised its holdings in shares of Veradigm by 108.1% during the fourth quarter. Pacer Advisors Inc. now owns 2,516,574 shares of the software maker’s stock valued at $26,399,000 after acquiring an additional 1,307,024 shares in the last quarter. Tyro Capital Management LLC purchased a new stake in Veradigm in the first quarter worth $9,055,000. Kent Lake Capital LLC boosted its holdings in Veradigm by 62.2% in the fourth quarter. Kent Lake Capital LLC now owns 1,500,000 shares of the software maker’s stock valued at $15,735,000 after acquiring an additional 575,000 shares in the last quarter. Finally, Creative Planning increased its position in Veradigm by 2,848.4% during the 3rd quarter. Creative Planning now owns 474,376 shares of the software maker’s stock valued at $6,233,000 after purchasing an additional 458,287 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.