Dimensional Fund Advisors LP has recently announced that it has increased stake in Veradigm Inc (NASDAQ:MDRX) by 0.51%. After grabbing 9.08 million shares, the institutional investor is now in possession of 45905.0 shares of the Healthcare Company. The new investment brought the stake of investor firm to 8.31% having worth around $104.25 million. Moreover, William Blair Investment Manageme increased its share by 0.62 million to have a control over 4.38 million shares. And SSgA Funds Management, Inc. raised its holdings to 40246.0 shares by acquiring 4.07 million shares or 3.73% of the stake.
Veradigm Inc (MDRX) concluded trading on 01/10/24 at a closing price of $9.43, with 5.18 million shares of worth about $48.85 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -26.61% during that period and on Wednesday the price saw a loss of about -12.36%. Currently the company’s common shares owned by public are about 109.26M shares, out of which, 107.47M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the MDRX stock and their offered price forecasts bring an average price target of $14.33. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $26.00 and could fall to a lowest price of $10.00. The stock’s current price level is 34.19% above of average price target set by the analysts, while a rise to estimated low would result in gain of 5.7% for the stock. However, touching the estimated high of $26.00 would mean a gain of 63.73% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 27 times over the past 12 months. They bought 742,908 shares in 3 of the transactions. In 24 selling transactions, insiders dumped 453,515 shares.
iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Veradigm Inc iShares Core S&P Small Cap ETF is currently holding 7.31 million shares of worth totaling $83.95 million. The company recently came buying 3888.0 shares which brought its stake up to 6.69% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 6454.0 shares, after which its hold over company’s outstanding shares expand to 3.00%, leaving 3.27 million shares with the mutual fund that have a worth of about $37.58 million. Vanguard Small Cap Index Fund, after buying 2.69 million shares, have now control over 2.46% of the stake in the company. It holds 8247.0 shares of worth $30.85 million.
Veradigm Inc (NASDAQ: MDRX) started trading at $10.33, below -$0.43 from concluding price of the previous day. However, the stock later moved at a day high price of 10.45, or with a loss of -12.36%. Stock saw a price change of -11.21% in past 5 days and over the past one month there was a price change of -6.36%. Year-to-date (YTD), MDRX shares are showing a performance of -10.10% which decreased to -47.32% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $9.34 but also hit the highest price of $19.77 during that period. The average intraday trading volume for Veradigm Inc shares is 1.32 million. The stock is currently trading -8.09% below its 20-day simple moving average (SMA20), while that difference is down -18.75% for SMA50 and it goes to -24.37% lower than SMA200.
Dimensional Fund Advisors LP acquired 9.08 million shares of Veradigm Inc having value of about $104.25 million. Data submitted at the U.S SEC by Dimensional Fund Advisors LP revealed that the firm now holds 45905.0 shares in the company valued at close to $432884.15, or have control over 0.51% stake in the company. Veradigm Inc (NASDAQ: MDRX) currently have 109.26M outstanding shares and institutions hold larger chunk of about 103.51% of that. Holding of mutual funds in the company is about 60.55% while other institutional holders and individual stake holders have control over 89.96% and 43.41% of the stake respectively.
The stock has a current market capitalization of $1.03B and its 3Y-monthly beta is at 0.70. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MDRX, volatility over the week remained 5.48% while standing at 4.31% over the month.
Analysts are in expectations that Veradigm Inc (MDRX) stock would likely to be making an EPS of $0.28 in the current quarter, while forecast for next quarter EPS is $0.3 and it is $0.89 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.23 which is $0.34 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.79 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -4.14% while it is estimated to increase by 0.98% in next year.
Analysts at 7 brokerage firms have issued recommendations for the Veradigm Inc (MDRX)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.43. Out of those 7 Wall Street analysts, 2 recommended a “Buy” rating, while 5 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Barclays on January 03, 2024 offering an Equal weight rating for the stock and assigned a target price of $11 to it.
