Veradigm (NASDAQ:MDRX) Stock Price Down 3.8%

Veradigm Inc. (NASDAQ:MDRX - Get Free Report) dropped 3.8% on Wednesday . The stock traded as low as $7.70 and last traded at $7.70. Approximately 1,073 shares were traded during trading, a decline of 100% from the average daily volume of 4,602,592 shares. The stock had previously closed at $8.00.

Wall Street Analysts Forecast Growth

MDRX has been the topic of several recent analyst reports. Barclays started coverage on Veradigm in a report on Wednesday, January 3rd. They issued an "equal weight" rating and a $11.00 target price on the stock. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $10.00 target price (down previously from $15.00) on shares of Veradigm in a report on Tuesday, March 19th. Royal Bank of Canada cut their price target on Veradigm from $22.00 to $11.00 and set an "outperform" rating for the company in a report on Friday, January 19th. Finally, StockNews.com started coverage on shares of Veradigm in a report on Saturday. They set a "hold" rating on the stock. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Veradigm has an average rating of "Hold" and a consensus price target of $11.25.

Veradigm Price Performance

The company has a 50 day moving average price of $8.10 and a 200 day moving average price of $10.53.

Hedge Funds Weigh In On Veradigm

Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew 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 worth $60,908,000 after acquiring an additional 3,140,483 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Veradigm by 13,306.2% during the second quarter. Point72 Asset Management L.P. now owns 1,958,639 shares of the software maker's stock worth $24,679,000 after purchasing an additional 1,944,029 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of Veradigm during the first quarter worth $19,088,000. Newtyn Management LLC bought a new stake in Veradigm in the fourth quarter valued at about $15,333,000. Finally, Pacer Advisors Inc. lifted its stake in Veradigm by 108.1% in the fourth quarter. Pacer Advisors Inc. now owns 2,516,574 shares of the software maker's stock valued at $26,399,000 after buying an additional 1,307,024 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.