abrdn plc Invests $4.50 Million in Veradigm Inc. (NASDAQ:MDRX)

abrdn plc acquired a new position in Veradigm Inc. (NASDAQ:MDRX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 428,580 shares of the software maker’s stock, valued at approximately $4,496,000. abrdn plc owned approximately 0.39% of Veradigm at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. William Blair Investment Management LLC increased its stake in shares of Veradigm by 16.6% in the 3rd quarter. William Blair Investment Management LLC now owns 4,375,005 shares of the software maker’s stock worth $57,488,000 after purchasing an additional 623,438 shares in the last quarter. Wellington Management Group LLP increased its stake in Veradigm by 92.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,665,814 shares of the software maker’s stock worth $35,029,000 after buying an additional 1,281,319 shares in the last quarter. Pacer Advisors Inc. increased its stake in Veradigm by 108.1% in the 4th quarter. Pacer Advisors Inc. now owns 2,516,574 shares of the software maker’s stock worth $26,399,000 after buying an additional 1,307,024 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in Veradigm by 7.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,401,754 shares of the software maker’s stock worth $31,559,000 after buying an additional 165,642 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Veradigm by 12.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,916,406 shares of the software maker’s stock worth $25,182,000 after buying an additional 210,137 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MDRX shares. Barclays started coverage on Veradigm in a research note on Wednesday, January 3rd. They issued an “equal weight” rating and a $11.00 price target for the company. 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 research note on Friday, January 19th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $10.00 price target (down previously from $15.00) on shares of Veradigm in a research note on Tuesday, March 19th. Finally, StockNews.com started coverage on shares of Veradigm in a report on Tuesday, April 23rd. They set a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.25.

Veradigm Price Performance

MDRX opened at $7.96 on Friday. The firm has a 50-day simple moving average of $7.75 and a two-hundred day simple moving average of $9.89. Veradigm Inc. has a 52 week low of $5.01 and a 52 week high of $14.09.

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.