Veradigm Inc. (NASDAQ: MDRX) stock jumped 7.04% on Monday to $13.07 against a previous-day closing price of $12.21. With 1.69 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.86 million shares. During the session, the Health Information Services company that operates in wider Healthcare sector, reached to the highest price of $13.35 whereas the lowest price it dropped to was $11.81. The 52-week range on MDRX shows that it touched its highest point at $19.77 and its lowest point at $11.30 during that stretch. It currently has a 1-year price target of $18.00. Beta for the stock currently stands at 0.94.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MDRX was up-trending over the past week, with a rise of 2.19%, but this was down by -0.53% over a month. Three-month performance surged to 12.38% while six-month performance fell -0.38%. The stock lost -21.60% in the past year, while it has lost -25.91% so far this year. A look at the trailing 12-month EPS for MDRX yields 0.94 with Next year EPS estimates of 0.86. For the next quarter, that number is 0.27. This implies an EPS growth rate of 216.00% for this year and 4.90% for next year. EPS is expected to grow by 8.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 42.10%.
Float and Shares Shorts:
At present, 110.21 million MDRX shares are outstanding with a float of 106.56 million shares on hand for trading. On Aug 30, 2023, short shares totaled 8.32 million, which was 7.62% higher than short shares on Jul 30, 2023. In addition to Mr. Richard J. Poulton as the firm’s CEO & Director, Ms. Tejal Vakharia serves as its Sr. VP of Marketing & Gov. Affairs, Gen. Counsel and Chief Compliance Counsel.
Institutional Ownership:
Through their ownership of 105.51% of MDRX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 89.96% of MDRX, in contrast to 58.97% held by mutual funds. Shares owned by individuals account for 44.07%. As the largest shareholder in MDRX with 15.46% of the stake, BlackRock Fund Advisors holds 16,894,830 shares worth 16,894,830. A second-largest stockholder of MDRX, The Vanguard Group, Inc., holds 14,015,941 shares, controlling over 12.83% of the firm’s shares. Dimensional Fund Advisors LP is the third largest shareholder in MDRX, holding 9,035,018 shares or 8.27% stake. With a 7.07% stake in MDRX, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 7,727,976 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.97% of MDRX stock, is the second-largest Mutual Fund holder. It holds 3,246,839 shares valued at 43.44 million. Vanguard Small Cap Index Fund holds 2.48% of the stake in MDRX, owning 2,704,697 shares worth 36.19 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Sep 29, 2022, MDRX reported revenue of $150.90M and operating income of -$5.40M. The EBITDA in the recently reported quarter was $10.80M and diluted EPS was -$0.56.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MDRX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MDRX analysts setting a high price target of $26.00 and a low target of $13.00, the average target price over the next 12 months is $17.50. Based on these targets, MDRX could surge 98.93% to reach the target high and fall by -0.54% to reach the target low. Reaching the average price target will result in a growth of 33.89% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded MDRX stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 366,302 shares were bought while 162,271 shares were sold. The number of buy transactions has increased to 3 while that of sell transactions has risen to 29 over the past year. The total number of shares bought during that period was 742,908 while 567,361 shares were sold.
