Veradigm Takes Action with FY23 Outlook and Major Share Buyback Initiative

Veradigm Inc MDRX shares are trading higher Wednesday after the company announced a new share repurchase program under which Veradigm may purchase up to $250 million of its common stock.
The new share repurchase program does not have a termination date and replaces the previous authorization to repurchase $250 million of common stock, which was almost fully utilized in 2022.
In the fourth quarter of 2022, Veradigm repurchased $57 million of its common stock, bringing its full-year total to $234 million.
The company also introduced initial FY23 revenue guidance of $640 million and $660 million, compared to the consensus of $656.84 million.
Veradigm expects adjusted EPS of $0.90 and $1.00 versus the consensus of $0.95.
Last week, Allscripts Healthcare Solutions Inc changed its name to Veradigm Inc. Allscripts had been transitioning its solutions to the Veradigm brand during 2022.
Price Action: MDRX shares are up 3% at $18.35 on the last check Wednesday.

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