Morgan Stanley Cuts Definitive Healthcare (NASDAQ:DH) Price Target to $9.50

Definitive Healthcare (NASDAQ:DH) had its price target trimmed by Morgan Stanley from $15.50 to $9.50 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages also recently issued reports on DH. Robert W. Baird downgraded shares of Definitive Healthcare from an outperform rating to a neutral rating and set a $13.00 price objective on the stock. in a research note on Monday, July 24th. Bank of America cut their target price on shares of Definitive Healthcare from $12.00 to $10.50 and set a neutral rating for the company in a research note on Tuesday, August 15th. The Goldman Sachs Group cut their target price on shares of Definitive Healthcare from $17.00 to $10.50 and set a neutral rating for the company in a research note on Wednesday, August 16th. Needham & Company LLC reiterated a buy rating and set a $15.00 target price on shares of Definitive Healthcare in a research report on Tuesday, August 15th. Finally, Canaccord Genuity Group reduced their target price on shares of Definitive Healthcare from $13.00 to $12.00 and set a buy rating on the stock in a research report on Tuesday, August 15th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Definitive Healthcare has a consensus rating of Moderate Buy and an average price target of $11.94.

Definitive Healthcare Stock Up 3.0 %

DH opened at $7.49 on Friday. The company has a market capitalization of $848.61 million, a PE ratio of -4.62, a price-to-earnings-growth ratio of 8.14 and a beta of 0.84. The business has a 50-day moving average of $7.64 and a 200-day moving average of $9.51. Definitive Healthcare has a fifty-two week low of $5.53 and a fifty-two week high of $14.03. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.84 and a quick ratio of 2.84.

Definitive Healthcare (NASDAQ:DH) last posted its quarterly earnings data on Monday, August 14th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. The business had revenue of $60.96 million during the quarter, compared to the consensus estimate of $61.00 million. Definitive Healthcare had a negative net margin of 5.31% and a positive return on equity of 0.29%. Definitive Healthcare’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) EPS. Equities research analysts forecast that Definitive Healthcare will post 0.03 EPS for the current fiscal year.

Insider Activity

In related news, Director Sea Vii Management, Llc sold 6,656 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $9.39, for a total transaction of $62,499.84. Following the completion of the transaction, the director now owns 1,441,657 shares in the company, valued at $13,537,159.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 15.27% of the company’s stock.

Institutional Trading of Definitive Healthcare

A number of large investors have recently made changes to their positions in the company. Rhumbline Advisers increased its position in shares of Definitive Healthcare by 3.3% in the 1st quarter. Rhumbline Advisers now owns 32,786 shares of the company’s stock valued at $339,000 after buying an additional 1,055 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Definitive Healthcare by 6.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 17,546 shares of the company’s stock worth $193,000 after acquiring an additional 1,116 shares during the period. Osaic Holdings Inc. raised its holdings in shares of Definitive Healthcare by 4.1% during the second quarter. Osaic Holdings Inc. now owns 28,707 shares of the company’s stock worth $316,000 after acquiring an additional 1,119 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Definitive Healthcare by 34.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,092 shares of the company’s stock worth $56,000 after acquiring an additional 1,309 shares during the period. Finally, HighTower Advisors LLC raised its holdings in shares of Definitive Healthcare by 11.3% during the first quarter. HighTower Advisors LLC now owns 13,251 shares of the company’s stock worth $109,000 after acquiring an additional 1,341 shares during the period.

About Definitive Healthcare

Definitive Healthcare Corp., together with its subsidiaries, provides software as a service (SaaS) healthcare commercial intelligence platform in the United States. Its SaaS platform provides information on healthcare providers and their activities to help its customers from product development to go-to-market planning, and sales and marketing execution.