Definitive Healthcare (NASDAQ:DH) Sets New 12-Month Low After Analyst Downgrade

Definitive Healthcare Corp. (NASDAQ:DH) shares reached a new 52-week low during mid-day trading on Wednesday after Canaccord Genuity Group lowered their price target on the stock from $10.00 to $8.00. Canaccord Genuity Group currently has a hold rating on the stock. Definitive Healthcare traded as low as $4.38 and last traded at $4.89, with a volume of 1416771 shares trading hands. The stock had previously closed at $7.25.

Other equities analysts have also issued research reports about the company. Stifel Nicolaus lowered their target price on Definitive Healthcare from $11.00 to $9.50 and set a “buy” rating on the stock in a research note on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Definitive Healthcare in a research note on Wednesday. Barclays raised their price objective on Definitive Healthcare from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. Finally, Morgan Stanley lowered Definitive Healthcare from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $11.50 to $9.00 in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.81.

Institutional Investors Weigh In On Definitive Healthcare

Several hedge funds have recently modified their holdings of DH. Bank of New York Mellon Corp lifted its holdings in Definitive Healthcare by 11.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,090,136 shares of the company’s stock worth $8,710,000 after buying an additional 113,963 shares during the period. Vanguard Group Inc. lifted its stake in shares of Definitive Healthcare by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,331,543 shares of the company’s stock valued at $34,609,000 after purchasing an additional 254,726 shares during the period. Eagle Asset Management Inc. increased its position in Definitive Healthcare by 7.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 784,230 shares of the company’s stock valued at $6,266,000 after buying an additional 54,590 shares in the last quarter. Raymond James & Associates increased its position in Definitive Healthcare by 24.2% in the 3rd quarter. Raymond James & Associates now owns 650,327 shares of the company’s stock valued at $5,196,000 after buying an additional 126,613 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Definitive Healthcare by 68.4% in the 3rd quarter. Victory Capital Management Inc. now owns 269,433 shares of the company’s stock valued at $2,153,000 after buying an additional 109,463 shares in the last quarter. Institutional investors and hedge funds own 98.67% of the company’s stock.

Definitive Healthcare Price Performance

The firm has a market capitalization of $630.18 million, a P/E ratio of -3.01, a price-to-earnings-growth ratio of 6.12 and a beta of 1.41. The business has a 50-day moving average of $7.70 and a 200 day moving average of $8.29. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.20.

Definitive Healthcare (NASDAQ:DH) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The company had revenue of $65.93 million for the quarter, compared to the consensus estimate of $66.01 million. Definitive Healthcare had a positive return on equity of 0.43% and a negative net margin of 80.40%. On average, sell-side analysts predict that Definitive Healthcare Corp. will post 0.11 earnings per share for the current fiscal year.

Definitive Healthcare Company Profile

Definitive Healthcare Corp., together with its subsidiaries, provides software as a service (SaaS) healthcare commercial intelligence platform in the United States and internationally. 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.