OptimizeRx (NASDAQ:OPRX) Cut to “Buy” at Wall Street Zen

OptimizeRx (NASDAQ:OPRX) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

A number of other brokerages also recently weighed in on OPRX. Citigroup reaffirmed an “outperform” rating on shares of OptimizeRx in a research report on Friday, October 10th. Roth Capital reissued a “buy” rating on shares of OptimizeRx in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of OptimizeRx in a report on Monday. Stifel Nicolaus increased their price objective on OptimizeRx from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, August 8th. Finally, UBS Group set a $23.00 target price on OptimizeRx in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, OptimizeRx currently has a consensus rating of “Moderate Buy” and an average target price of $16.88.

OptimizeRx Price Performance

Shares of OPRX opened at $14.24 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.05 and a current ratio of 3.05. The company has a 50 day moving average price of $17.58 and a 200-day moving average price of $15.84. OptimizeRx has a fifty-two week low of $3.99 and a fifty-two week high of $22.25. The stock has a market capitalization of $265.43 million, a PE ratio of 36.62 and a beta of 1.10.

OptimizeRx (NASDAQ:OPRX) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.17. The company had revenue of $26.07 million for the quarter, compared to analyst estimates of $23.83 million. OptimizeRx had a net margin of 0.03% and a return on equity of 6.37%. Equities analysts predict that OptimizeRx will post -0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Stephen L. Silvestro sold 1,620 shares of the stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $18.75, for a total value of $30,375.00. Following the transaction, the chief executive officer directly owned 188,916 shares of the company’s stock, valued at approximately $3,542,175. This represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On OptimizeRx

Several hedge funds and other institutional investors have recently bought and sold shares of OPRX. Charles Schwab Investment Management Inc. lifted its stake in OptimizeRx by 30.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 54,228 shares of the company’s stock valued at $470,000 after acquiring an additional 12,676 shares during the period. Invesco Ltd. acquired a new position in OptimizeRx during the first quarter valued at $2,542,000. Virtu Financial LLC purchased a new stake in OptimizeRx in the first quarter valued at $112,000. Nuveen LLC acquired a new stake in OptimizeRx during the 1st quarter worth about $455,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of OptimizeRx by 25,355.6% in the 1st quarter. Russell Investments Group Ltd. now owns 45,820 shares of the company’s stock valued at $397,000 after buying an additional 45,640 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

About OptimizeRx

OptimizeRx Corporation, a digital health technology company, enables care-focused engagement between life sciences organizations, healthcare providers, and patients at critical junctures throughout the patient care journey. It offers various tech-enabled marketing solutions through its Artificial Intelligence-generated Dynamic Audience and Activation Platform, which enables customers to execute traditional marketing campaigns on its proprietary digital point-of-care network, as well as dynamic marketing campaigns that optimize audiences in real time to increase the value of treatment information for healthcare professionals and patients in response to clinical care events.