OptimizeRx (NASDAQ:OPRX) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of OptimizeRx (NASDAQ:OPRX) from a strong-buy rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Citizens Jmp boosted their price objective on shares of OptimizeRx from $23.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Friday, November 7th. UBS Group set a $23.00 target price on shares of OptimizeRx in a report on Friday, October 10th. Stephens cut their price target on OptimizeRx from $20.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Monday, November 17th. Wall Street Zen raised OptimizeRx from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Finally, Citigroup reissued an “outperform” rating on shares of OptimizeRx in a report on Friday, October 10th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.88.

OptimizeRx Trading Up 2.7%

NASDAQ OPRX opened at $13.11 on Monday. The firm has a market capitalization of $244.37 million, a PE ratio of 31.92 and a beta of 1.10. The stock’s 50 day moving average is $16.74 and its 200 day moving average is $15.95. OptimizeRx has a twelve month low of $3.99 and a twelve month high of $22.25. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 0.20.

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

Insider Transactions at OptimizeRx

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of OPRX. Los Angeles Capital Management LLC purchased a new stake in shares of OptimizeRx during the second quarter valued at $349,000. Rhumbline Advisers raised its position in OptimizeRx by 10.5% in the 1st quarter. Rhumbline Advisers now owns 27,785 shares of the company’s stock worth $241,000 after buying an additional 2,636 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of OptimizeRx during the 2nd quarter valued at about $418,000. P.A.W. Capital Corp purchased a new stake in shares of OptimizeRx during the 2nd quarter valued at about $675,000. Finally, Parkman Healthcare Partners LLC bought a new stake in shares of OptimizeRx in the first quarter worth approximately $4,114,000. Hedge funds and other institutional investors 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.