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

OptimizeRx (NASDAQ:OPRX) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the stock. Citizens Jmp boosted their price objective on shares of OptimizeRx from $23.00 to $24.00 and gave the company a “market outperform” rating in a research report on Friday, November 7th. Citigroup reaffirmed an “outperform” rating on shares of OptimizeRx in a research note on Friday, October 10th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of OptimizeRx in a research note on Monday. UBS Group set a $23.00 price objective on shares of OptimizeRx in a report on Friday, October 10th. Finally, Stephens dropped their target price on OptimizeRx from $20.00 to $17.00 and set an “equal weight” rating on the stock in a report on Monday, November 17th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, OptimizeRx has a consensus rating of “Moderate Buy” and an average price target of $16.88.

OptimizeRx Trading Up 6.7%

Shares of OPRX stock traded up $0.86 on Monday, hitting $13.63. 71,212 shares of the company’s stock traded hands, compared to its average volume of 357,924. 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 stock has a market capitalization of $253.97 million, a price-to-earnings ratio of 32.95 and a beta of 1.10. The company’s fifty day simple moving average is $16.84 and its 200 day simple moving average is $15.97. OptimizeRx has a one year low of $3.99 and a one year high of $22.25.

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

Insider Activity at OptimizeRx

In related news, CEO Stephen L. Silvestro sold 1,620 shares of the company’s 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 completion of the sale, the chief executive officer owned 188,916 shares in the company, valued at approximately $3,542,175. This represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.60% of the stock is owned by insiders.

Institutional Investors Weigh In On OptimizeRx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in OptimizeRx by 30.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 54,228 shares of the company’s stock worth $470,000 after purchasing an additional 12,676 shares in the last quarter. Invesco Ltd. purchased a new position in shares of OptimizeRx in the first quarter valued at $2,542,000. Nuveen LLC bought a new stake in OptimizeRx in the first quarter worth $455,000. Russell Investments Group Ltd. increased 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 worth $397,000 after buying an additional 45,640 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of OptimizeRx by 9.6% during the 1st quarter. American Century Companies Inc. now owns 15,783 shares of the company’s stock valued at $137,000 after buying an additional 1,387 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

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.