Summit Creek Advisors LLC Purchases Shares of 217,193 OptimizeRx Co. (NASDAQ:OPRX)

Summit Creek Advisors LLC acquired a new stake in shares of OptimizeRx Co. (NASDAQ:OPRXGet Rating) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 217,193 shares of the company’s stock, valued at approximately $8,190,000. Summit Creek Advisors LLC owned 1.20% of OptimizeRx as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in OPRX. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of OptimizeRx during the fourth quarter valued at approximately $26,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of OptimizeRx by 43.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,180 shares of the company’s stock valued at $135,000 after purchasing an additional 658 shares during the period. Mutual of America Capital Management LLC purchased a new stake in shares of OptimizeRx during the fourth quarter valued at approximately $151,000. Ensign Peak Advisors Inc purchased a new stake in shares of OptimizeRx during the fourth quarter valued at approximately $217,000. Finally, ProShare Advisors LLC purchased a new stake in shares of OptimizeRx during the fourth quarter valued at approximately $269,000. Hedge funds and other institutional investors own 83.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OPRX. Piper Sandler began coverage on shares of OptimizeRx in a research note on Friday, July 1st. They issued a “neutral” rating and a $29.00 price target for the company. Royal Bank of Canada dropped their price target on shares of OptimizeRx from $100.00 to $50.00 in a research note on Thursday, May 5th. B. Riley lowered their target price on shares of OptimizeRx from $71.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, July 20th. SVB Leerink started coverage on shares of OptimizeRx in a research note on Friday, July 15th. They set an “outperform” rating and a $38.00 target price for the company. Finally, Roth Capital lowered their target price on shares of OptimizeRx from $112.00 to $66.00 in a research note on Thursday, May 5th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, OptimizeRx presently has an average rating of “Moderate Buy” and an average price target of $52.50.

OptimizeRx Stock Performance

Shares of OPRX opened at $24.23 on Friday. OptimizeRx Co. has a 1 year low of $20.10 and a 1 year high of $99.18. The company has a market cap of $439.77 million, a price-to-earnings ratio of -151.44 and a beta of 0.70. The firm has a fifty day moving average of $26.53 and a 200-day moving average of $33.62.

OptimizeRx (NASDAQ:OPRXGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.10). OptimizeRx had a negative net margin of 4.30% and a negative return on equity of 1.76%. The firm had revenue of $13.73 million for the quarter, compared to analyst estimates of $13.78 million. During the same period last year, the firm posted ($0.01) EPS. Analysts predict that OptimizeRx Co. will post -0.02 EPS for the current year.

OptimizeRx Company Profile

(Get Rating)

OptimizeRx Corporation, a digital health technology company, provides various solutions to life sciences organizations, healthcare providers, and patients. The company's products and applications include financial messaging, a virtual patient support center that allows doctors and staff to access sample vouchers, co-pay coupons, and other patient support through their EMR and/or e-prescribe systems; and brand awareness and therapeutic support messaging services, such as brand awareness messages, reminder ads, and therapeutic support and unbranded messages.

See Also

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Institutional Ownership by Quarter for OptimizeRx (NASDAQ:OPRX)

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