Rhumbline Advisers Boosts Stake in OptimizeRx Co. (NASDAQ:OPRX)

Rhumbline Advisers raised its position in shares of OptimizeRx Co. (NASDAQ:OPRX) by 9.2% in the second quarter, Holdings Channel.com reports. The fund owned 31,462 shares of the company’s stock after buying an additional 2,658 shares during the quarter. Rhumbline Advisers’ holdings in OptimizeRx were worth $315,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. First Light Asset Management LLC boosted its position in shares of OptimizeRx by 0.6% in the first quarter. First Light Asset Management LLC now owns 1,737,584 shares of the company’s stock worth $21,112,000 after buying an additional 10,286 shares during the period. Vanguard Group Inc. boosted its position in shares of OptimizeRx by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,027,293 shares of the company’s stock worth $12,482,000 after buying an additional 6,291 shares during the period. AWM Investment Company Inc. boosted its position in shares of OptimizeRx by 4.0% in the first quarter. AWM Investment Company Inc. now owns 853,042 shares of the company’s stock worth $10,364,000 after buying an additional 33,000 shares during the period. Blair William & Co. IL boosted its position in shares of OptimizeRx by 5.6% in the first quarter. Blair William & Co. IL now owns 782,573 shares of the company’s stock worth $9,508,000 after buying an additional 41,469 shares during the period. Finally, G2 Investment Partners Management LLC boosted its position in shares of OptimizeRx by 26.0% in the fourth quarter. G2 Investment Partners Management LLC now owns 468,120 shares of the company’s stock worth $6,699,000 after buying an additional 96,646 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Ratings Changes

OPRX has been the topic of several recent analyst reports. B. Riley initiated coverage on OptimizeRx in a research note on Thursday, July 25th. They issued a “buy” rating and a $18.50 price target on the stock. JMP Securities restated a “market outperform” rating and set a $16.00 price objective on shares of OptimizeRx in a research note on Friday, June 21st. Barclays cut their price objective on OptimizeRx from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday, August 12th. Finally, Royal Bank of Canada cut their price objective on OptimizeRx from $17.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, August 16th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $14.50.

OptimizeRx Stock Up 2.9 %

NASDAQ:OPRX opened at $7.75 on Friday. The firm has a market capitalization of $141.59 million, a PE ratio of -7.60 and a beta of 1.27. The stock has a 50 day moving average of $8.56 and a 200-day moving average of $10.20. OptimizeRx Co. has a 52 week low of $6.92 and a 52 week high of $16.65. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.27.

OptimizeRx (NASDAQ:OPRX) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.11. OptimizeRx had a negative return on equity of 5.97% and a negative net margin of 21.53%. The business had revenue of $18.81 million during the quarter, compared to analyst estimates of $20.47 million. Analysts predict that OptimizeRx Co. will post -0.33 EPS for the current year.

OptimizeRx Company Profile

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.