OptimizeRx (NASDAQ:OPRX) Shares Up 5.6%

OptimizeRx Co. (NASDAQ:OPRX) shot up 5.6% during mid-day trading on Tuesday . The company traded as high as $51.05 and last traded at $51.05. 3,349 shares traded hands during trading, a decline of 99% from the average session volume of 301,908 shares. The stock had previously closed at $48.35.

A number of brokerages have recently issued reports on OPRX. Roth Capital lifted their target price on OptimizeRx from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, March 3rd. B. Riley boosted their price objective on OptimizeRx from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 25th. Lake Street Capital boosted their price objective on OptimizeRx from $40.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 26th. Finally, Zacks Investment Research lowered OptimizeRx from a “buy” rating to a “hold” rating in a report on Friday, February 26th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. OptimizeRx presently has a consensus rating of “Buy” and a consensus price target of $62.50.

The company has a market capitalization of $812.28 million, a P/E ratio of -127.18 and a beta of 0.82. The company has a fifty day moving average price of $51.21 and a 200 day moving average price of $35.58.

OptimizeRx (NASDAQ:OPRX) last posted its earnings results on Tuesday, February 23rd. The company reported $0.16 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.16. OptimizeRx had a negative return on equity of 10.86% and a negative net margin of 16.20%. Sell-side analysts expect that OptimizeRx Co. will post -0.08 EPS for the current year.

In other news, CFO Douglas P. Baker sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 13th. The stock was sold at an average price of $38.89, for a total transaction of $194,450.00. Following the completion of the transaction, the chief financial officer now directly owns 85,937 shares in the company, valued at $3,342,089.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Douglas P. Baker sold 5,032 shares of the business’s stock in a transaction that occurred on Friday, January 29th. The stock was sold at an average price of $47.25, for a total value of $237,762.00. Following the transaction, the chief financial officer now owns 85,902 shares of the company’s stock, valued at $4,058,869.50. The disclosure for this sale can be found here. Insiders have sold 90,032 shares of company stock valued at $4,120,212 over the last ninety days. Corporate insiders own 8.10% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. boosted its position in shares of OptimizeRx by 22.5% during the fourth quarter. Russell Investments Group Ltd. now owns 51,002 shares of the company’s stock worth $1,588,000 after buying an additional 9,355 shares during the period. Calamos Advisors LLC boosted its position in shares of OptimizeRx by 69.6% during the fourth quarter. Calamos Advisors LLC now owns 67,278 shares of the company’s stock worth $2,096,000 after buying an additional 27,618 shares during the period. Handelsbanken Fonder AB boosted its position in shares of OptimizeRx by 56.4% during the fourth quarter. Handelsbanken Fonder AB now owns 610,000 shares of the company’s stock worth $19,008,000 after buying an additional 220,000 shares during the period. California Public Employees Retirement System boosted its position in shares of OptimizeRx by 4.8% during the third quarter. California Public Employees Retirement System now owns 30,500 shares of the company’s stock worth $636,000 after buying an additional 1,400 shares during the period. Finally, Engineers Gate Manager LP acquired a new stake in OptimizeRx in the fourth quarter worth approximately $461,000. Institutional investors and hedge funds own 62.41% of the company’s stock.

OptimizeRx Company Profile (NASDAQ:OPRX)

OptimizeRx Corporation operates as a digital health company that facilitates communication at point-of-care among various stakeholders in healthcare. Its cloud-based solution supports patient adherence to medications by providing real-time access to financial assistance, prior authorization, and critical clinical information; and network consists of electronic health record company platforms, which provide the ambulatory patient market with access to their workflow at the point-of-care.

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