Definitive Healthcare (NASDAQ:DH) Downgraded by Morgan Stanley to “Equal Weight”

Definitive Healthcare (NASDAQ:DH) was downgraded by research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. They currently have a $9.00 target price on the stock, down from their prior target price of $11.50. Morgan Stanley’s price objective points to a potential upside of 24.14% from the company’s previous close.

A number of other research firms also recently weighed in on DH. Stifel Nicolaus decreased their target price on Definitive Healthcare from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, January 17th. Canaccord Genuity Group lifted their target price on Definitive Healthcare from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Thursday, February 29th. Barclays lifted their target price on Definitive Healthcare from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. Finally, Needham & Company LLC downgraded Definitive Healthcare from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $11.25.

Definitive Healthcare Trading Down 1.2 %

Shares of NASDAQ DH opened at $7.25 on Wednesday. Definitive Healthcare has a one year low of $5.53 and a one year high of $12.45. The firm has a market capitalization of $853.98 million, a PE ratio of -4.07, a PEG ratio of 6.12 and a beta of 1.41. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $7.78 and a two-hundred day moving average price of $8.31.

Definitive Healthcare (NASDAQ:DH) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.02). The firm had revenue of $65.93 million for the quarter, compared to analyst estimates of $66.01 million. Definitive Healthcare had a negative net margin of 80.40% and a positive return on equity of 0.43%. As a group, analysts predict that Definitive Healthcare will post 0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Definitive Healthcare by 11.7% in the third quarter. Bank of New York Mellon Corp now owns 1,090,136 shares of the company’s stock valued at $8,710,000 after acquiring an additional 113,963 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Definitive Healthcare by 6.2% in the third quarter. Vanguard Group Inc. now owns 4,331,543 shares of the company’s stock valued at $34,609,000 after acquiring an additional 254,726 shares during the last quarter. Eagle Asset Management Inc. raised its stake in shares of Definitive Healthcare by 7.5% in the third quarter. Eagle Asset Management Inc. now owns 784,230 shares of the company’s stock valued at $6,266,000 after acquiring an additional 54,590 shares during the last quarter. Raymond James & Associates raised its stake in shares of Definitive Healthcare by 24.2% in the third quarter. Raymond James & Associates now owns 650,327 shares of the company’s stock valued at $5,196,000 after acquiring an additional 126,613 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Definitive Healthcare by 68.4% in the third quarter. Victory Capital Management Inc. now owns 269,433 shares of the company’s stock valued at $2,153,000 after acquiring an additional 109,463 shares during the last quarter. Institutional investors own 98.67% of the company’s stock.

Definitive Healthcare Company Profile

Definitive Healthcare Corp., together with its subsidiaries, provides software as a service (SaaS) healthcare commercial intelligence platform in the United States and internationally. Its SaaS platform provides information on healthcare providers and their activities to help its customers from product development to go-to-market planning, and sales and marketing execution.