Definitive Healthcare (NASDAQ:DH) Shares Down 7% - Should You Sell?

Key Points

• Definitive Healthcare's share price fell by 7% to $3.78, with trading volume down significantly by 94% from the average.
• Despite the recent decline, multiple Wall Street analysts have upgraded their ratings, with a consensus rating of "Hold" and a price target around $4.28.
• Institutional investors are heavily involved, with 98.67% of the stock owned by them, indicating strong interest in the company's performance.

Definitive Healthcare Corp. (NASDAQ:DH - Get Free Report)'s share price was down 7% during trading on Wednesday . The company traded as low as $3.86 and last traded at $3.78. Approximately 44,170 shares were traded during trading, a decline of 94% from the average daily volume of 743,257 shares. The stock had previously closed at $4.06.

Wall Street Analysts Forecast Growth

DH has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Definitive Healthcare from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Robert W. Baird set a $4.00 target price on shares of Definitive Healthcare in a report on Friday, August 8th. Finally, Stifel Nicolaus raised their price target on shares of Definitive Healthcare from $5.00 to $6.00 and gave the company a "buy" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $4.28.

Definitive Healthcare Stock Performance

The company's 50-day moving average price is $3.98 and its two-hundred day moving average price is $3.50. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.65 and a quick ratio of 1.65. The company has a market capitalization of $518.88 million, a price-to-earnings ratio of -1.37 and a beta of 1.65.

Hedge Funds Weigh In On Definitive Healthcare

Several institutional investors have recently added to or reduced their stakes in DH. Cubist Systematic Strategies LLC grew its position in shares of Definitive Healthcare by 2,456.4% during the 1st quarter. Cubist Systematic Strategies LLC now owns 144,284 shares of the company's stock worth $417,000 after buying an additional 138,640 shares during the period. Nuveen LLC bought a new position in Definitive Healthcare during the first quarter worth $300,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Definitive Healthcare by 6.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 81,358 shares of the company's stock worth $334,000 after purchasing an additional 4,748 shares during the period. ProShare Advisors LLC increased its stake in Definitive Healthcare by 49.1% in the fourth quarter. ProShare Advisors LLC now owns 15,018 shares of the company's stock valued at $62,000 after purchasing an additional 4,943 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Definitive Healthcare by 70.0% during the first quarter. Allianz Asset Management GmbH now owns 42,000 shares of the company's stock valued at $121,000 after purchasing an additional 17,300 shares during the period. 98.67% of the stock is owned by institutional investors and hedge funds.

About Definitive Healthcare

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.

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