Definitive Healthcare (NASDAQ:DH) Stock Price Down 5.6% - Here's What Happened

Key Points

• Definitive Healthcare's stock dropped by 5.6% to $3.65, with trading volume significantly lower than average, indicating reduced investor activity.
• Analysts have mixed ratings for the stock, with target prices ranging from $3.00 to $6.00 and an average rating of "Hold" based on recent performance and forecasts.
• The company reported a revenue of $59.19 million for its last quarter, surpassing analyst expectations, although it showed a decline in net margin compared to the same quarter last year.

Definitive Healthcare Corp. (NASDAQ:DH - Get Free Report) shares traded down 5.6% on Monday . The company traded as low as $3.67 and last traded at $3.65. 373,065 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 840,128 shares. The stock had previously closed at $3.86.

Wall Street Analysts Forecast Growth

DH has been the topic of several research reports. The Goldman Sachs Group increased their target price on Definitive Healthcare from $3.00 to $3.40 and gave the stock a "neutral" rating in a research report on Monday, May 12th. BTIG Research downgraded Definitive Healthcare from a "buy" rating to a "neutral" rating in a research note on Friday, May 9th. Wall Street Zen upgraded Definitive Healthcare from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Robert W. Baird set a $4.00 price target on Definitive Healthcare in a research note on Friday. Finally, Stifel Nicolaus raised their target price on shares of Definitive Healthcare from $5.00 to $6.00 and gave the stock a "buy" rating in a report on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $4.73.

Definitive Healthcare Trading Down 8.8%

The company has a market cap of $523.22 million, a price-to-earnings ratio of -1.33, a price-to-earnings-growth ratio of 6.50 and a beta of 1.64. The company's fifty day moving average price is $3.89 and its two-hundred day moving average price is $3.61. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.37.

Definitive Healthcare (NASDAQ:DH - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.03. The business had revenue of $59.19 million during the quarter, compared to analyst estimates of $56.20 million. Definitive Healthcare had a negative net margin of 124.43% and a positive return on equity of 3.65%. Definitive Healthcare's revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 earnings per share. Research analysts expect that Definitive Healthcare Corp. will post 0.16 earnings per share for the current year.

Hedge Funds Weigh In On Definitive Healthcare

A number of hedge funds and other institutional investors have recently made changes to their positions in DH. Wells Fargo & Company MN raised its holdings in shares of Definitive Healthcare by 27.4% during the fourth quarter. Wells Fargo & Company MN now owns 31,297 shares of the company's stock worth $129,000 after acquiring an additional 6,736 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Definitive Healthcare by 20.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,572 shares of the company's stock worth $85,000 after acquiring an additional 3,496 shares during the period. Northern Trust Corp raised its holdings in shares of Definitive Healthcare by 3.2% during the fourth quarter. Northern Trust Corp now owns 497,279 shares of the company's stock worth $2,044,000 after acquiring an additional 15,530 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Definitive Healthcare by 6.2% during 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 acquiring an additional 4,748 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Definitive Healthcare by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 1,272,660 shares of the company's stock worth $5,231,000 after acquiring an additional 39,938 shares during the period. 98.67% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.