Invesco Ltd. Takes Position in OptimizeRx Corp. $OPRX

Key Points

• Invesco Ltd. purchased 293,554 shares of OptimizeRx Corp., valued at approximately $2.54 million, increasing its stake to 1.59% as of the latest SEC filing.
• Institutional investors collectively own 76.47% of OptimizeRx, with several hedge funds recently acquiring new stakes or increasing existing holdings.
• Analysts have raised their price targets for OptimizeRx, with JMP Securities increasing theirs from $14.00 to $20.00, indicating a "market outperform" rating.

Invesco Ltd. bought a new stake in OptimizeRx Corp. (NASDAQ:OPRX - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 293,554 shares of the company's stock, valued at approximately $2,542,000. Invesco Ltd. owned about 1.59% of OptimizeRx as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of OPRX. JPMorgan Chase & Co. raised its stake in shares of OptimizeRx by 670.3% during the fourth quarter. JPMorgan Chase & Co. now owns 59,952 shares of the company's stock valued at $291,000 after purchasing an additional 52,169 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of OptimizeRx by 33.3% during the fourth quarter. Wells Fargo & Company MN now owns 11,208 shares of the company's stock valued at $54,000 after purchasing an additional 2,797 shares in the last quarter. Barclays PLC raised its stake in shares of OptimizeRx by 13.5% during the fourth quarter. Barclays PLC now owns 30,574 shares of the company's stock valued at $148,000 after purchasing an additional 3,640 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of OptimizeRx by 9.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 444,167 shares of the company's stock valued at $2,159,000 after purchasing an additional 39,740 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of OptimizeRx by 3.3% during the fourth quarter. Northern Trust Corp now owns 189,044 shares of the company's stock valued at $919,000 after purchasing an additional 6,043 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on OPRX shares. JMP Securities lifted their target price on OptimizeRx from $14.00 to $20.00 and gave the stock a "market outperform" rating in a report on Monday, August 11th. Citigroup reaffirmed an "outperform" rating on shares of OptimizeRx in a report on Tuesday, May 13th. Roth Capital reaffirmed a "buy" rating on shares of OptimizeRx in a report on Friday, August 8th. Wall Street Zen raised OptimizeRx from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Stifel Nicolaus lifted their price target on OptimizeRx from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $11.81.

OptimizeRx Stock Performance

OptimizeRx stock traded up $1.07 during trading hours on Thursday, reaching $18.61. 273,510 shares of the company were exchanged, compared to its average volume of 477,994. The firm has a market cap of $345.59 million, a price-to-earnings ratio of -34.46, a PEG ratio of 2.48 and a beta of 1.20. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average of $14.81 and a 200 day moving average of $11.33. OptimizeRx Corp. has a 12 month low of $3.78 and a 12 month high of $18.96.

OptimizeRx 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.