Perkins Capital Management Inc. Has $378,000 Stock Holdings in OptimizeRx Corp. (NASDAQ:OPRX)

Key Points

• Perkins Capital Management Inc. reduced its stake in OptimizeRx Corp. by 58.8% in Q1, owning 43,596 shares worth approximately $378,000 at the end of the quarter.
• OptimzizeRx Corp. reported $0.08 EPS for the quarter, exceeding expectations of a ($0.11) loss, while revenue reached $21.93 million, surpassing analysts' expectations.
• Multiple analysts maintain a "buy" rating for OptimizeRx, with the consensus target price raised to $10.81 and several institutions increasing their holdings in the company.

Perkins Capital Management Inc. lowered its position in shares of OptimizeRx Corp. (NASDAQ:OPRX - Free Report) by 58.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 43,596 shares of the company's stock after selling 62,217 shares during the period. Perkins Capital Management Inc. owned 0.24% of OptimizeRx worth $378,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC bought a new position in shares of OptimizeRx in the first quarter worth $33,000. Wells Fargo & Company MN lifted its holdings in OptimizeRx by 33.3% in the 4th quarter. Wells Fargo & Company MN now owns 11,208 shares of the company's stock valued at $54,000 after acquiring an additional 2,797 shares during the last quarter. Graham Capital Management L.P. acquired a new position in shares of OptimizeRx in the 4th quarter valued at $81,000. BNP Paribas Financial Markets boosted its position in shares of OptimizeRx by 504.6% in the 4th quarter. BNP Paribas Financial Markets now owns 22,308 shares of the company's stock valued at $108,000 after purchasing an additional 18,618 shares during the period. Finally, Corton Capital Inc. acquired a new position in shares of OptimizeRx in the 4th quarter valued at $110,000. Institutional investors own 76.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Wall Street Zen upgraded OptimizeRx from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Stifel Nicolaus increased their price target on OptimizeRx from $12.50 to $16.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Citigroup reiterated an "outperform" rating on shares of OptimizeRx in a research report on Tuesday, May 13th. B. Riley restated a "buy" rating on shares of OptimizeRx in a research report on Tuesday, May 13th. Finally, Roth Capital restated a "buy" rating on shares of OptimizeRx in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $10.81.

OptimizeRx Stock Up 2.1%

Shares of NASDAQ OPRX traded up $0.26 during mid-day trading on Thursday, reaching $12.90. The company had a trading volume of 95,822 shares, compared to its average volume of 368,285. The stock has a fifty day moving average of $13.34 and a two-hundred day moving average of $9.43. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.82 and a current ratio of 2.82. The company has a market capitalization of $238.71 million, a price-to-earnings ratio of -15.47, a PEG ratio of 4.30 and a beta of 1.34. OptimizeRx Corp. has a 12-month low of $3.78 and a 12-month high of $15.71.

OptimizeRx (NASDAQ:OPRX - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.19. The business had revenue of $21.93 million during the quarter, compared to analyst estimates of $18.69 million. OptimizeRx had a negative return on equity of 0.29% and a negative net margin of 16.33%. As a group, equities research analysts expect that OptimizeRx Corp. will post -0.33 EPS for the current year.

About OptimizeRx

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.