Parkman Healthcare Partners LLC Sells 81,621 Shares of Schrodinger, Inc. $SDGR

Key Points

• Parkman Healthcare Partners LLC has reduced its holdings in Schrodinger, Inc. ($SDGR) by 14.5%, owning 481,470 shares after selling 81,621 shares in Q1.
• Schrodinger reported a $54.76 million revenue for the quarter, exceeding estimates, but posted a negative net margin of 76.22% and earnings of ($0.59) per share.
• Multiple brokerages have downgraded Schrodinger's stock rating, with Citigroup moving it from "buy" to "neutral" and lowering the price target from $35 to $20.

Parkman Healthcare Partners LLC trimmed its position in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 14.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 481,470 shares of the company's stock after selling 81,621 shares during the period. Parkman Healthcare Partners LLC owned about 0.66% of Schrodinger worth $9,504,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. ARK Investment Management LLC grew its holdings in Schrodinger by 3.9% during the 1st quarter. ARK Investment Management LLC now owns 2,294,519 shares of the company's stock valued at $45,294,000 after purchasing an additional 85,761 shares during the last quarter. Stephens Investment Management Group LLC grew its holdings in Schrodinger by 22.5% during the 1st quarter. Stephens Investment Management Group LLC now owns 1,969,941 shares of the company's stock valued at $38,887,000 after purchasing an additional 362,285 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Schrodinger by 3.6% during the 4th quarter. Lazard Asset Management LLC now owns 1,700,909 shares of the company's stock valued at $32,810,000 after purchasing an additional 58,541 shares during the last quarter. American Century Companies Inc. bought a new position in Schrodinger during the 1st quarter valued at about $19,787,000. Finally, Millennium Management LLC grew its holdings in Schrodinger by 42.3% during the 4th quarter. Millennium Management LLC now owns 761,653 shares of the company's stock valued at $14,692,000 after purchasing an additional 226,536 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors.

Schrodinger Price Performance

Shares of NASDAQ:SDGR traded up $0.02 during trading hours on Tuesday, hitting $19.46. The company's stock had a trading volume of 1,087,424 shares, compared to its average volume of 1,154,058. Schrodinger, Inc. has a 52 week low of $16.60 and a 52 week high of $28.47. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -7.85 and a beta of 1.79. The firm's fifty day moving average price is $20.36 and its 200 day moving average price is $21.68.

Schrodinger (NASDAQ:SDGR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.24. Schrodinger had a negative net margin of 76.22% and a negative return on equity of 45.70%. The business had revenue of $54.76 million during the quarter, compared to analyst estimates of $52.03 million. During the same quarter in the previous year, the business posted ($0.66) EPS. The company's quarterly revenue was up 15.7% compared to the same quarter last year. On average, equities research analysts predict that Schrodinger, Inc. will post -2.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SDGR shares. Morgan Stanley lowered their price objective on shares of Schrodinger from $28.00 to $19.00 and set an "equal weight" rating for the company in a research report on Monday, August 18th. Citigroup cut shares of Schrodinger from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $35.00 to $20.00 in a research report on Friday, August 15th. KeyCorp lowered their price objective on shares of Schrodinger from $32.00 to $30.00 and set an "overweight" rating for the company in a research report on Monday, July 14th. Barclays started coverage on shares of Schrodinger in a research report on Thursday, August 14th. They issued an "overweight" rating and a $25.00 price objective for the company. Finally, Wall Street Zen cut shares of Schrodinger from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $27.83.

About Schrodinger

Schrödinger, Inc, together with its subsidiaries, develops physics-based computational platform that enables discovery of novel molecules for drug development and materials applications. The company operates in two segments, Software and Drug Discovery. The Software segment is focused on licensing its software to transform molecular discovery for life sciences and materials science industries.