Pinnacle Associates Ltd. Makes New Investment in Definitive Healthcare Corp. (NASDAQ:DH)

Key Points

• Pinnacle Associates Ltd. acquired 260,000 shares of Definitive Healthcare Corp., valued at approximately $751,000, representing a 0.24% ownership in the company.
• Definitive Healthcare reported a positive earnings per share of $0.05 for the last quarter, exceeding estimates, despite a 6.8% decline in revenue year-over-year.
• Analysts have mixed ratings for Definitive Healthcare, with an average rating of "Hold" and a target price increase to $5.10, amid recent changes in investment firm assessments.

Pinnacle Associates Ltd. acquired a new stake in shares of Definitive Healthcare Corp. (NASDAQ:DH - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 260,000 shares of the company's stock, valued at approximately $751,000. Pinnacle Associates Ltd. owned about 0.24% of Definitive Healthcare at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Irenic Capital Management LP lifted its holdings in Definitive Healthcare by 9.2% in the 4th quarter. Irenic Capital Management LP now owns 7,003,194 shares of the company's stock worth $28,783,000 after buying an additional 590,009 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Definitive Healthcare in the 4th quarter worth approximately $1,181,000. Two Sigma Investments LP lifted its holdings in Definitive Healthcare by 2,383.1% in the 4th quarter. Two Sigma Investments LP now owns 285,555 shares of the company's stock worth $1,174,000 after buying an additional 274,055 shares during the period. Sone Capital Management LLC purchased a new stake in Definitive Healthcare in the 4th quarter worth approximately $953,000. Finally, Victory Capital Management Inc. lifted its holdings in Definitive Healthcare by 519.3% in the 1st quarter. Victory Capital Management Inc. now owns 223,941 shares of the company's stock worth $647,000 after buying an additional 187,780 shares during the period. 98.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on DH shares. The Goldman Sachs Group lifted their price target on Definitive Healthcare from $3.00 to $3.40 and gave the company a "neutral" rating in a research report on Monday, May 12th. BTIG Research cut Definitive Healthcare from a "buy" rating to a "neutral" rating in a research note on Friday, May 9th. Finally, Wall Street Zen upgraded Definitive Healthcare from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $5.10.

Definitive Healthcare Trading Up 1.4%

DH traded up $0.06 during trading on Thursday, hitting $4.06. 127,933 shares of the stock were exchanged, compared to its average volume of 853,043. The firm has a 50 day simple moving average of $3.80 and a 200 day simple moving average of $3.63. The firm has a market cap of $602.74 million, a price-to-earnings ratio of -0.92, a P/E/G ratio of 6.87 and a beta of 1.64. Definitive Healthcare Corp. has a 1 year low of $2.15 and a 1 year high of $5.68. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.75 and a current ratio of 1.75.

Definitive Healthcare (NASDAQ:DH - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. The business had revenue of $59.19 million for the quarter, compared to analysts' expectations of $56.20 million. Definitive Healthcare had a positive return on equity of 3.69% and a negative net margin of 206.05%. The business's revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 EPS. As a group, equities analysts expect that Definitive Healthcare Corp. will post 0.16 EPS for the current year.

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.