Definitive Healthcare (NASDAQ:DH) Downgraded by Morgan Stanley to "Equal Weight"

Morgan Stanley cut shares of Definitive Healthcare (NASDAQ:DH - Free Report) from an overweight rating to an equal weight rating in a research note issued to investors on Wednesday morning, Marketbeat reports. They currently have $9.00 price objective on the stock, down from their prior price objective of $11.50.

Several other research analysts also recently issued reports on the company. Canaccord Genuity Group lifted their price objective on Definitive Healthcare from $9.00 to $10.00 and gave the stock a hold rating in a research report on Thursday, February 29th. Needham & Company LLC downgraded Definitive Healthcare from a buy rating to a hold rating in a research report on Wednesday, January 17th. Barclays increased their price objective on Definitive Healthcare from $10.00 to $11.00 and gave the company an equal weight rating in a research note on Friday, March 1st. Finally, Stifel Nicolaus decreased their price objective on Definitive Healthcare from $12.00 to $11.00 and set a buy rating on the stock in a research note on Wednesday, January 17th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $10.81.

Definitive Healthcare Stock Performance

NASDAQ DH traded down $1.90 during trading hours on Wednesday, hitting $5.35. 5,266,918 shares of the stock were exchanged, compared to its average volume of 613,781. Definitive Healthcare has a 12-month low of $4.38 and a 12-month high of $12.45. The stock has a 50-day moving average of $7.70 and a 200 day moving average of $8.29. The company has a market cap of $630.18 million, a price-to-earnings ratio of -3.01, a price-to-earnings-growth ratio of 6.12 and a beta of 1.41. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.20.

Definitive Healthcare (NASDAQ:DH - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.02). The company had revenue of $65.93 million during the quarter, compared to analysts' expectations of $66.01 million. Definitive Healthcare had a negative net margin of 80.40% and a positive return on equity of 0.43%. As a group, equities research analysts forecast that Definitive Healthcare will post 0.11 earnings per share for the current year.

Institutional Investors Weigh In On Definitive Healthcare

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its holdings in shares of Definitive Healthcare by 599.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,786 shares of the company's stock valued at $58,000 after acquiring an additional 4,959 shares during the last quarter. Norden Group LLC bought a new stake in shares of Definitive Healthcare in the 1st quarter valued at approximately $83,000. Berry Wealth Group LP bought a new stake in shares of Definitive Healthcare in the 1st quarter valued at approximately $99,000. Reynders McVeigh Capital Management LLC bought a new stake in shares of Definitive Healthcare in the 4th quarter valued at approximately $129,000. Finally, Arizona State Retirement System increased its holdings in shares of Definitive Healthcare by 13.6% in the 4th quarter. Arizona State Retirement System now owns 14,253 shares of the company's stock valued at $142,000 after acquiring an additional 1,701 shares during the last quarter. 98.67% of the stock is currently owned by hedge funds and other institutional investors.

Definitive Healthcare Company Profile

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.