Connors Investor Services Inc. Grows Position in OptimizeRx Co. (NASDAQ:OPRX)

Connors Investor Services Inc. boosted its stake in shares of OptimizeRx Co. (NASDAQ:OPRX - Free Report) by 170.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,000 shares of the company's stock after acquiring an additional 37,193 shares during the period. Connors Investor Services Inc. owned 0.32% of OptimizeRx worth $287,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OPRX. Whetstone Capital Advisors LLC acquired a new position in shares of OptimizeRx in the 4th quarter valued at approximately $6,563,000. Royce & Associates LP acquired a new stake in shares of OptimizeRx during the 4th quarter valued at $5,198,000. Kennedy Capital Management LLC raised its holdings in OptimizeRx by 57.8% in the 4th quarter. Kennedy Capital Management LLC now owns 594,000 shares of the company's stock valued at $2,887,000 after buying an additional 217,676 shares during the last quarter. Dimensional Fund Advisors LP increased its position in OptimizeRx by 9.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 444,167 shares of the company's stock valued at $2,159,000 after acquiring an additional 39,740 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of OptimizeRx by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 400,621 shares of the company's stock valued at $1,948,000 after acquiring an additional 4,821 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

OptimizeRx Price Performance

NASDAQ:OPRX remained flat at $10.05 on Monday. The company's stock had a trading volume of 115,611 shares, compared to its average volume of 425,886. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.23 and a current ratio of 3.23. OptimizeRx Co. has a 1-year low of $3.78 and a 1-year high of $14.13. The company's 50 day moving average price is $7.69 and its two-hundred day moving average price is $6.18. The company has a market cap of $185.85 million, a P/E ratio of -7.55 and a beta of 1.28.

Insider Buying and Selling

In other OptimizeRx news, Director James Paul Lang acquired 321,408 shares of the stock in a transaction on Friday, March 14th. The shares were purchased at an average price of $7.60 per share, for a total transaction of $2,442,700.80. Following the completion of the acquisition, the director now owns 389,452 shares in the company, valued at approximately $2,959,835.20. This represents a 472.35 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $6.00 target price (down from $7.00) on shares of OptimizeRx in a research report on Wednesday, January 8th. JMP Securities reiterated a "market outperform" rating and issued a $8.00 target price on shares of OptimizeRx in a report on Thursday, February 6th. Finally, B. Riley upgraded shares of OptimizeRx to a "strong-buy" rating in a research report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $9.06.

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.