OptimizeRx (NASDAQ:OPRX) Director Patrick D. Spangler Sells 11,120 Shares

Key Points

• Patrick Spangler, Director of OptimizeRx, sold 11,120 shares at an average price of $17.49, reducing his position by 20.10% to a total of 44,215 shares valued at approximately $773,320.
• Despite the insider sale, OptimizeRx stock has seen an increase, recently trading at $18.56, with a market capitalization of $344.66 million.
• Analysts are optimistic about OptimizeRx, with several upgrading their ratings and price targets, with a consensus rating of "Moderate Buy" and a target price of $11.81.

OptimizeRx Corp. (NASDAQ:OPRX - Get Free Report) Director Patrick D. Spangler sold 11,120 shares of OptimizeRx stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $17.49, for a total transaction of $194,488.80. Following the transaction, the director directly owned 44,215 shares of the company's stock, valued at approximately $773,320.35. This trade represents a 20.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

OptimizeRx Stock Performance

OPRX stock traded up $0.79 during midday trading on Tuesday, hitting $18.12. 254,779 shares of the stock traded hands, compared to its average volume of 381,555. OptimizeRx Corp. has a 1-year low of $3.78 and a 1-year high of $19.25. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.57 and a quick ratio of 2.57. The stock's fifty day simple moving average is $15.45 and its 200-day simple moving average is $12.01. The firm has a market cap of $336.40 million, a P/E ratio of -33.55 and a beta of 1.20.

Wall Street Analysts Forecast Growth

OPRX has been the topic of a number of recent analyst reports. Zacks Research upgraded OptimizeRx from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. JMP Securities raised their price target on shares of OptimizeRx from $14.00 to $20.00 and gave the company a "market outperform" rating in a research note on Monday, August 11th. Stifel Nicolaus boosted their price objective on OptimizeRx from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Wall Street Zen raised OptimizeRx from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Roth Capital reaffirmed a "buy" rating on shares of OptimizeRx in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.81.

Institutional Investors Weigh In On OptimizeRx

A number of institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC grew its holdings in shares of OptimizeRx by 600.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,121 shares of the company's stock valued at $29,000 after purchasing an additional 1,818 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of OptimizeRx during the 1st quarter worth approximately $33,000. Quantbot Technologies LP purchased a new position in OptimizeRx in the second quarter valued at about $44,000. Wells Fargo & Company MN grew its stake 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. Finally, BNP Paribas Financial Markets lifted its position in shares of OptimizeRx by 119.2% in the second quarter. BNP Paribas Financial Markets now owns 4,074 shares of the company's stock valued at $55,000 after acquiring an additional 2,215 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

OptimizeRx Company Profile

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.