OptimizeRx (NASDAQ:OPRX) Downgraded by Zacks Research to "Hold"

Key Points

• OptimizeRx was downgraded from a "strong-buy" to a "hold" rating by Zacks Research, reflecting a shift in analyst sentiment surrounding the stock.
• Despite the downgrade, other analysts, including Stifel Nicolaus and JMP Securities, have increased their price targets, indicating a mixed outlook with several "buy" ratings still in place.
• Insider activity shows a notable decrease in ownership for Director Patrick D. Spangler and CEO Stephen L. Silvestro, with Spangler selling over 11,000 shares, which may raise concerns among investors.

OptimizeRx (NASDAQ:OPRX - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research analysts also recently commented on OPRX. Stifel Nicolaus upped 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. Weiss Ratings reissued a "sell (d-)" rating on shares of OptimizeRx in a research note on Wednesday. JMP Securities increased their price target on OptimizeRx from $14.00 to $20.00 and gave the stock a "market outperform" rating in a research note on Monday, August 11th. Finally, Roth Capital reaffirmed a "buy" rating on shares of OptimizeRx in a research note on Friday, August 8th. Eight analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $11.81.

OptimizeRx Price Performance

Shares of OPRX opened at $18.24 on Tuesday. The company has a market cap of $338.72 million, a P/E ratio of -33.78 and a beta of 1.25. The stock has a fifty day moving average price of $17.24 and a 200 day moving average price of $13.36. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.57 and a quick ratio of 2.57. OptimizeRx has a 12 month low of $3.78 and a 12 month high of $20.69.

Insider Activity

In related news, Director Patrick D. Spangler sold 11,120 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $17.49, for a total value of $194,488.80. Following the completion of the sale, the director directly owned 44,215 shares of the company's stock, valued at approximately $773,320.35. This represents a 20.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen L. Silvestro sold 1,620 shares of the firm's stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $18.75, for a total value of $30,375.00. Following the sale, the chief executive officer directly owned 188,916 shares of the company's stock, valued at $3,542,175. This trade represents a 0.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Blair William & Co. IL grew its holdings in OptimizeRx by 4.9% in the 1st quarter. Blair William & Co. IL now owns 631,031 shares of the company's stock valued at $5,465,000 after buying an additional 29,648 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in OptimizeRx by 47.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 124,751 shares of the company's stock valued at $1,080,000 after buying an additional 39,969 shares during the last quarter. Calamos Advisors LLC acquired a new stake in OptimizeRx in the 1st quarter valued at approximately $289,000. GAMMA Investing LLC acquired a new stake in shares of OptimizeRx during the 1st quarter worth approximately $33,000. Finally, Bank of America Corp DE grew its holdings in shares of OptimizeRx by 54.5% during the 4th quarter. Bank of America Corp DE now owns 73,934 shares of the company's stock worth $359,000 after purchasing an additional 26,093 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

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.

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