OptimizeRx (NASDAQ:OPRX) Sees Large Volume Increase

OptimizeRx Co. (NASDAQ:OPRX) saw unusually-strong trading volume on Tuesday . Approximately 10,410 shares traded hands during trading, a decline of 96% from the previous session’s volume of 292,523 shares.The stock last traded at $52.40 and had previously closed at $50.85.

Several analysts recently weighed in on OPRX shares. Lake Street Capital increased their price target on OptimizeRx from $40.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 26th. Roth Capital increased their price target on OptimizeRx from $70.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, March 3rd. B. Riley increased their price target on OptimizeRx from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 25th. Royal Bank of Canada started coverage on OptimizeRx in a research report on Monday. They issued an “outperform” rating and a $65.00 price objective on the stock. Finally, Zacks Investment Research downgraded OptimizeRx from a “buy” rating to a “hold” rating in a research report on Friday, February 26th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $63.00.

The business has a 50-day moving average price of $49.71 and a 200-day moving average price of $36.64. The firm has a market cap of $843.71 million, a P/E ratio of -132.11 and a beta of 0.82.

OptimizeRx (NASDAQ:OPRX) last issued its quarterly earnings data on Tuesday, February 23rd. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. OptimizeRx had a negative return on equity of 10.86% and a negative net margin of 16.20%. As a group, sell-side analysts expect that OptimizeRx Co. will post -0.08 EPS for the current year.

In other OptimizeRx news, CFO Douglas P. Baker sold 5,032 shares of the stock in a transaction dated Friday, January 29th. The stock was sold at an average price of $47.25, for a total value of $237,762.00. Following the completion of the sale, the chief financial officer now directly owns 85,902 shares in the company, valued at $4,058,869.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William J. Febbo sold 80,000 shares of the stock in a transaction dated Thursday, March 25th. The shares were sold at an average price of $46.10, for a total value of $3,688,000.00. Following the completion of the sale, the chief executive officer now owns 273,278 shares of the company’s stock, valued at $12,598,115.80. The disclosure for this sale can be found here. 8.10% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in shares of OptimizeRx by 22.5% in the fourth quarter. Russell Investments Group Ltd. now owns 51,002 shares of the company’s stock worth $1,588,000 after purchasing an additional 9,355 shares during the last quarter. Handelsbanken Fonder AB raised its stake in shares of OptimizeRx by 56.4% in the fourth quarter. Handelsbanken Fonder AB now owns 610,000 shares of the company’s stock worth $19,008,000 after purchasing an additional 220,000 shares during the last quarter. Calamos Advisors LLC raised its stake in shares of OptimizeRx by 69.6% in the fourth quarter. Calamos Advisors LLC now owns 67,278 shares of the company’s stock worth $2,096,000 after purchasing an additional 27,618 shares during the last quarter. Northern Trust Corp raised its stake in shares of OptimizeRx by 10.5% in the fourth quarter. Northern Trust Corp now owns 237,567 shares of the company’s stock worth $7,403,000 after purchasing an additional 22,617 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in OptimizeRx during the fourth quarter worth about $461,000. Hedge funds and other institutional investors own 62.41% of the company’s stock.

About OptimizeRx (NASDAQ:OPRX)

OptimizeRx Corporation operates as a digital health company that facilitates communication at point-of-care among various stakeholders in healthcare. Its cloud-based solution supports patient adherence to medications by providing real-time access to financial assistance, prior authorization, and critical clinical information; and network consists of electronic health record company platforms, which provide the ambulatory patient market with access to their workflow at the point-of-care.

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