Family Management Corp bought a new position in OptimizeRx Co. (OTCMKTS:OPRX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 17,668 shares of the technology company’s stock, valued at approximately $184,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wolverine Asset Management LLC bought a new stake in shares of OptimizeRx during the second quarter worth approximately $7,745,000. Granite Investment Partners LLC bought a new stake in shares of OptimizeRx during the second quarter worth approximately $478,000. Finally, Perkins Capital Management Inc. bought a new stake in shares of OptimizeRx during the second quarter worth approximately $1,634,000. 0.35% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on OPRX shares. Roth Capital reissued a “buy” rating on shares of OptimizeRx in a research note on Monday, June 18th. Lake Street Capital upped their target price on shares of OptimizeRx to $12.00 and gave the company a “positive” rating in a research note on Monday, June 25th. B. Riley upped their target price on shares of OptimizeRx from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, August 8th. Finally, Zacks Investment Research raised shares of OptimizeRx from a “hold” rating to a “strong-buy” rating and set a $15.00 target price for the company in a research note on Tuesday, August 21st.
In other OptimizeRx news, insider Douglas P. Baker sold 4,784 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $12.01, for a total value of $57,455.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 2,995 shares of company stock valued at $31,341 in the last ninety days.
Shares of OTCMKTS:OPRX opened at $16.61 on Friday. OptimizeRx Co. has a 52 week low of $2.30 and a 52 week high of $14.10. The company has a market capitalization of $120.07 million, a price-to-earnings ratio of -79.10 and a beta of 0.53.
OptimizeRx (OTCMKTS:OPRX) last issued its earnings results on Tuesday, August 7th. The technology company reported $0.02 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. OptimizeRx had a negative net margin of 10.02% and a negative return on equity of 22.08%. The firm had revenue of $5.10 million during the quarter, compared to the consensus estimate of $4.34 million. equities research analysts forecast that OptimizeRx Co. will post -0.08 EPS for the current fiscal year.
OptimizeRx Corporation provides digital health messaging to the pharmaceutical industry. The company offers a direct channel for pharmaceutical companies to communicate with healthcare providers. Its products and applications include financial messaging, a virtual patient support center that allows doctors and staff to access sample vouchers, co-pay coupons, and other patient support through their EMR and/or e-Prescribe systems to search, print, or electronically dispense directly to patients, as well as a network of pharmacies; and brand messaging services, such as various brand awareness and clinical messaging services consisting of brand awareness messages, reminder ads, clinical messages, and unbranded messages that could be targeted by specialty, diagnostic code, and other criteria.
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