Point72 Asset Management L.P. Sells 601,491 Shares of Definitive Healthcare Corp. (NASDAQ:DH)

Point72 Asset Management L.P. reduced its position in shares of Definitive Healthcare Corp. (NASDAQ:DH - Free Report) by 73.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 213,109 shares of the company's stock after selling 601,491 shares during the quarter. Point72 Asset Management L.P. owned 0.18% of Definitive Healthcare worth $1,164,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of DH. Norden Group LLC purchased a new position in Definitive Healthcare during the first quarter valued at approximately $83,000. Conestoga Capital Advisors LLC increased its stake in shares of Definitive Healthcare by 1.3% in the first quarter. Conestoga Capital Advisors LLC now owns 5,595,627 shares of the company's stock worth $45,157,000 after acquiring an additional 74,490 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Definitive Healthcare during the first quarter worth $290,000. Oppenheimer Asset Management Inc. boosted its position in Definitive Healthcare by 40.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 49,393 shares of the company's stock valued at $399,000 after purchasing an additional 14,229 shares during the last quarter. Finally, Swiss National Bank grew its stake in Definitive Healthcare by 2.9% in the first quarter. Swiss National Bank now owns 103,300 shares of the company's stock valued at $834,000 after purchasing an additional 2,900 shares in the last quarter. Hedge funds and other institutional investors own 98.67% of the company's stock.

Definitive Healthcare Stock Performance

Shares of Definitive Healthcare stock traded down $0.01 during trading on Friday, reaching $4.34. The company's stock had a trading volume of 262,359 shares, compared to its average volume of 801,001. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.40 and a current ratio of 2.40. The business's fifty day moving average price is $4.36 and its 200-day moving average price is $5.63. The firm has a market cap of $511.84 million, a price-to-earnings ratio of -2.49, a price-to-earnings-growth ratio of 6.49 and a beta of 1.33. Definitive Healthcare Corp. has a one year low of $3.19 and a one year high of $10.62.

Definitive Healthcare (NASDAQ:DH - Get Free Report) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. Definitive Healthcare had a positive return on equity of 0.98% and a negative net margin of 156.65%. The firm had revenue of $63.70 million for the quarter, compared to analyst estimates of $63.19 million. During the same period in the previous year, the company posted $0.08 earnings per share. The company's quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts predict that Definitive Healthcare Corp. will post 0.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

DH has been the subject of several recent research reports. BTIG Research began coverage on Definitive Healthcare in a research note on Tuesday, September 17th. They issued a "buy" rating and a $7.00 price target for the company. Morgan Stanley reduced their price target on Definitive Healthcare from $9.00 to $5.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 6th. Robert W. Baird reduced their price target on Definitive Healthcare from $6.00 to $5.00 and set a "neutral" rating for the company in a research report on Wednesday, August 7th. Barclays reduced their price target on Definitive Healthcare from $6.00 to $4.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut Definitive Healthcare from a "neutral" rating to an "underweight" rating and reduced their price target for the stock from $7.00 to $5.00 in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $5.81.

Definitive Healthcare Profile

Definitive Healthcare Corp., together with its subsidiaries, provides software as a service (SaaS) healthcare commercial intelligence platform in the United States and internationally. Its SaaS platform provides information on healthcare providers and their activities to help its customers from product development to go-to-market planning, and sales and marketing execution.