OptimizeRx Co. (NASDAQ:OPRX) Stock Holdings Lifted by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in OptimizeRx Co. (NASDAQ:OPRX - Free Report) by 101.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 142,146 shares of the company's stock after acquiring an additional 71,700 shares during the quarter. Renaissance Technologies LLC owned 0.78% of OptimizeRx worth $1,421,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new position in OptimizeRx in the second quarter valued at $25,000. Rhumbline Advisers raised its position in OptimizeRx by 9.2% in the second quarter. Rhumbline Advisers now owns 31,462 shares of the company's stock valued at $315,000 after purchasing an additional 2,658 shares during the period. BNP Paribas Financial Markets raised its position in OptimizeRx by 283.6% in the first quarter. BNP Paribas Financial Markets now owns 27,910 shares of the company's stock valued at $339,000 after purchasing an additional 20,634 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in OptimizeRx in the first quarter valued at about $542,000. Finally, Legato Capital Management LLC raised its position in OptimizeRx by 74.0% in the second quarter. Legato Capital Management LLC now owns 59,693 shares of the company's stock valued at $597,000 after purchasing an additional 25,377 shares during the period. Institutional investors and hedge funds own 76.47% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on OPRX shares. JMP Securities reissued a "market outperform" rating and issued a $16.00 price objective on shares of OptimizeRx in a research report on Friday, June 21st. Royal Bank of Canada cut their price objective on OptimizeRx from $17.00 to $14.00 and set an "outperform" rating on the stock in a research report on Friday, August 16th. B. Riley began coverage on OptimizeRx in a research report on Thursday, July 25th. They set a "buy" rating and a $18.50 target price on the stock. Finally, Barclays dropped their target price on OptimizeRx from $15.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Monday, August 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $14.50.

OptimizeRx Stock Performance

Shares of NASDAQ OPRX traded down $0.29 during midday trading on Friday, hitting $7.54. 133,502 shares of the company's stock were exchanged, compared to its average volume of 125,786. OptimizeRx Co. has a twelve month low of $6.84 and a twelve month high of $16.65. The firm has a market cap of $137.76 million, a P/E ratio of -7.39 and a beta of 1.27. The stock's 50 day moving average price is $8.28 and its 200-day moving average price is $10.02. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.07 and a quick ratio of 3.07.

OptimizeRx (NASDAQ:OPRX - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.11. OptimizeRx had a negative return on equity of 5.97% and a negative net margin of 21.53%. The firm had revenue of $18.81 million for the quarter, compared to analysts' expectations of $20.47 million. Equities research analysts anticipate that OptimizeRx Co. will post -0.33 EPS for the current year.

OptimizeRx 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.