Legato Capital Management LLC Raises Holdings in OptimizeRx Co. (NASDAQ:OPRX)

Legato Capital Management LLC lifted its holdings in shares of OptimizeRx Co. (NASDAQ:OPRX) by 74.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,693 shares of the company’s stock after purchasing an additional 25,377 shares during the period. Legato Capital Management LLC owned about 0.33% of OptimizeRx worth $597,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of OPRX. Summit Securities Group LLC acquired a new stake in OptimizeRx during the second quarter worth approximately $25,000. Hillsdale Investment Management Inc. acquired a new position in shares of OptimizeRx in the 4th quarter valued at $225,000. BNP Paribas Financial Markets boosted its holdings in shares of OptimizeRx by 283.6% in the 1st 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 last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of OptimizeRx in the 1st quarter valued at $542,000. Finally, Greenwood Capital Associates LLC boosted its holdings in shares of OptimizeRx by 58.8% in the 4th quarter. Greenwood Capital Associates LLC now owns 54,675 shares of the company’s stock valued at $782,000 after purchasing an additional 20,245 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on OPRX shares. Stifel Nicolaus reiterated a “buy” rating and issued a $13.00 price target on shares of OptimizeRx in a report on Wednesday, May 15th. Barclays decreased their price target on shares of OptimizeRx from $15.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday, August 12th. B. Riley initiated coverage on shares of OptimizeRx in a report on Thursday, July 25th. They issued a “buy” rating and a $18.50 price target on the stock. JMP Securities restated a “market outperform” rating and set a $16.00 target price on shares of OptimizeRx in a report on Friday, June 21st. Finally, Royal Bank of Canada reduced their target price on shares of OptimizeRx from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday, August 16th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.50.

OptimizeRx Stock Performance

NASDAQ:OPRX opened at $8.24 on Wednesday. OptimizeRx Co. has a twelve month low of $6.92 and a twelve month high of $16.65. The firm has a market capitalization of $150.54 million, a price-to-earnings ratio of -8.08 and a beta of 1.26. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.27. The firm’s fifty day simple moving average is $9.69 and its 200 day simple moving average is $11.40.

About OptimizeRx

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.