As of the end of the fourth quarter of the fiscal year 2022, Mirae Asset Global Investments Co. Ltd. has reported a reduction in its stake in shares of OptimizeRx Co., holding only 47,203 shares after selling 12,913 during that period. According to documents filed with the Securities & Exchange Commission, this constitutes a decrease of 21.5% from their previous holdings.
The institutional investor owned 0.28% of OptimizeRx worth $793,000 at the end of the most recent quarter, indicating some confidence in its investment despite reducing its stake in the company.
OptimizeRx recently announced its quarterly earnings data on March 8th, revealing earnings per share of $0.01 for the quarter. During this period, OptimizeRx had revenue totaling $19.70 million compared to analysts’ expectations of $21.84 million.
This news may come as a surprise to industry experts who have been anticipating higher returns on investment for OptimizeRx as it continues to make strides in revolutionizing healthcare technology through its innovative digital communications platform.
Regardless, research analysts predict that the company will post -0.81 EPS for the current fiscal year, which could be concerning to investors looking for consistent growth and profitability.
For those interested in tracking OPRX’s performance, HoldingsChannel.com provides up-to-date information on other hedge funds holding OPRX along with insider trades and latest 13F filings.
Despite uncertainties surrounding OPRX’s future performance given current market conditions and investor sentiment trends, it remains an intriguing investment opportunity for those looking for exposure to an innovative healthcare technology company poised for growth and expansion in coming years.
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Hedge funds and Institutional Investors Show Increased Interest in OptimizeRx Corp.’s EHR Workflow Solutions
OptimizeRx Corp., a digital health company that provides electronic health record (EHR) workflow solutions, saw changes in the stakes of various hedge funds and other institutional investors earlier this year. Dimensional Fund Advisors LP increased its stake in the company by 32.8% in the fourth quarter, owning 86,991 shares worth $1,461,000 after purchasing an additional 21,500 shares. Citigroup Inc. also raised its stake by 11.7%, owning 16,562 shares worth $278,000 after buying an additional 1,734 shares last quarter. Meanwhile, UBS Group AG lifted its stake by 164.0%, with 5,272 shares worth $89,000 bought in Q4 of 2022.
Furthermore, Swiss National Bank purchased an additional 1,400 shares in the final quarter of last year increasing their total stockholding to 39,200 shares at a value of $659k. Finally,Russell Investments Group Ltd. purchased a new position worth about $410k in Q4 of last year.This means that hedge funds and other institutional investors now own roughly over than80% of OptimizeRx’s stocks.
Shares of OPRX opened at $14.04 on Thursday with a low of $11.59 and a high of$30.82in the past year.The company’s50-day simple moving average stands at$14.08while the two-hundred day simple moving average shows$16.47.
Recent research reports show that several equities financial analysts have aired their respective opinions on OPRX shares.Working from Bloomberg data,the firm has garnered an average ratingof“Moderate Buy”andanaverage target priceofaround$21.Many equity market researchershave weighed up OptimizeRx Co.’s expected potential withinthe market.
OptimizeRx Corp.specializes indigital messaging via EHRs allowing pharmaceutical companies to directly communicate with healthcare providers. ItsEHR workflow solutionsinclude financial messaging, patient education, and brand support. While the company has witnessed changes in its stakeholding due to hedge funds and other institutional investors, this may not necessarily be of significant concern as the stakeholders believe in the firm’s future growth potential within digital health services.