Definitive Healthcare (NASDAQ:DH) Shares Up 8.4% – Here’s Why

Shares of Definitive Healthcare Corp. (NASDAQ:DH) were up 8.4% during trading on Friday . The stock traded as high as $4.70 and last traded at $4.67. Approximately 124,458 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 745,816 shares. The stock had previously closed at $4.31.

Analysts Set New Price Targets

DH has been the subject of a number of recent research reports. Stifel Nicolaus cut their target price on shares of Definitive Healthcare from $9.50 to $7.50 and set a “buy” rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. downgraded shares of Definitive Healthcare from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $7.00 to $5.00 in a report on Wednesday, July 31st. Barclays reduced their price objective on Definitive Healthcare from $6.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 7th. Morgan Stanley lowered their price objective on Definitive Healthcare from $9.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. Finally, BTIG Research started coverage on Definitive Healthcare in a report on Tuesday, September 17th. They set a “buy” rating and a $7.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $5.81.

Definitive Healthcare Stock Down 3.9 %

The business’s 50-day simple moving average is $4.37 and its 200 day simple moving average is $5.04. The firm has a market cap of $488.25 million, a PE ratio of -1.34, a P/E/G ratio of 5.95 and a beta of 1.33. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.27.

Definitive Healthcare (NASDAQ:DH) last released its quarterly earnings results on Monday, August 5th. The company reported $0.09 EPS for the quarter, hitting 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 during the quarter, compared to analyst estimates of $63.19 million. During the same period in the previous year, the company posted $0.08 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities research analysts expect that Definitive Healthcare Corp. will post 0.07 earnings per share for the current year.

Institutional Trading of Definitive Healthcare

A number of institutional investors have recently made changes to their positions in DH. Vanguard Group Inc. grew its position in Definitive Healthcare by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 4,535,377 shares of the company’s stock worth $36,600,000 after purchasing an additional 67,068 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Definitive Healthcare by 28.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,426,420 shares of the company’s stock worth $24,168,000 after buying an additional 976,279 shares during the period. Millennium Management LLC purchased a new stake in shares of Definitive Healthcare during the second quarter valued at $9,283,000. Granite Investment Partners LLC increased its position in shares of Definitive Healthcare by 22.5% in the 2nd quarter. Granite Investment Partners LLC now owns 884,872 shares of the company’s stock valued at $4,831,000 after acquiring an additional 162,432 shares during the period. Finally, 272 Capital LP purchased a new position in Definitive Healthcare in the 2nd quarter worth $3,480,000. Institutional investors and hedge funds own 98.67% of the company’s stock.

About Definitive Healthcare

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.