OptimizeRx Co. (NASDAQ:OPRX) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in OptimizeRx Co. (NASDAQ:OPRX) by 9.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 111,719 shares of the company’s stock after acquiring an additional 10,041 shares during the quarter. Bank of New York Mellon Corp owned about 0.61% of OptimizeRx worth $1,117,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Millrace Asset Group Inc. purchased a new position in OptimizeRx during the fourth quarter worth about $1,917,000. G2 Investment Partners Management LLC lifted its holdings in OptimizeRx by 26.0% in the fourth quarter. G2 Investment Partners Management LLC now owns 468,120 shares of the company’s stock valued at $6,699,000 after acquiring an additional 96,646 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in OptimizeRx in the first quarter worth approximately $1,053,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in OptimizeRx in the first quarter worth approximately $542,000. Finally, Blair William & Co. IL increased its stake in OptimizeRx by 5.6% during the first quarter. Blair William & Co. IL now owns 782,573 shares of the company’s stock worth $9,508,000 after acquiring an additional 41,469 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

OptimizeRx Price Performance

Shares of NASDAQ:OPRX opened at $7.88 on Friday. OptimizeRx Co. has a 1 year low of $6.92 and a 1 year high of $16.65. 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 50-day moving average is $8.87 and its two-hundred day moving average is $10.54.

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. B. Riley began coverage on OptimizeRx in a report on Thursday, July 25th. They set a “buy” rating and a $18.50 price target for the company. Royal Bank of Canada dropped their price target on shares of OptimizeRx from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday, August 16th. Barclays decreased their price objective 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. Finally, JMP Securities reiterated a “market outperform” rating and issued a $16.00 target price on shares of OptimizeRx in a report on Friday, June 21st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

OptimizeRx Company 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.