Definitive Healthcare (NASDAQ:DH) Sees Large Volume Increase

Definitive Healthcare Corp. (NASDAQ:DH) saw unusually-high trading volume on Thursday . Approximately 2,154,914 shares were traded during mid-day trading, an increase of 243% from the previous session’s volume of 628,710 shares.The stock last traded at $5.05 and had previously closed at $5.35.

Analyst Ratings Changes

Several research firms have recently commented on DH. Stifel Nicolaus reduced their price target on shares of Definitive Healthcare from $11.00 to $9.50 and set a “buy” rating for the company in a research report on Wednesday. Canaccord Genuity Group dropped their price target on shares of Definitive Healthcare from $10.00 to $8.00 and set a “hold” rating on the stock in a research note on Wednesday. Morgan Stanley lowered Definitive Healthcare from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $11.50 to $9.00 in a research note on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Definitive Healthcare in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Definitive Healthcare from $10.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $9.94.

Definitive Healthcare Price Performance

The stock has a 50 day moving average of $7.70 and a 200-day moving average of $8.29. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $608.97 million, a P/E ratio of -2.86, a price-to-earnings-growth ratio of 6.12 and a beta of 1.41.

Definitive Healthcare (NASDAQ:DH) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The business had revenue of $65.93 million during the quarter, compared to analysts’ expectations of $66.01 million. Definitive Healthcare had a positive return on equity of 0.43% and a negative net margin of 80.40%. On average, equities research analysts anticipate that Definitive Healthcare Corp. will post 0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its position in Definitive Healthcare by 11.7% during the third quarter. Bank of New York Mellon Corp now owns 1,090,136 shares of the company’s stock valued at $8,710,000 after buying an additional 113,963 shares during the period. Vanguard Group Inc. raised its holdings in Definitive Healthcare by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,331,543 shares of the company’s stock worth $34,609,000 after purchasing an additional 254,726 shares during the period. Eagle Asset Management Inc. boosted its position in Definitive Healthcare by 7.5% during the third quarter. Eagle Asset Management Inc. now owns 784,230 shares of the company’s stock worth $6,266,000 after purchasing an additional 54,590 shares in the last quarter. Raymond James & Associates grew its holdings in Definitive Healthcare by 24.2% in the third quarter. Raymond James & Associates now owns 650,327 shares of the company’s stock valued at $5,196,000 after purchasing an additional 126,613 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Definitive Healthcare by 68.4% in the third quarter. Victory Capital Management Inc. now owns 269,433 shares of the company’s stock valued at $2,153,000 after buying an additional 109,463 shares in the last quarter. Hedge funds and other institutional investors 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.