Taylor Wealth Management Partners Increases Stake in OptimizeRx Co. (NASDAQ:OPRX)

Taylor Wealth Management Partners grew its stake in shares of OptimizeRx Co. (NASDAQ:OPRX) by 3.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,833 shares of the company’s stock after buying an additional 686 shares during the period. Taylor Wealth Management Partners owned 0.12% of OptimizeRx worth $1,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Eaton Vance Management purchased a new position in OptimizeRx during the first quarter valued at $31,000. Jacobi Capital Management LLC purchased a new position in shares of OptimizeRx during the first quarter valued at about $34,000. Altshuler Shaham Ltd bought a new stake in shares of OptimizeRx in the first quarter worth about $41,000. FORA Capital LLC purchased a new stake in shares of OptimizeRx in the first quarter worth about $48,000. Finally, HighMark Wealth Management LLC boosted its stake in OptimizeRx by 2,188.6% during the second quarter. HighMark Wealth Management LLC now owns 1,007 shares of the company’s stock valued at $62,000 after buying an additional 963 shares during the last quarter. 67.39% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CFO Douglas P. Baker sold 13,435 shares of the firm’s stock in a transaction that occurred on Thursday, July 8th. The stock was sold at an average price of $56.05, for a total transaction of $753,031.75. Following the completion of the sale, the chief financial officer now directly owns 69,361 shares of the company’s stock, valued at approximately $3,887,684.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen L. Silvestro sold 13,242 shares of the firm’s stock in a transaction dated Tuesday, July 20th. The stock was sold at an average price of $50.34, for a total transaction of $666,602.28. Following the completion of the transaction, the insider now directly owns 13,242 shares in the company, valued at approximately $666,602.28. The disclosure for this sale can be found here. Insiders sold a total of 93,350 shares of company stock worth $5,607,519 over the last three months. 6.50% of the stock is currently owned by corporate insiders.

NASDAQ:OPRX traded up $0.45 during midday trading on Wednesday, hitting $73.60. 421 shares of the company traded hands, compared to its average volume of 210,828. The firm has a market capitalization of $1.30 billion, a P/E ratio of 613.83 and a beta of 0.66. The firm’s fifty day moving average is $61.75 and its 200-day moving average is $54.73. OptimizeRx Co. has a 12-month low of $17.01 and a 12-month high of $73.88.

OptimizeRx (NASDAQ:OPRX) last posted its quarterly earnings data on Wednesday, August 4th. The company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.08. The business had revenue of $13.63 million for the quarter, compared to analysts’ expectations of $12.35 million. OptimizeRx had a net margin of 3.98% and a return on equity of 2.26%. On average, analysts anticipate that OptimizeRx Co. will post 0.3 earnings per share for the current fiscal year.

Several analysts have recently issued reports on OPRX shares. B. Riley upped their price objective on OptimizeRx from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, August 5th. Zacks Investment Research downgraded shares of OptimizeRx from a “buy” rating to a “hold” rating in a research note on Thursday, July 8th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $70.80.

OptimizeRx Profile

OptimizeRx Corp. is digital health company, which engages in the provision of digital health messaging via electronic health records, which serves as a direct channel for pharmaceutical companies to communicate with healthcare providers. It offers electronic health record (EHR) workflow solutions which include financial messaging, patient education, and brand messaging; and brand support.

Further Reading: Liquidity

Institutional Ownership by Quarter for OptimizeRx (NASDAQ:OPRX)

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