Definitive Healthcare (NASDAQ:DH) Downgraded by Morgan Stanley to “Equal Weight”

Definitive Healthcare (NASDAQ:DH) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report released on Wednesday, Marketbeat.com reports. They presently have a $9.00 price objective on the stock, down from their prior price objective of $11.50. Morgan Stanley’s price target indicates a potential upside of 24.14% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of Definitive Healthcare from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, January 17th. Needham & Company LLC lowered shares of Definitive Healthcare from a “buy” rating to a “hold” rating in a report on Wednesday, January 17th. Canaccord Genuity Group upped their price objective on shares of Definitive Healthcare from $9.00 to $10.00 and gave the company a “hold” rating in a report on Thursday, February 29th. Finally, Barclays upped their price objective on shares of Definitive Healthcare from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Friday, March 1st. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.25.

Definitive Healthcare Price Performance

DH stock opened at $7.25 on Wednesday. The firm has a market cap of $853.98 million, a price-to-earnings ratio of -4.07, a PEG ratio of 6.12 and a beta of 1.41. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.20. Definitive Healthcare has a 12-month low of $5.53 and a 12-month high of $12.45. The company’s fifty day simple moving average is $7.78 and its 200 day simple moving average is $8.31.

Definitive Healthcare (NASDAQ:DH) last released its earnings results on Wednesday, February 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.02). The firm had revenue of $65.93 million during the quarter, compared to analyst estimates of $66.01 million. Definitive Healthcare had a negative net margin of 80.40% and a positive return on equity of 0.43%. On average, analysts expect that Definitive Healthcare will post 0.11 earnings per share for the current year.

Institutional Investors Weigh In On Definitive Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA boosted its stake in shares of Definitive Healthcare by 76.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,466,514 shares of the company’s stock worth $34,457,000 after buying an additional 1,496,652 shares during the last quarter. Conestoga Capital Advisors LLC boosted its position in Definitive Healthcare by 12.1% in the fourth quarter. Conestoga Capital Advisors LLC now owns 5,521,137 shares of the company’s stock worth $54,880,000 after purchasing an additional 595,280 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Definitive Healthcare by 6.2% during the 3rd quarter. Vanguard Group Inc. now owns 4,331,543 shares of the company’s stock valued at $34,609,000 after purchasing an additional 254,726 shares during the last quarter. Raymond James & Associates raised its stake in shares of Definitive Healthcare by 41.6% during the 1st quarter. Raymond James & Associates now owns 844,814 shares of the company’s stock worth $6,818,000 after purchasing an additional 248,266 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Definitive Healthcare by 11.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,090,136 shares of the company’s stock worth $8,710,000 after buying an additional 113,963 shares during the last quarter. 98.67% of the stock is owned by institutional investors.

Definitive Healthcare Company Profile

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.