Definitive Healthcare (NASDAQ:DH) Reaches New 52-Week Low After Analyst Downgrade

Definitive Healthcare Corp. (NASDAQ:DH) shares reached a new 52-week low on Wednesday after Stifel Nicolaus lowered their price target on the stock from $11.00 to $9.50. Stifel Nicolaus currently has a buy rating on the stock. Definitive Healthcare traded as low as $4.38 and last traded at $4.89, with a volume of 1416771 shares. The stock had previously closed at $7.25.

Other equities analysts also recently issued reports about the company. Canaccord Genuity Group lifted their target price on Definitive Healthcare from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Thursday, February 29th. Morgan Stanley lowered Definitive Healthcare from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $11.50 to $9.00 in a research report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Definitive Healthcare in a research note on Wednesday. Finally, Barclays boosted their price target 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 assigned a buy rating to the stock. According to data from MarketBeat.com, Definitive Healthcare presently has an average rating of “Hold” and an average price target of $11.06.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Conestoga Capital Advisors LLC lifted its stake in Definitive Healthcare by 1.3% in the 1st quarter. Conestoga Capital Advisors LLC now owns 5,595,627 shares of the company’s stock worth $45,157,000 after acquiring an additional 74,490 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Definitive Healthcare by 6.2% in the third 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Definitive Healthcare by 76.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,466,514 shares of the company’s stock worth $34,457,000 after purchasing an additional 1,496,652 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of 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 worth $8,710,000 after purchasing an additional 113,963 shares during the period. Finally, Raymond James & Associates grew its position in Definitive Healthcare by 41.6% during the first quarter. Raymond James & Associates now owns 844,814 shares of the company’s stock valued at $6,818,000 after purchasing an additional 248,266 shares in the last quarter. 98.67% of the stock is owned by hedge funds and other institutional investors.

Definitive Healthcare Trading Down 30.3 %

The company’s 50 day simple moving average is $7.78 and its two-hundred day simple moving average is $8.31. The stock has a market cap of $594.84 million, a price-to-earnings ratio of -2.92, a price-to-earnings-growth ratio of 6.12 and a beta of 1.41. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.31 and a current ratio of 2.31.

Definitive Healthcare (NASDAQ:DH) last posted its quarterly earnings results 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 firm had revenue of $65.93 million for 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%. Research analysts expect that Definitive Healthcare Corp. will post 0.11 EPS for the current fiscal year.

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.