Definitive Healthcare (NASDAQ:DH) Reaches New 1-Year Low on Analyst Downgrade

Posted by on May 6th, 2023

Definitive Healthcare Corp. (NASDAQ:DH – Get Rating)’s share price hit a new 52-week low on Friday after Robert W. Baird lowered their price target on the stock from $15.00 to $13.00. The company traded as low as $8.71 and last traded at $9.58, with a volume of 81707 shares changing hands. The stock had previously closed at $9.90.

A number of other equities analysts have also recently issued reports on DH. William Blair initiated coverage on shares of Definitive Healthcare in a research note on Wednesday, April 19th. They issued an “outperform” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Definitive Healthcare in a research note on Friday, February 24th. Credit Suisse Group reduced their price objective on shares of Definitive Healthcare from $19.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, February 24th. Finally, Morgan Stanley reduced their price objective on shares of Definitive Healthcare from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 28th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.43.

Hedge Funds Weigh In On Definitive Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ensign Peak Advisors Inc bought a new stake in Definitive Healthcare in the 3rd quarter valued at $53,000. PNC Financial Services Group Inc. lifted its position in Definitive Healthcare by 34.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,092 shares of the company’s stock valued at $56,000 after acquiring an additional 1,309 shares in the last quarter. Steph & Co. lifted its position in Definitive Healthcare by 35.5% in the 4th quarter. Steph & Co. now owns 5,619 shares of the company’s stock valued at $62,000 after acquiring an additional 1,471 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Definitive Healthcare in the 3rd quarter valued at $81,000. Finally, Tower Research Capital LLC TRC lifted its position in Definitive Healthcare by 223.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,710 shares of the company’s stock valued at $89,000 after acquiring an additional 3,943 shares in the last quarter.

Definitive Healthcare Stock Up 3.1 %

The firm has a market capitalization of $1.12 billion, a P/E ratio of -102.09, a PEG ratio of 29.72 and a beta of 0.51. The firm’s 50-day moving average is $10.87 and its 200 day moving average is $11.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.12 and a current ratio of 3.12.

Definitive Healthcare (NASDAQ:DH – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.02. Definitive Healthcare had a negative net margin of 2.71% and a positive return on equity of 0.35%. The firm had revenue of $60.60 million for the quarter, compared to analyst estimates of $58.61 million. As a group, equities research analysts predict that Definitive Healthcare Corp. will post 0.02 EPS for the current fiscal year.

Definitive Healthcare Company Profile

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Definitive Healthcare Corp., together with its subsidiaries, provides healthcare commercial intelligence in the United States. Its solutions provide information on healthcare providers and their activities to help its customers in the area ranging from product development to go-to-market planning, and sales and marketing execution.

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