Jacobi Capital Management LLC bought a new position in shares of OptimizeRx Co. (NASDAQ:OPRX) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 700 shares of the company’s stock, valued at approximately $34,000.
Several other hedge funds have also recently bought and sold shares of the business. New York State Common Retirement Fund grew its holdings in shares of OptimizeRx by 882.6% during the 1st quarter. New York State Common Retirement Fund now owns 137,567 shares of the company’s stock worth $6,706,000 after acquiring an additional 123,567 shares during the period. Peregrine Capital Management LLC purchased a new position in shares of OptimizeRx during the 1st quarter worth approximately $11,483,000. Vontobel Holding Ltd. purchased a new position in shares of OptimizeRx during the 1st quarter worth approximately $637,000. Artisan Partners Limited Partnership purchased a new stake in shares of OptimizeRx in the 1st quarter worth approximately $37,653,000. Finally, Russell Investments Group Ltd. grew its stake in shares of OptimizeRx by 51.1% in the 1st quarter. Russell Investments Group Ltd. now owns 77,052 shares of the company’s stock worth $3,754,000 after buying an additional 26,050 shares during the last quarter. Hedge funds and other institutional investors own 64.72% of the company’s stock.
OPRX has been the topic of several recent research reports. B. Riley upped their price target on OptimizeRx from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, May 7th. Zacks Investment Research upgraded OptimizeRx from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Saturday, May 22nd. Roth Capital upped their price target on OptimizeRx from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, February 25th. Finally, Royal Bank of Canada initiated coverage on OptimizeRx in a research note on Monday, April 12th. They issued an “outperform” rating and a $65.00 price target on the stock. Five analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus target price of $67.80.
In related news, President Miriam J. Paramore sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, May 17th. The stock was sold at an average price of $42.95, for a total value of $644,250.00. Following the transaction, the president now directly owns 9,079 shares of the company’s stock, valued at approximately $389,943.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William J. Febbo sold 80,000 shares of the company’s stock in a transaction that occurred on Thursday, March 25th. The shares were sold at an average price of $46.10, for a total value of $3,688,000.00. Following the completion of the transaction, the chief executive officer now directly owns 273,278 shares in the company, valued at $12,598,115.80. The disclosure for this sale can be found here. Insiders sold a total of 138,909 shares of company stock worth $6,411,280 over the last ninety days. 8.10% of the stock is currently owned by insiders.
OptimizeRx Corporation operates as a digital health company that provides communications solutions for life science companies, physicians, and patients. Its products and applications include financial messaging, a virtual patient support center that allows doctors and staff to access sample vouchers, co-pay coupons, and other patient support through their EMR and/or e-prescribe systems; and brand awareness and therapeutic support messaging services, such as brand awareness messages, reminder ads, therapeutic support messages, and unbranded messages.
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