OptimizeRx Co. (NASDAQ:OPRX) Expected to Post Q3 2019 Earnings of $0.06 Per Share
OptimizeRx Co. (NASDAQ:OPRX) – Investment analysts at B. Riley cut their Q3 2019 earnings per share estimates for shares of OptimizeRx in a research note issued on Thursday, August 8th. B. Riley analyst A. D’silva now expects that the company will post earnings of $0.06 per share for the quarter, down from their previous forecast of $0.08. B. Riley also issued estimates for OptimizeRx’s Q4 2019 earnings at $0.11 EPS and FY2021 earnings at $0.69 EPS.
Separately, Zacks Investment Research downgraded OptimizeRx from a “buy” rating to a “hold” rating in a research note on Friday, August 9th.
OptimizeRx (NASDAQ:OPRX) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.03. The firm had revenue of $7.01 million during the quarter, compared to the consensus estimate of $6.78 million. OptimizeRx had a return on equity of 2.89% and a net margin of 2.27%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in shares of OptimizeRx in the second quarter valued at approximately $51,000. BlackRock Inc. acquired a new stake in shares of OptimizeRx in the fourth quarter valued at approximately $55,000. Atlantic Trust LLC acquired a new stake in shares of OptimizeRx in the second quarter valued at approximately $126,000. Westwood Management Corp IL acquired a new stake in shares of OptimizeRx in the first quarter valued at approximately $127,000. Finally, Wells Fargo & Company MN lifted its position in shares of OptimizeRx by 9.5% in the second quarter. Wells Fargo & Company MN now owns 13,562 shares of the company’s stock valued at $219,000 after buying an additional 1,180 shares during the last quarter. 49.56% of the stock is owned by institutional investors.
OptimizeRx Corporation provides digital health messaging services for pharmaceutical companies to communicate with healthcare providers. The company's cloud-based solutions support patient adherence to medications by providing real-time access to financial assistance, prior authorization, education, and critical clinical information; and network consists of electronic health records platforms, which provide the ambulatory patient market with access to their workflow at the point-of-care.
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