Short Interest in Definitive Healthcare Corp. (NASDAQ:DH) Drops By 10.0%

Definitive Healthcare Corp. (NASDAQ:DH) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 2,890,000 shares, a drop of 10.0% from the August 15th total of 3,210,000 shares. Currently, 5.9% of the company’s stock are short sold. Based on an average daily volume of 984,200 shares, the short-interest ratio is presently 2.9 days.

Institutional Investors Weigh In On Definitive Healthcare

Institutional investors have recently bought and sold shares of the business. Norden Group LLC purchased a new stake in Definitive Healthcare in the 1st quarter worth $83,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Definitive Healthcare during the first quarter valued at about $120,000. Sanctuary Advisors LLC purchased a new position in shares of Definitive Healthcare during the second quarter valued at about $85,000. Canada Pension Plan Investment Board purchased a new position in shares of Definitive Healthcare during the second quarter valued at about $109,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Definitive Healthcare by 31.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,292 shares of the company’s stock valued at $116,000 after purchasing an additional 5,083 shares in the last quarter. Hedge funds and other institutional investors own 98.67% of the company’s stock.

Definitive Healthcare Stock Performance

Definitive Healthcare stock traded down $0.18 during trading on Wednesday, reaching $4.56. The company had a trading volume of 578,270 shares, compared to its average volume of 827,679. Definitive Healthcare has a 52 week low of $3.19 and a 52 week high of $10.62. The firm’s 50-day simple moving average is $4.65 and its 200 day simple moving average is $5.91. The firm has a market capitalization of $537.78 million, a price-to-earnings ratio of -2.61, a price-to-earnings-growth ratio of 6.38 and a beta of 1.33. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.27.

Definitive Healthcare (NASDAQ:DH) last announced its earnings results on Monday, August 5th. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. Definitive Healthcare had a positive return on equity of 0.98% and a negative net margin of 156.65%. The company had revenue of $63.70 million for the quarter, compared to analysts’ expectations of $63.19 million. During the same period last year, the firm earned $0.08 EPS. Definitive Healthcare’s revenue for the quarter was up 4.4% compared to the same quarter last year. Sell-side analysts forecast that Definitive Healthcare will post 0.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on DH shares. Deutsche Bank Aktiengesellschaft cut their target price on Definitive Healthcare from $7.00 to $5.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Barclays lowered their price target on Definitive Healthcare from $6.00 to $4.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 7th. BTIG Research started coverage on Definitive Healthcare in a report on Tuesday. They set a “buy” rating and a $7.00 price target on the stock. Robert W. Baird lowered their price target on Definitive Healthcare from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Definitive Healthcare in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Definitive Healthcare presently has a consensus rating of “Hold” and a consensus price target of $5.81.

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.