Definitive Healthcare (NASDAQ:DH) Stock Price Up 8.4% – Time to Buy?

Definitive Healthcare Corp. (NASDAQ:DH)’s share price traded up 8.4% during mid-day trading on Friday . The stock traded as high as $4.70 and last traded at $4.67. 124,458 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 745,816 shares. The stock had previously closed at $4.31.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Definitive Healthcare from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $7.00 to $5.00 in a research note on Wednesday, July 31st. Needham & Company LLC reissued a “hold” rating on shares of Definitive Healthcare in a research note on Friday. Deutsche Bank Aktiengesellschaft lowered their price objective on Definitive Healthcare from $7.00 to $5.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Stifel Nicolaus reduced their target price on Definitive Healthcare from $9.50 to $7.50 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, BTIG Research assumed coverage on shares of Definitive Healthcare in a report on Tuesday, September 17th. They set a “buy” rating and a $7.00 price target for the company. 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.81.

Definitive Healthcare Price Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 2.40. The business’s fifty day moving average price is $4.36 and its 200-day moving average price is $5.00. The stock has a market capitalization of $500.02 million, a price-to-earnings ratio of -1.22, a PEG ratio of 6.27 and a beta of 1.33.

Institutional Investors Weigh In On Definitive Healthcare

Several institutional investors and hedge funds have recently added to or reduced their stakes in DH. Vanguard Group Inc. increased its holdings in Definitive Healthcare by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,535,377 shares of the company’s stock worth $36,600,000 after buying an additional 67,068 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Definitive Healthcare by 28.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,426,420 shares of the company’s stock valued at $24,168,000 after acquiring an additional 976,279 shares during the period. Millennium Management LLC purchased a new stake in shares of Definitive Healthcare during the 2nd quarter worth approximately $9,283,000. Granite Investment Partners LLC raised its holdings in shares of Definitive Healthcare by 22.5% in the 2nd quarter. Granite Investment Partners LLC now owns 884,872 shares of the company’s stock worth $4,831,000 after purchasing an additional 162,432 shares during the period. Finally, 272 Capital LP purchased a new position in Definitive Healthcare in the second quarter valued at approximately $3,480,000. Hedge funds and other institutional investors own 98.67% of the company’s stock.

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.