Fred Alger Management LLC Trims Stake in Definitive Healthcare Corp. (NASDAQ:DH)

Fred Alger Management LLC lowered its holdings in Definitive Healthcare Corp. (NASDAQ:DH) by 19.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,777,867 shares of the company’s stock after selling 437,978 shares during the period. Fred Alger Management LLC owned approximately 1.51% of Definitive Healthcare worth $9,707,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Norden Group LLC purchased a new position in Definitive Healthcare in the first quarter worth $83,000. Canada Pension Plan Investment Board purchased a new position in shares of Definitive Healthcare in the 2nd quarter worth about $109,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Definitive Healthcare by 31.4% during the 2nd 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 during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Definitive Healthcare during the 1st quarter valued at about $120,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in shares of Definitive Healthcare during the 2nd quarter valued at about $127,000. Institutional investors own 98.67% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Stifel Nicolaus reduced their price target on shares of Definitive Healthcare from $9.50 to $7.50 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Definitive Healthcare from $7.00 to $5.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. BTIG Research began coverage on shares of Definitive Healthcare in a research report on Tuesday, September 17th. They set a “buy” rating and a $7.00 price target for the company. JPMorgan Chase & Co. downgraded Definitive Healthcare from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $7.00 to $5.00 in a report on Wednesday, July 31st. Finally, Barclays lowered their target price on Definitive Healthcare from $6.00 to $4.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Definitive Healthcare currently has an average rating of “Hold” and a consensus target price of $5.81.

Definitive Healthcare Stock Performance

Definitive Healthcare stock opened at $4.23 on Thursday. Definitive Healthcare Corp. has a 1-year low of $3.19 and a 1-year high of $10.62. The firm has a market cap of $498.87 million, a P/E ratio of -2.42, a P/E/G ratio of 6.49 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. The firm has a 50-day moving average of $4.53 and a 200-day moving average of $5.77.

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

Definitive Healthcare Profile

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.