5 New Stock Picks of Billionaire Ray Dalio

3. OptimizeRx Corporation (NASDAQ:OPRX)

Number of Hedge Fund Holders: 13

OptimizeRx Corporation (NASDAQ:OPRX) is a digital solutions firm that provides services to the health industry. Securities filings show that Bridgewater Associates owned 28,550 shares in the company at the end of the third quarter of 2021 worth $2.4 million, representing 0.01% of the portfolio. 

Roth Capital analyst Richard Baldry has a Buy rating on OptimizeRx Corporation (NASDAQ:OPRX) stock with a price target of $112. In an investor note penned on November 10, the analyst highlighted a “growing pipeline of opportunities” for the firm in the months ahead.

At the end of the second quarter of 2021, 13 hedge funds in the database of Insider Monkey held stakes worth $66 million in OptimizeRx Corporation (NASDAQ:OPRX), up from 11 in the previous quarter worth $48 million.

In its Q3 2021 investor letter, Wasatch Advisors, an asset management firm, highlighted a few stocks and OptimizeRx Corporation (NASDAQ:OPRX) was one of them. Here is what the fund said:

“Fund holding OptimizeRX Corp. (OPRX) was up during the quarter too. The company provides digital-marketing services for pharmaceutical and other health-care-related businesses. In 2019, the company’s stock price fell based on a decline in revenue, which was partly due to the delayed digital-advertising spending of two large pharmaceutical-business clients that merged. Back then, we continued to like OptimizeRX because we were impressed with the company’s cost-effective program to engage patients, enhance their health-care experiences and improve outcomes. Our willingness to stay the course has now been rewarded with a large gain in the stock based on the revenue and earnings growth we had correctly anticipated in 2019. OptimizeRX is currently under review due to our concern that the valuation may have gotten a bit ahead of fundamentals.”