Zacks Investment Research Downgrades Tabula Rasa Healthcare Inc. (TRHC) to Hold

Tabula Rasa Healthcare Inc. (NASDAQ:TRHC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Friday.

According to Zacks, “Tabula Rasa HealthCare, Inc. is a provider of patient-specific, data-driven technology and solutions which enable healthcare organizations to optimize medication regimens to improve patient outcomes, reduce hospitalizations, lower healthcare costs and manage risk. The company’s cloud-based software applications including EireneRx and MedWise Advisor which provide solutions to payers, providers and other healthcare organizations. Tabula Rasa HealthCare, Inc. is based in NJ, United States. “

A number of other analysts have also recently commented on the stock. Piper Jaffray Companies reaffirmed a “buy” rating and set a $29.00 price target on shares of Tabula Rasa Healthcare in a research report on Tuesday, October 24th. Robert W. Baird reaffirmed an “outperform” rating and set a $30.00 price target (up previously from $22.00) on shares of Tabula Rasa Healthcare in a research report on Tuesday, October 17th. Stifel Nicolaus reissued a “buy” rating and set a $16.00 price objective on shares of Tabula Rasa Healthcare in a research report on Friday, July 14th. UBS AG increased their price objective on shares of Tabula Rasa Healthcare from $18.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, August 30th. Finally, Wells Fargo & Company cut shares of Tabula Rasa Healthcare from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $17.00 to $21.00 in a research report on Thursday, September 7th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $28.25.

Shares of Tabula Rasa Healthcare (NASDAQ:TRHC) traded down $1.00 on Friday, reaching $28.07. 54,200 shares of the company’s stock were exchanged, compared to its average volume of 97,007. The company has a current ratio of 1.24, a quick ratio of 0.99 and a debt-to-equity ratio of 0.01. Tabula Rasa Healthcare has a twelve month low of $10.51 and a twelve month high of $31.05.

Tabula Rasa Healthcare (NASDAQ:TRHC) last issued its quarterly earnings results on Monday, November 6th. The company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.02. The business had revenue of $33.27 million for the quarter, compared to analysts’ expectations of $31.76 million. Tabula Rasa Healthcare had a negative net margin of 2.27% and a negative return on equity of 6.09%. The business’s quarterly revenue was up 37.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 earnings per share. sell-side analysts predict that Tabula Rasa Healthcare will post 0.05 EPS for the current year.

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In related news, insider Orsula V. Knowlton sold 8,000 shares of the company’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $26.68, for a total value of $213,440.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 24,000 shares of company stock worth $527,920 in the last 90 days. 45.80% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of TRHC. Wasatch Advisors Inc. acquired a new stake in shares of Tabula Rasa Healthcare in the 3rd quarter worth about $4,047,000. EAM Investors LLC acquired a new stake in shares of Tabula Rasa Healthcare in the 3rd quarter worth about $3,931,000. Paradigm Capital Management Inc. NY acquired a new stake in shares of Tabula Rasa Healthcare in the 2nd quarter worth about $1,165,000. Hood River Capital Management LLC raised its holdings in shares of Tabula Rasa Healthcare by 7.5% in the 2nd quarter. Hood River Capital Management LLC now owns 825,225 shares of the company’s stock worth $12,420,000 after acquiring an additional 57,724 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Tabula Rasa Healthcare by 97.4% in the 2nd quarter. Northern Trust Corp now owns 95,862 shares of the company’s stock worth $1,443,000 after acquiring an additional 47,306 shares during the last quarter. Institutional investors own 27.93% of the company’s stock.

Tabula Rasa Healthcare Company Profile

Tabula Rasa HealthCare, Inc (Tabula Rasa), formerly CareKinesis, Inc, is a provider of patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize medication regimens to improve patient outcomes, reduce hospitalizations and manage risk. The Company delivers its solutions through a suite of technology-enabled products and services for medication risk management, which includes bundled prescription fulfillment and adherence packaging services for client populations with complex prescription needs.

Analyst Recommendations for Tabula Rasa Healthcare (NASDAQ:TRHC)

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