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.
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