Tabula Rasa HealthCare (NASDAQ:TRHC) Stock Rating Reaffirmed by Citigroup

Tabula Rasa HealthCare (NASDAQ:TRHC)‘s stock had its “buy” rating restated by investment analysts at Citigroup in a report issued on Wednesday, May 9th. They presently have a $57.00 price objective on the stock. Citigroup’s target price would indicate a potential upside of 13.12% from the company’s previous close.

A number of other research firms also recently weighed in on TRHC. Piper Jaffray reiterated an “overweight” rating and issued a $46.00 price target on shares of Tabula Rasa HealthCare in a research report on Wednesday, May 9th. ValuEngine upgraded shares of Tabula Rasa HealthCare from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. William Blair reiterated an “outperform” rating on shares of Tabula Rasa HealthCare in a research report on Tuesday, March 13th. Zacks Investment Research upgraded shares of Tabula Rasa HealthCare from a “hold” rating to a “strong-buy” rating and set a $38.00 price target for the company in a research report on Thursday, January 11th. Finally, CIBC reiterated an “outperform” rating and issued a $47.00 price target (up from $35.00) on shares of Tabula Rasa HealthCare in a research report on Tuesday, March 13th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $39.91.

Shares of TRHC stock opened at $50.39 on Wednesday. The company has a current ratio of 0.45, a quick ratio of 0.41 and a debt-to-equity ratio of 0.01. Tabula Rasa HealthCare has a 12-month low of $47.61 and a 12-month high of $48.69.

Tabula Rasa HealthCare (NASDAQ:TRHC) last issued its quarterly earnings data on Tuesday, May 8th. The company reported $0.10 earnings per share (EPS) for the quarter. The firm had revenue of $43.94 million during the quarter, compared to the consensus estimate of $42.60 million. Tabula Rasa HealthCare had a negative net margin of 0.61% and a positive return on equity of 0.38%. The business’s revenue for the quarter was up 57.0% compared to the same quarter last year. During the same period last year, the business posted $0.08 earnings per share. equities research analysts expect that Tabula Rasa HealthCare will post 0.45 EPS for the current year.

In other Tabula Rasa HealthCare news, Director Bruce Luehrs sold 252,242 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $34.29, for a total transaction of $8,649,378.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Calvin H. Knowlton sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $35.59, for a total transaction of $284,720.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 424,000 shares of company stock valued at $16,211,222. Company insiders own 14.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in TRHC. Bank of New York Mellon Corp raised its position in Tabula Rasa HealthCare by 43.2% during the third quarter. Bank of New York Mellon Corp now owns 27,802 shares of the company’s stock valued at $743,000 after purchasing an additional 8,390 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in Tabula Rasa HealthCare during the third quarter valued at approximately $563,000. Wells Fargo & Company MN raised its position in Tabula Rasa HealthCare by 79.8% during the third quarter. Wells Fargo & Company MN now owns 12,768 shares of the company’s stock valued at $341,000 after purchasing an additional 5,668 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Tabula Rasa HealthCare by 69.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 18,300 shares of the company’s stock valued at $490,000 after purchasing an additional 7,500 shares in the last quarter. Finally, California Public Employees Retirement System acquired a new position in Tabula Rasa HealthCare during the third quarter valued at approximately $254,000. Institutional investors and hedge funds own 49.48% of the company’s stock.

Tabula Rasa HealthCare Company Profile

Tabula Rasa HealthCare, Inc operates as a healthcare technology company in the United States. It offers medication risk management, pharmacy cost management, and medicare risk adjustment services. The company offers its technology-enabled products and services to prescribers, pharmacists, and healthcare organizations for medication risk management and risk adjustment.

Analyst Recommendations for Tabula Rasa HealthCare (NASDAQ:TRHC)

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