Cantor Fitzgerald reaffirmed their buy rating on shares of Tabula Rasa HealthCare (NASDAQ:TRHC) in a research report report published on Tuesday. Cantor Fitzgerald currently has a $99.00 target price on the stock.
“. We reiterate our Overweight rating and $99 12-month price target on TRHC shares. Rasa reported solid third quarter results, which were generally above our estimates and FactSet consensus. The company’s top-line beat was driven by recent acquisitions and higher pharmacy cost management (PCM) revenue due to a change regarding TRHC’s data aggregation partner. The company’s recent acquisitions contributed modestly to revenue. While TRHC provided general comments regarding 2019, it did not provide full guidance.”,” the firm’s analyst wrote.
A number of other brokerages have also recently issued reports on TRHC. Stifel Nicolaus began coverage on shares of Tabula Rasa HealthCare in a report on Tuesday, September 11th. They issued a hold rating and a $95.00 target price on the stock. BidaskClub cut shares of Tabula Rasa HealthCare from a strong-buy rating to a buy rating in a report on Saturday, September 15th. Oppenheimer raised their target price on shares of Tabula Rasa HealthCare from $65.00 to $86.00 and gave the stock an outperform rating in a report on Thursday, August 23rd. Robert W. Baird lifted their price target on Tabula Rasa HealthCare from $70.00 to $90.00 and gave the company an outperform rating in a report on Wednesday, September 19th. Finally, Citigroup lifted their price target on Tabula Rasa HealthCare to $100.00 and gave the company a buy rating in a report on Thursday, October 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $81.60.
Tabula Rasa HealthCare (NASDAQ:TRHC) last issued its earnings results on Tuesday, November 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.07. Tabula Rasa HealthCare had a negative net margin of 13.49% and a positive return on equity of 7.63%. The firm had revenue of $54.42 million for the quarter, compared to analysts’ expectations of $52.87 million. During the same quarter last year, the company posted $0.08 earnings per share. Tabula Rasa HealthCare’s revenue was up 66.3% on a year-over-year basis. As a group, equities research analysts expect that Tabula Rasa HealthCare will post 0.52 earnings per share for the current year.
In other news, President Orsula V. Knowlton sold 8,000 shares of Tabula Rasa HealthCare stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $72.23, for a total transaction of $577,840.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 48,000 shares of company stock worth $3,722,960. Corporate insiders own 14.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TRHC. Wells Fargo & Company MN raised its holdings in shares of Tabula Rasa HealthCare by 10.2% during the first quarter. Wells Fargo & Company MN now owns 17,743 shares of the company’s stock valued at $689,000 after buying an additional 1,643 shares during the last quarter. Northern Trust Corp increased its stake in shares of Tabula Rasa HealthCare by 35.4% during the first quarter. Northern Trust Corp now owns 149,391 shares of the company’s stock valued at $5,797,000 after acquiring an additional 39,096 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Tabula Rasa HealthCare during the first quarter valued at approximately $672,000. Principal Financial Group Inc. acquired a new position in shares of Tabula Rasa HealthCare during the first quarter valued at approximately $3,870,000. Finally, UBS Group AG increased its stake in shares of Tabula Rasa HealthCare by 1,403.7% during the first quarter. UBS Group AG now owns 32,676 shares of the company’s stock valued at $1,268,000 after acquiring an additional 30,503 shares during the period. 75.88% of the stock is currently owned by institutional investors.
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.
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