Zacks Investment Research upgraded shares of Tabula Rasa HealthCare (NASDAQ:TRHC) from a hold rating to a strong-buy rating in a research report sent to investors on Friday morning, Zacks.com reports. The firm currently has $72.00 target price on the stock.
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. “
Several other equities research analysts have also recently weighed in on the company. Cantor Fitzgerald restated a buy rating and set a $99.00 target price on shares of Tabula Rasa HealthCare in a research note on Monday, May 13th. BidaskClub upgraded Tabula Rasa HealthCare from a buy rating to a strong-buy rating in a research note on Tuesday. Piper Jaffray Companies increased their price target on Tabula Rasa HealthCare from $73.00 to $78.00 and gave the company an overweight rating in a research note on Thursday, May 9th. TheStreet cut Tabula Rasa HealthCare from a c- rating to a d+ rating in a research note on Tuesday, June 11th. Finally, ValuEngine upgraded Tabula Rasa HealthCare from a hold rating to a buy rating in a research note on Thursday, July 11th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $83.12.
Tabula Rasa HealthCare (NASDAQ:TRHC) last released its earnings results on Thursday, August 8th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.29. Tabula Rasa HealthCare had a positive return on equity of 3.63% and a negative net margin of 7.09%. The firm had revenue of $76.26 million during the quarter, compared to analysts’ expectations of $70.40 million. During the same period in the prior year, the company earned $0.20 earnings per share. The company’s quarterly revenue was up 56.9% on a year-over-year basis. As a group, sell-side analysts expect that Tabula Rasa HealthCare will post -0.14 earnings per share for the current year.
In related news, Director Gordon Tunstall sold 1,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $62.64, for a total value of $62,640.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Calvin H. Knowlton sold 8,000 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $44.08, for a total value of $352,640.00. The disclosure for this sale can be found here. Insiders sold a total of 53,000 shares of company stock valued at $2,800,120 over the last quarter. 11.80% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Peregrine Capital Management LLC increased its holdings in Tabula Rasa HealthCare by 20.7% in the second quarter. Peregrine Capital Management LLC now owns 335,984 shares of the company’s stock valued at $16,776,000 after purchasing an additional 57,639 shares during the period. Virginia Retirement Systems ET AL increased its holdings in Tabula Rasa HealthCare by 169.1% in the first quarter. Virginia Retirement Systems ET AL now owns 14,800 shares of the company’s stock valued at $835,000 after purchasing an additional 9,300 shares during the period. First Mercantile Trust Co. increased its holdings in Tabula Rasa HealthCare by 64.5% in the first quarter. First Mercantile Trust Co. now owns 995 shares of the company’s stock valued at $56,000 after purchasing an additional 390 shares during the period. Rice Hall James & Associates LLC acquired a new stake in Tabula Rasa HealthCare in the first quarter valued at $9,923,000. Finally, Handelsbanken Fonder AB acquired a new stake in Tabula Rasa HealthCare in the second quarter valued at $6,241,000. Institutional investors and hedge funds own 91.24% of the company’s stock.
Tabula Rasa HealthCare Company Profile
Tabula Rasa HealthCare, Inc operates as a healthcare technology company in the field of medication safety in the United States. The company's proprietary Medication Risk Mitigation Matrix delivers a multi-drug review, which identifies medication-related risks. Its cloud-based software applications include EireneRx, a medication decision-support and e-prescribing platform to access patients' medication-related information; and MedWise that provides medication decision support components for clients seeking to manage their medication risk and improve medication outcomes, and patient relationships by enhancing their existing systems.
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