Zacks Investment Research cut shares of Tabula Rasa Healthcare Inc. (NASDAQ:TRHC) from a strong-buy rating to a hold rating in a research report released on Friday morning.
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 brokerages have also recently issued reports on TRHC. First Analysis assumed coverage on shares of Tabula Rasa Healthcare in a report on Wednesday, November 1st. They issued an overweight rating and a $41.00 target price for the company. Piper Jaffray Companies restated an overweight rating and issued a $35.00 target price on shares of Tabula Rasa Healthcare in a report on Tuesday, November 7th. They noted that the move was a valuation call. ValuEngine upgraded shares of Tabula Rasa Healthcare from a sell rating to a hold rating in a report on Saturday, September 30th. Wells Fargo & Company upped their target price on shares of Tabula Rasa Healthcare from $21.00 to $27.00 and gave the company a market perform rating in a report on Thursday, October 19th. Finally, Robert W. Baird restated an outperform rating and issued a $30.00 target price (up previously from $22.00) on shares of Tabula Rasa Healthcare in a report on Tuesday, October 17th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Tabula Rasa Healthcare currently has a consensus rating of Buy and a consensus price target of $28.25.
Shares of Tabula Rasa Healthcare (NASDAQ:TRHC) opened at $29.08 on Friday. Tabula Rasa Healthcare has a 52-week low of $10.51 and a 52-week high of $31.05. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.66 and a current ratio of 0.73.
Tabula Rasa Healthcare (NASDAQ:TRHC) last issued its earnings results on Monday, November 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. Tabula Rasa Healthcare had a negative net margin of 2.27% and a negative return on equity of 5.58%. The business had revenue of $33.27 million during the quarter, compared to analysts’ expectations of $31.76 million. During the same quarter in the prior year, the business posted $0.06 EPS. The company’s revenue for the quarter was up 37.6% on a year-over-year basis. analysts expect that Tabula Rasa Healthcare will post 0.05 EPS for the current year.
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In related news, CEO Calvin H. Knowlton sold 8,000 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $17.21, for a total transaction of $137,680.00. Following the completion of the sale, the chief executive officer now owns 918,362 shares in the company, valued at approximately $15,805,010.02. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 24,000 shares of company stock valued at $527,920. 45.80% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Allianz Asset Management GmbH acquired a new stake in Tabula Rasa Healthcare during the 3rd quarter worth $3,801,000. Pier Capital LLC acquired a new stake in Tabula Rasa Healthcare during the 3rd quarter worth $4,151,000. Schwab Charles Investment Management Inc. boosted its stake in Tabula Rasa Healthcare by 69.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 18,300 shares of the company’s stock worth $490,000 after purchasing an additional 7,500 shares during the period. Wells Fargo & Company MN boosted its stake in Tabula Rasa Healthcare by 79.8% during the 3rd quarter. Wells Fargo & Company MN now owns 12,768 shares of the company’s stock worth $341,000 after purchasing an additional 5,668 shares during the period. Finally, Cadence Capital Management LLC boosted its stake in Tabula Rasa Healthcare by 328.1% during the 3rd quarter. Cadence Capital Management LLC now owns 59,724 shares of the company’s stock worth $1,597,000 after purchasing an additional 45,774 shares during the period. Hedge funds and other institutional investors own 25.80% 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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