Tabula Rasa HealthCare Inc (TRHC) Rating Lowered to Sell at Zacks Investment Research

Tabula Rasa HealthCare Inc (NASDAQ:TRHC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

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. “

TRHC has been the topic of several other research reports. Stifel Nicolaus lifted their price objective on Tabula Rasa HealthCare from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, March 14th. Robert W. Baird set a $17.00 price objective on Tabula Rasa HealthCare and gave the stock a “buy” rating in a report on Thursday, January 19th. Finally, Piper Jaffray Companies lifted their price objective on Tabula Rasa HealthCare from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, March 14th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $17.50.

Shares of Tabula Rasa HealthCare (NASDAQ:TRHC) traded down 3.48% during midday trading on Friday, reaching $13.02. The company’s stock had a trading volume of 52,199 shares. The company has a 50-day moving average price of $13.38 and a 200-day moving average price of $13.54. Tabula Rasa HealthCare has a 12 month low of $10.39 and a 12 month high of $16.85. The firm’s market cap is $222.29 million.

Tabula Rasa HealthCare (NASDAQ:TRHC) last released its quarterly earnings results on Monday, March 13th. The company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.01. The business earned $27.30 million during the quarter, compared to analyst estimates of $25.53 million. The company’s quarterly revenue was up 37.9% on a year-over-year basis. Equities analysts expect that Tabula Rasa HealthCare will post $0.41 earnings per share for the current year.

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Hedge funds have recently bought and sold shares of the company. Cortina Asset Management LLC boosted its stake in Tabula Rasa HealthCare by 16.9% in the fourth quarter. Cortina Asset Management LLC now owns 440,685 shares of the company’s stock valued at $6,601,000 after buying an additional 63,627 shares during the last quarter. State Street Corp acquired a new stake in Tabula Rasa HealthCare during the fourth quarter valued at about $611,000. Russell Investments Group Ltd. acquired a new stake in Tabula Rasa HealthCare during the fourth quarter valued at about $875,000. Sio Capital Management LLC acquired a new stake in Tabula Rasa HealthCare during the third quarter valued at about $7,303,000. Finally, Laurion Capital Management LP acquired a new stake in Tabula Rasa HealthCare during the third quarter valued at about $430,000. 23.79% of the stock is currently owned by institutional investors.

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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