Robert W. Baird restated their outperform rating on shares of Tabula Rasa Healthcare Inc. (NASDAQ:TRHC) in a research note published on Tuesday, October 17th. The firm currently has a $30.00 target price on the stock, up from their previous target price of $22.00.
Other analysts have also issued reports about the company. Chardan Capital started coverage on Tabula Rasa Healthcare in a report on Monday, July 10th. They issued a buy rating and a $19.50 price objective for the company. UBS AG upped their price target on Tabula Rasa Healthcare from $18.00 to $25.00 and gave the company a buy rating in a report on Wednesday, August 30th. Wells Fargo & Company cut Tabula Rasa Healthcare from an outperform rating to a market perform rating and upped their price target for the company from $17.00 to $21.00 in a report on Thursday, September 7th. ValuEngine raised shares of Tabula Rasa Healthcare from a sell rating to a hold rating in a research note on Saturday, September 30th. Finally, Piper Jaffray Companies reissued an overweight rating and set a $20.00 target price (up from $19.00) on shares of Tabula Rasa Healthcare in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $27.50.
Tabula Rasa Healthcare (NASDAQ:TRHC) remained flat at $$28.26 on Tuesday. The company’s stock had a trading volume of 47,180 shares, compared to its average volume of 78,552. The company has a current ratio of 1.24, a quick ratio of 0.99 and a debt-to-equity ratio of 0.01.
Tabula Rasa Healthcare (NASDAQ:TRHC) last released its quarterly earnings data on Monday, August 7th. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $29.70 million for the quarter, compared to analyst estimates of $27.84 million. Tabula Rasa Healthcare had a negative return on equity of 9.58% and a negative net margin of 10.27%. Tabula Rasa Healthcare’s revenue for the quarter was up 32.6% compared to the same quarter last year. equities research analysts forecast that Tabula Rasa Healthcare will post 0.07 earnings per share for the current fiscal year.
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In related news, insider Orsula V. Knowlton sold 8,000 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $22.10, for a total value of $176,800.00. Following the completion of the sale, the insider now directly owns 887,407 shares in the company, valued at $19,611,694.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 24,000 shares of company stock valued at $527,920 over the last quarter. 45.80% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Icon Advisers Inc. Co. bought a new stake in Tabula Rasa Healthcare in the second quarter worth $684,000. Intrinsic Edge Capital Management LLC bought a new stake in Tabula Rasa Healthcare during the second quarter valued at about $461,000. Paradigm Capital Management Inc. NY bought a new stake in Tabula Rasa Healthcare during the second quarter valued at about $1,165,000. Wellington Management Group LLP boosted its holdings in Tabula Rasa Healthcare by 37.2% during the first quarter. Wellington Management Group LLP now owns 782,142 shares of the company’s stock valued at $10,544,000 after acquiring an additional 212,164 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Tabula Rasa Healthcare by 58.1% during the second quarter. Russell Investments Group Ltd. now owns 94,089 shares of the company’s stock valued at $1,415,000 after acquiring an additional 34,565 shares during the period. Hedge funds and other institutional investors own 27.93% 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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