Tabula Rasa HealthCare Inc (TRHC) 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. “

A number of other research firms have also recently issued reports on TRHC. Stifel Nicolaus increased their target price on Tabula Rasa HealthCare from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, March 14th. Robert W. Baird set a $17.00 target price on Tabula Rasa HealthCare and gave the stock a “buy” rating in a research note on Thursday, January 19th. Finally, Piper Jaffray Companies raised their price target on shares of Tabula Rasa HealthCare from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 14th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $17.50.

Tabula Rasa HealthCare (NASDAQ:TRHC) traded down 3.48% during midday trading on Friday, reaching $13.02. 52,199 shares of the company were exchanged. The firm’s market cap is $222.29 million. Tabula Rasa HealthCare has a one year low of $10.39 and a one year high of $16.85. The firm’s 50-day moving average is $13.38 and its 200-day moving average is $13.54.

Tabula Rasa HealthCare (NASDAQ:TRHC) last posted its earnings results on Monday, March 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by $0.01. The company earned $27.30 million during the quarter, compared to analyst estimates of $25.53 million. Tabula Rasa HealthCare’s revenue was up 37.9% compared to the same quarter last year. On average, equities analysts expect that Tabula Rasa HealthCare will post $0.41 EPS for the current fiscal year.

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Several institutional investors have recently modified their holdings of TRHC. Sio Capital Management LLC acquired a new position in shares of Tabula Rasa HealthCare during the third quarter valued at $7,303,000. Cortina Asset Management LLC boosted its position in shares of 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 in the last quarter. Monashee Investment Management LLC acquired a new position in shares of Tabula Rasa HealthCare during the third quarter valued at $4,296,000. Emerald Advisers Inc. PA acquired a new position in shares of Tabula Rasa HealthCare during the third quarter valued at $3,989,000. Finally, Wells Fargo & Company MN acquired a new position in shares of Tabula Rasa HealthCare during the third quarter valued at $3,738,000. 23.79% of the stock is owned by institutional investors.

About Tabula Rasa HealthCare

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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