Tabula Rasa HealthCare (NASDAQ:TRHC) Earns Outperform Rating from Analysts at Oppenheimer

Oppenheimer started coverage on shares of Tabula Rasa HealthCare (NASDAQ:TRHC) in a research note issued to investors on Monday, December 18th. The firm issued an outperform rating and a $35.00 price objective on the stock.

A number of other equities research analysts have also commented on the company. BidaskClub lowered Tabula Rasa HealthCare from a buy rating to a hold rating in a research report on Friday, December 15th. William Blair began coverage on Tabula Rasa HealthCare in a research report on Monday, December 11th. They issued an outperform rating on the stock. Zacks Investment Research lowered Tabula Rasa HealthCare from a strong-buy rating to a hold rating in a research report on Friday, November 10th. Piper Jaffray Companies reiterated an overweight rating and issued a $35.00 target price on shares of Tabula Rasa HealthCare in a research report on Tuesday, November 7th. They noted that the move was a valuation call. Finally, First Analysis began coverage on Tabula Rasa HealthCare in a research report on Wednesday, November 1st. They issued an overweight rating and a $41.00 target price on the stock. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $29.78.

Shares of Tabula Rasa HealthCare (TRHC) traded up $0.30 during trading on Monday, reaching $33.16. 223,203 shares of the company’s stock were exchanged, compared to its average volume of 231,850. Tabula Rasa HealthCare has a fifty-two week low of $11.59 and a fifty-two week high of $36.80. The company has a market capitalization of $630.32 and a P/E ratio of -195.06. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.73 and a quick ratio of 0.66.

Tabula Rasa HealthCare (NASDAQ:TRHC) last issued its quarterly earnings results on Monday, November 6th. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. Tabula Rasa HealthCare had a negative return on equity of 5.58% and a negative net margin of 2.27%. The business had revenue of $33.27 million for the quarter, compared to analyst estimates of $31.76 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The company’s revenue was up 37.6% on a year-over-year basis. equities research analysts predict that Tabula Rasa HealthCare will post 0.03 EPS for the current year.

In related news, Director Bruce Luehrs sold 269,000 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $25.85, for a total value of $6,953,650.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Growth Fund 1Q Lp Originate sold 684,180 shares of the stock in a transaction on Monday, December 11th. The shares were sold at an average price of $25.85, for a total value of $17,686,053.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,107,180 shares of company stock worth $28,697,203. Insiders own 45.80% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Paradigm Capital Management Inc. NY increased its stake in shares of Tabula Rasa HealthCare by 3.4% in the 3rd quarter. Paradigm Capital Management Inc. NY now owns 80,000 shares of the company’s stock worth $2,139,000 after acquiring an additional 2,644 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Tabula Rasa HealthCare by 108.5% in the 1st quarter. TIAA CREF Investment Management LLC now owns 8,131 shares of the company’s stock worth $110,000 after acquiring an additional 4,232 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Tabula Rasa HealthCare by 79.8% in the 3rd quarter. Wells Fargo & Company MN now owns 12,768 shares of the company’s stock worth $341,000 after acquiring an additional 5,668 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Tabula Rasa HealthCare by 60.2% in the 2nd quarter. California State Teachers Retirement System now owns 16,500 shares of the company’s stock worth $248,000 after acquiring an additional 6,200 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Tabula Rasa HealthCare by 47.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 19,412 shares of the company’s stock worth $293,000 after acquiring an additional 6,228 shares during the last quarter. 31.85% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Tabula Rasa HealthCare (NASDAQ:TRHC)

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