Tabula Rasa HealthCare (NASDAQ:TRHC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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 analysts have also recently issued reports on the stock. Chardan Capital raised their target price on shares of Tabula Rasa HealthCare from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday. Citigroup initiated coverage on shares of Tabula Rasa HealthCare in a research note on Thursday, January 4th. They set a “buy” rating for the company. William Blair restated an “outperform” rating on shares of Tabula Rasa HealthCare in a research note on Tuesday. BidaskClub cut shares of Tabula Rasa HealthCare from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 6th. Finally, Oppenheimer initiated coverage on shares of Tabula Rasa HealthCare in a research note on Monday, December 18th. They set an “outperform” rating and a $35.00 target price for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. Tabula Rasa HealthCare currently has an average rating of “Buy” and an average target price of $36.40.
Shares of Tabula Rasa HealthCare (NASDAQ TRHC) opened at $35.78 on Friday. The company has a market cap of $672.85, a price-to-earnings ratio of 51.86, a price-to-earnings-growth ratio of 7.47 and a beta of 3.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.21 and a quick ratio of 0.66. Tabula Rasa HealthCare has a 12 month low of $11.59 and a 12 month high of $39.81.
Tabula Rasa HealthCare (NASDAQ:TRHC) last announced its quarterly earnings results on Monday, March 12th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). The firm had revenue of $43.93 million during the quarter, compared to analyst estimates of $38.91 million. Tabula Rasa HealthCare had a net margin of 10.63% and a negative return on equity of 1.96%. The business’s revenue was up 60.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 EPS. equities research analysts expect that Tabula Rasa HealthCare will post 0.18 EPS for the current year.
In related news, CEO Calvin H. Knowlton sold 8,000 shares of the firm’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $32.75, for a total transaction of $262,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Bruce Luehrs sold 16,745 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $37.63, for a total transaction of $630,114.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 311,766 shares of company stock valued at $10,797,424. 45.80% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its position in Tabula Rasa HealthCare by 79.8% during the third 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 period. JPMorgan Chase & Co. bought a new position in Tabula Rasa HealthCare during the third quarter worth about $563,000. EAM Investors LLC increased its position in Tabula Rasa HealthCare by 21.5% during the fourth quarter. EAM Investors LLC now owns 178,588 shares of the company’s stock worth $5,009,000 after acquiring an additional 31,596 shares during the period. Vanguard Group Inc. increased its holdings in Tabula Rasa HealthCare by 13.4% in the 2nd quarter. Vanguard Group Inc. now owns 236,964 shares of the company’s stock valued at $3,566,000 after buying an additional 27,997 shares during the period. Finally, Quadrant Private Wealth Management LLC bought a new position in Tabula Rasa HealthCare in the 4th quarter valued at about $569,000. 53.03% of the stock is currently owned by institutional investors and hedge funds.
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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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