Zacks Investment Research Lowers Tabula Rasa HealthCare (TRHC) to Sell

Tabula Rasa HealthCare (NASDAQ:TRHC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Saturday, March 17th.

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. “

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A number of other brokerages have also issued reports on TRHC. BidaskClub lowered shares of Tabula Rasa HealthCare from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 6th. William Blair began coverage on shares of Tabula Rasa HealthCare in a research report on Monday, December 11th. They set an “outperform” rating on the stock. Oppenheimer began coverage on shares of Tabula Rasa HealthCare in a research report on Monday, December 18th. They set an “outperform” rating and a $35.00 target price on the stock. Citigroup initiated coverage on shares of Tabula Rasa HealthCare in a research report on Thursday, January 4th. They set a “buy” rating on the stock. Finally, Piper Jaffray increased their price target on shares of Tabula Rasa HealthCare to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $36.40.

Shares of TRHC stock traded up $0.24 on Friday, reaching $39.18. The stock had a trading volume of 571,040 shares, compared to its average volume of 624,948. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.01. Tabula Rasa HealthCare has a 12 month low of $11.59 and a 12 month high of $41.83.

Tabula Rasa HealthCare (NASDAQ:TRHC) last released its quarterly earnings results on Monday, March 12th. The company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.03). The company had revenue of $43.93 million during the quarter, compared to the consensus estimate of $38.91 million. Tabula Rasa HealthCare had a net margin of 10.63% and a negative return on equity of 1.96%. The firm’s revenue was up 60.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 earnings per share. sell-side analysts forecast that Tabula Rasa HealthCare will post 0.18 earnings per share for the current fiscal year.

In other news, CEO Calvin H. Knowlton sold 8,000 shares of the firm’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce Luehrs sold 252,242 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $34.29, for a total transaction of $8,649,378.18. The disclosure for this sale can be found here. Insiders sold 324,000 shares of company stock worth $11,262,438 in the last 90 days. Company insiders own 45.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Hood River Capital Management LLC raised its stake in shares of Tabula Rasa HealthCare by 17.1% during the fourth quarter. Hood River Capital Management LLC now owns 883,290 shares of the company’s stock valued at $24,776,000 after acquiring an additional 129,031 shares during the last quarter. Ranger Investment Management L.P. raised its stake in Tabula Rasa HealthCare by 896.7% during the fourth quarter. Ranger Investment Management L.P. now owns 777,341 shares of the company’s stock worth $21,804,000 after buying an additional 699,352 shares during the last quarter. BlackRock Inc. raised its stake in Tabula Rasa HealthCare by 2.9% during the fourth quarter. BlackRock Inc. now owns 425,027 shares of the company’s stock worth $11,922,000 after buying an additional 12,121 shares during the last quarter. Jennison Associates LLC raised its stake in Tabula Rasa HealthCare by 3.5% during the fourth quarter. Jennison Associates LLC now owns 412,387 shares of the company’s stock worth $11,567,000 after buying an additional 13,932 shares during the last quarter. Finally, UBS Asset Management Americas Inc. bought a new position in Tabula Rasa HealthCare during the fourth quarter worth $9,559,000. 47.28% 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.

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