OppenheimerFunds Inc. purchased a new stake in shares of Tabula Rasa HealthCare Inc (NASDAQ:TRHC) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,936 shares of the company’s stock, valued at approximately $463,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of TRHC. BlackRock Inc. boosted its position in Tabula Rasa HealthCare by 284.6% during the first quarter. BlackRock Inc. now owns 1,634,528 shares of the company’s stock valued at $63,419,000 after purchasing an additional 1,209,501 shares during the last quarter. Ranger Investment Management L.P. boosted its position 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 valued at $21,804,000 after purchasing an additional 699,352 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new position in Tabula Rasa HealthCare during the fourth quarter valued at approximately $9,559,000. Castleark Management LLC acquired a new position in Tabula Rasa HealthCare during the fourth quarter valued at approximately $6,393,000. Finally, Braun Stacey Associates Inc. acquired a new position in Tabula Rasa HealthCare during the first quarter valued at approximately $3,907,000. 63.91% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on the company. Robert W. Baird increased their price target on Tabula Rasa HealthCare from $50.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, June 18th. MED raised their price objective on Tabula Rasa HealthCare from $47.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, May 21st. Chardan Capital raised their price objective on Tabula Rasa HealthCare from $50.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, May 18th. Zacks Investment Research raised Tabula Rasa HealthCare from a “sell” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Tuesday, May 15th. Finally, Citigroup reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Tabula Rasa HealthCare in a research report on Wednesday, May 9th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Tabula Rasa HealthCare currently has a consensus rating of “Buy” and an average price target of $46.25.
TRHC opened at $64.01 on Friday. Tabula Rasa HealthCare Inc has a 12-month low of $12.63 and a 12-month high of $66.19. The company has a market capitalization of $1.29 billion, a PE ratio of -1,600.25, a price-to-earnings-growth ratio of 5.75 and a beta of 2.66. The company has a quick ratio of 0.41, a current ratio of 0.45 and a debt-to-equity ratio of 0.01.
Tabula Rasa HealthCare (NASDAQ:TRHC) last announced its earnings results on Tuesday, May 8th. The company reported $0.10 earnings per share for the quarter. The company had revenue of $43.94 million for the quarter, compared to analyst estimates of $42.60 million. Tabula Rasa HealthCare had a positive return on equity of 0.38% and a negative net margin of 0.61%. The firm’s quarterly revenue was up 57.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.08 earnings per share. equities research analysts anticipate that Tabula Rasa HealthCare Inc will post 0.45 earnings per share for the current fiscal year.
In other news, CEO Calvin H. Knowlton sold 8,000 shares of the stock in a transaction that occurred on Monday, April 9th. The stock was sold at an average price of $38.69, for a total transaction of $309,520.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bruce Luehrs sold 85,842 shares of the stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $50.66, for a total value of $4,348,755.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 225,842 shares of company stock worth $11,152,820. 14.00% of the stock is owned by corporate insiders.
Tabula Rasa HealthCare Company Profile
Tabula Rasa HealthCare, Inc operates as a healthcare technology company in the United States. It offers medication risk management, pharmacy cost management, and medicare risk adjustment services. The company offers its technology-enabled products and services to prescribers, pharmacists, and healthcare organizations for medication risk management and risk adjustment.
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