Zacks Investment Research upgraded shares of Tabula Rasa HealthCare (NASDAQ:TRHC) from a sell rating to a buy rating in a research note released on Thursday. Zacks Investment Research currently has $69.00 price target on the stock.
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. “
Other analysts have also issued research reports about the stock. BidaskClub upgraded shares of Tabula Rasa HealthCare from a hold rating to a buy rating in a research report on Wednesday, November 28th. Citigroup raised their price target on shares of Tabula Rasa HealthCare to $100.00 and gave the company a buy rating in a research report on Thursday, October 11th. Piper Jaffray Companies restated an overweight rating and set a $80.00 price target on shares of Tabula Rasa HealthCare in a research report on Thursday, December 6th. Robert W. Baird increased their price objective on shares of Tabula Rasa HealthCare from $70.00 to $90.00 and gave the company an outperform rating in a report on Wednesday, September 19th. Finally, Benchmark assumed coverage on shares of Tabula Rasa HealthCare in a report on Tuesday, January 8th. They set a buy rating and a $85.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $82.27.
Tabula Rasa HealthCare (NASDAQ:TRHC) last released its quarterly earnings results on Tuesday, November 6th. The company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.07. The company had revenue of $54.42 million for the quarter, compared to analyst estimates of $52.87 million. Tabula Rasa HealthCare had a negative net margin of 13.49% and a positive return on equity of 7.63%. The firm’s revenue was up 66.3% on a year-over-year basis. During the same quarter last year, the business earned $0.08 earnings per share. Research analysts predict that Tabula Rasa HealthCare will post 0.42 earnings per share for the current year.
In other Tabula Rasa HealthCare news, President Orsula V. Knowlton sold 8,000 shares of the stock in a transaction on Wednesday, October 17th. The shares were sold at an average price of $81.01, for a total transaction of $648,080.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Orsula V. Knowlton acquired 7,500 shares of the firm’s stock in a transaction on Monday, November 12th. The shares were bought at an average cost of $65.00 per share, for a total transaction of $487,500.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 63,790 shares of company stock worth $4,409,251. Insiders own 14.00% of the company’s stock.
Large investors have recently bought and sold shares of the company. Citadel Advisors LLC lifted its stake in shares of Tabula Rasa HealthCare by 47.0% in the second quarter. Citadel Advisors LLC now owns 8,855 shares of the company’s stock worth $565,000 after buying an additional 2,832 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Tabula Rasa HealthCare by 29.7% in the second quarter. BlackRock Inc. now owns 2,119,507 shares of the company’s stock worth $135,288,000 after buying an additional 484,979 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Tabula Rasa HealthCare by 43.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 35,800 shares of the company’s stock worth $2,286,000 after buying an additional 10,900 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of Tabula Rasa HealthCare in the third quarter worth about $535,000. Finally, Metropolitan Life Insurance Co. NY lifted its stake in shares of Tabula Rasa HealthCare by 63.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 5,770 shares of the company’s stock worth $368,000 after buying an additional 2,243 shares in the last quarter. 74.87% of the stock is currently owned by hedge funds and other institutional investors.
About Tabula Rasa HealthCare
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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