Zacks Investment Research upgraded shares of Tabula Rasa HealthCare (NASDAQ:TRHC) from a hold rating to a strong-buy rating in a report published on Friday morning, Zacks.com reports. The brokerage currently has $72.00 price objective 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. “
A number of other equities research analysts have also recently commented on TRHC. Piper Jaffray Companies increased their price objective on shares of Tabula Rasa HealthCare from $73.00 to $78.00 and gave the company an overweight rating in a research note on Thursday, May 9th. TheStreet cut shares of Tabula Rasa HealthCare from a c- rating to a d+ rating in a research note on Tuesday, June 11th. Cantor Fitzgerald reissued a buy rating and issued a $99.00 price objective on shares of Tabula Rasa HealthCare in a research note on Monday, May 13th. ValuEngine raised shares of Tabula Rasa HealthCare from a hold rating to a buy rating in a research note on Thursday, July 11th. Finally, BidaskClub raised shares of Tabula Rasa HealthCare from a buy rating to a strong-buy rating in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the stock. Tabula Rasa HealthCare presently has a consensus rating of Buy and an average target price of $83.12.
Tabula Rasa HealthCare (NASDAQ:TRHC) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.29. Tabula Rasa HealthCare had a negative net margin of 7.09% and a positive return on equity of 3.63%. The business had revenue of $76.26 million for the quarter, compared to analysts’ expectations of $70.40 million. During the same period in the prior year, the company posted $0.20 EPS. The business’s revenue for the quarter was up 56.9% on a year-over-year basis. Equities analysts anticipate that Tabula Rasa HealthCare will post -0.14 earnings per share for the current year.
In other Tabula Rasa HealthCare news, President Orsula V. Knowlton sold 8,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $56.23, for a total value of $449,840.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gordon Tunstall sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $62.64, for a total transaction of $62,640.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,000 shares of company stock worth $2,800,120. 11.80% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Intrinsic Edge Capital Management LLC lifted its holdings in Tabula Rasa HealthCare by 173.3% in the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 358,673 shares of the company’s stock valued at $17,909,000 after purchasing an additional 227,453 shares in the last quarter. Royal Bank of Canada lifted its holdings in Tabula Rasa HealthCare by 250.7% in the 2nd quarter. Royal Bank of Canada now owns 3,812 shares of the company’s stock valued at $191,000 after purchasing an additional 2,725 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in Tabula Rasa HealthCare in the 2nd quarter valued at about $3,398,000. Price T Rowe Associates Inc. MD lifted its holdings in Tabula Rasa HealthCare by 18.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,315,216 shares of the company’s stock valued at $65,669,000 after purchasing an additional 202,683 shares in the last quarter. Finally, Centaurus Financial Inc. lifted its holdings in Tabula Rasa HealthCare by 16.8% in the 2nd quarter. Centaurus Financial Inc. now owns 3,965 shares of the company’s stock valued at $198,000 after purchasing an additional 571 shares in the last quarter. Institutional investors own 95.61% of the company’s stock.
Tabula Rasa HealthCare Company Profile
Tabula Rasa HealthCare, Inc operates as a healthcare technology company in the field of medication safety in the United States. The company's proprietary Medication Risk Mitigation Matrix delivers a multi-drug review, which identifies medication-related risks. Its cloud-based software applications include EireneRx, a medication decision-support and e-prescribing platform to access patients' medication-related information; and MedWise that provides medication decision support components for clients seeking to manage their medication risk and improve medication outcomes, and patient relationships by enhancing their existing systems.
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