$29.67 Million in Sales Expected for Tabula Rasa Healthcare Inc. (TRHC) This Quarter
Wall Street brokerages expect Tabula Rasa Healthcare Inc. (NASDAQ:TRHC) to post $29.67 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Tabula Rasa Healthcare’s earnings, with the lowest sales estimate coming in at $29.54 million and the highest estimate coming in at $29.80 million. Tabula Rasa Healthcare reported sales of $24.17 million in the same quarter last year, which indicates a positive year-over-year growth rate of 22.8%. The business is scheduled to issue its next earnings report on Wednesday, November 8th.
According to Zacks, analysts expect that Tabula Rasa Healthcare will report full year sales of $29.67 million for the current year, with estimates ranging from $117.80 million to $118.00 million. For the next year, analysts forecast that the company will report sales of $143.66 million per share, with estimates ranging from $142.00 million to $144.97 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Tabula Rasa Healthcare.
Tabula Rasa Healthcare (NASDAQ:TRHC) last posted its quarterly earnings results on Monday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. Tabula Rasa Healthcare had a negative return on equity of 9.58% and a negative net margin of 10.27%. The business had revenue of $29.70 million for the quarter, compared to analyst estimates of $27.84 million. Tabula Rasa Healthcare’s quarterly revenue was up 32.6% compared to the same quarter last year.
A number of analysts recently weighed in on TRHC shares. UBS AG increased their price objective on Tabula Rasa Healthcare from $18.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, August 30th. Chardan Capital increased their price objective on Tabula Rasa Healthcare from $19.50 to $21.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. Stifel Nicolaus restated a “buy” rating and issued a $16.00 price objective on shares of Tabula Rasa Healthcare in a report on Friday, July 14th. Zacks Investment Research upgraded Tabula Rasa Healthcare from a “sell” rating to a “hold” rating in a report on Tuesday, May 16th. Finally, Wells Fargo & Company downgraded Tabula Rasa Healthcare from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $17.00 to $21.00 in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $19.43.
In other Tabula Rasa Healthcare news, CEO Calvin H. Knowlton sold 8,000 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $17.21, for a total transaction of $137,680.00. Following the completion of the sale, the chief executive officer now directly owns 918,362 shares in the company, valued at approximately $15,805,010.02. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gordon Tunstall sold 22,759 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $13.76, for a total value of $313,163.84. Following the sale, the director now owns 5,565 shares of the company’s stock, valued at $76,574.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,759 shares of company stock valued at $676,604. Company insiders own 45.80% of the company’s stock.
Institutional investors have recently modified their holdings of the business. TIAA CREF Investment Management LLC grew its holdings in Tabula Rasa Healthcare by 108.5% during the 1st quarter. TIAA CREF Investment Management LLC now owns 8,131 shares of the company’s stock worth $110,000 after acquiring an additional 4,232 shares during the period. New York State Common Retirement Fund grew its holdings in Tabula Rasa Healthcare by 257.0% during the 2nd quarter. New York State Common Retirement Fund now owns 10,000 shares of the company’s stock worth $151,000 after acquiring an additional 7,199 shares during the period. Bank of New York Mellon Corp acquired a new stake in Tabula Rasa Healthcare during the 1st quarter worth about $178,000. Cadence Capital Management LLC acquired a new stake in Tabula Rasa Healthcare during the 2nd quarter worth about $210,000. Finally, Teachers Advisors LLC grew its holdings in Tabula Rasa Healthcare by 203.5% during the 2nd quarter. Teachers Advisors LLC now owns 16,500 shares of the company’s stock worth $248,000 after acquiring an additional 11,063 shares during the period. Hedge funds and other institutional investors own 28.85% of the company’s stock.
Tabula Rasa Healthcare (NASDAQ TRHC) traded up 3.32% on Friday, hitting $21.79. The stock had a trading volume of 160,820 shares. Tabula Rasa Healthcare has a 12-month low of $10.39 and a 12-month high of $23.80. The company has a 50 day moving average of $17.67 and a 200 day moving average of $14.74. The company’s market capitalization is $376.66 million.
ILLEGAL ACTIVITY NOTICE: “$29.67 Million in Sales Expected for Tabula Rasa Healthcare Inc. (TRHC) This Quarter” was reported by American Banking News and is the property of of American Banking News. If you are accessing this news story on another website, it was illegally stolen and republished in violation of US & international trademark & copyright laws. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/09/08/29-67-million-in-sales-expected-for-tabula-rasa-healthcare-inc-trhc-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tabula Rasa Healthcare Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tabula Rasa Healthcare Inc. and related companies with MarketBeat.com's FREE daily email newsletter.