Tabula Rasa Healthcare Inc. (TRHC) Cut to “Market Perform” at Wells Fargo & Company
Tabula Rasa Healthcare Inc. (NASDAQ:TRHC) was downgraded by research analysts at Wells Fargo & Company from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday, MarketBeat.com reports. They currently have a $21.00 price objective on the stock, up from their prior price objective of $17.00. Wells Fargo & Company’s target price would indicate a potential downside of 3.49% from the company’s previous close.
Several other research firms have also recently issued reports on TRHC. Stifel Nicolaus reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Tabula Rasa Healthcare in a research report on Friday, July 14th. UBS AG upped their price objective on Tabula Rasa Healthcare from $18.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, August 30th. Robert W. Baird upped their price objective on Tabula Rasa Healthcare from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, August 8th. Zacks Investment Research raised Tabula Rasa Healthcare from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. Finally, Chardan Capital upped their price objective on Tabula Rasa Healthcare from $19.50 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, August 8th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $19.43.
Shares of Tabula Rasa Healthcare (NASDAQ:TRHC) opened at 21.76 on Thursday. The company’s 50-day moving average price is $17.90 and its 200-day moving average price is $14.79. Tabula Rasa Healthcare has a one year low of $10.39 and a one year high of $23.80. The company’s market capitalization is $376.14 million.
Tabula Rasa Healthcare (NASDAQ:TRHC) last released its quarterly earnings data on Monday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $29.70 million for the quarter, compared to analysts’ expectations of $27.84 million. Tabula Rasa Healthcare had a negative return on equity of 9.58% and a negative net margin of 10.27%. Tabula Rasa Healthcare’s revenue for the quarter was up 32.6% compared to the same quarter last year. On average, equities research analysts predict that Tabula Rasa Healthcare will post $0.41 earnings per share for the current year.
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In other news, CEO Calvin H. Knowlton sold 8,000 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $17.21, for a total transaction of $137,680.00. Following the transaction, the chief executive officer now directly owns 918,362 shares of the company’s stock, valued at approximately $15,805,010.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gordon Tunstall sold 22,759 shares of the stock in a transaction on Monday, June 12th. The shares were sold at an average price of $13.76, for a total value of $313,163.84. Following the transaction, the director now directly owns 5,565 shares in the company, valued at $76,574.40. The disclosure for this sale can be found here. Insiders have sold a total of 46,759 shares of company stock worth $676,604 over the last three months. Insiders own 45.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC lifted its holdings in shares of 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 valued at $110,000 after buying an additional 4,232 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of 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 valued at $151,000 after buying an additional 7,199 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Tabula Rasa Healthcare during the 1st quarter valued at $178,000. Cadence Capital Management LLC bought a new position in shares of Tabula Rasa Healthcare during the 2nd quarter valued at $210,000. Finally, Teachers Advisors LLC lifted its holdings in shares of Tabula Rasa Healthcare by 203.5% during the 2nd quarter. Teachers Advisors LLC now owns 16,500 shares of the company’s stock valued at $248,000 after buying an additional 11,063 shares during the period. 28.85% of the stock is currently owned by hedge funds and other institutional investors.
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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