Piper Jaffray Companies Reiterates Overweight Rating for Tabula Rasa Healthcare Inc. (TRHC)
Tabula Rasa Healthcare Inc. (NASDAQ:TRHC)‘s stock had its “overweight” rating reissued by stock analysts at Piper Jaffray Companies in a report released on Wednesday, The Fly reports. They currently have a $29.00 price target on the stock, up from their previous price target of $20.00. Piper Jaffray Companies’ price target would suggest a potential upside of 13.02% from the stock’s current price.
TRHC has been the topic of several other research reports. 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 note on Tuesday, August 8th. Stifel Nicolaus restated a “buy” rating and set a $16.00 price objective on shares of Tabula Rasa Healthcare in a research note on Friday, July 14th. Wells Fargo & Company cut Tabula Rasa Healthcare from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $17.00 to $21.00 in a research note on Thursday, September 7th. 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 note on Tuesday, August 8th. Finally, 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 note on Wednesday, August 30th. Two investment 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 a consensus rating of “Buy” and an average price target of $20.71.
Tabula Rasa Healthcare (NASDAQ TRHC) traded down 1.46% on Wednesday, hitting $25.66. The stock had a trading volume of 110,499 shares. Tabula Rasa Healthcare has a 12-month low of $10.39 and a 12-month high of $26.79. The firm’s market cap is $443.56 million. The company’s 50 day moving average is $23.99 and its 200 day moving average is $23.99.
Tabula Rasa Healthcare (NASDAQ:TRHC) last announced its quarterly earnings data on Monday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting 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 firm had revenue of $29.70 million for the quarter, compared to analysts’ expectations of $27.84 million. The company’s revenue was up 32.6% compared to the same quarter last year. On average, equities research analysts expect that Tabula Rasa Healthcare will post $0.39 EPS for the current fiscal year.
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In other news, insider Orsula V. Knowlton sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $22.10, for a total transaction of $176,800.00. Following the completion of the transaction, the insider now directly owns 887,407 shares of the company’s stock, valued at $19,611,694.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 24,000 shares of company stock valued at $428,080 over the last ninety days. Corporate insiders own 45.80% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Hood River Capital Management LLC grew its holdings in Tabula Rasa Healthcare by 7.5% in the 2nd quarter. Hood River Capital Management LLC now owns 825,225 shares of the company’s stock worth $12,420,000 after buying an additional 57,724 shares in the last quarter. Wellington Management Group LLP grew its holdings in Tabula Rasa Healthcare by 37.2% in the 1st quarter. Wellington Management Group LLP now owns 782,142 shares of the company’s stock worth $10,544,000 after buying an additional 212,164 shares in the last quarter. Vanguard Group Inc. grew its holdings in Tabula Rasa Healthcare by 13.4% in the 2nd quarter. Vanguard Group Inc. now owns 236,964 shares of the company’s stock worth $3,566,000 after buying an additional 27,997 shares in the last quarter. Boston Partners grew its holdings in Tabula Rasa Healthcare by 17.1% in the 2nd quarter. Boston Partners now owns 235,180 shares of the company’s stock worth $3,540,000 after buying an additional 34,360 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Tabula Rasa Healthcare by 97.4% in the 2nd quarter. Northern Trust Corp now owns 95,862 shares of the company’s stock worth $1,443,000 after buying an additional 47,306 shares in the last quarter. 28.85% of the stock is owned by institutional investors and hedge funds.
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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