Tabula Rasa Healthcare Inc. (TRHC) Stock Rating Upgraded by Zacks Investment Research
Tabula Rasa Healthcare Inc. (NASDAQ:TRHC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday. The brokerage currently has a $31.00 target price on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 13.72% from the company’s current price.
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 equities analysts also recently issued reports about the company. Chardan Capital began coverage on Tabula Rasa Healthcare in a research report on Monday, July 10th. They set a “buy” rating and a $19.50 target price on the stock. UBS AG lifted their target price 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 lifted their target price 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. ValuEngine upgraded Tabula Rasa Healthcare from a “sell” rating to a “hold” rating in a research report on Saturday, September 30th. Finally, Wells Fargo & Company downgraded Tabula Rasa Healthcare from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $17.00 to $21.00 in a research report on Thursday, September 7th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Tabula Rasa Healthcare currently has an average rating of “Buy” and an average target price of $23.00.
Shares of Tabula Rasa Healthcare (NASDAQ TRHC) traded up 0.22% on Wednesday, hitting $27.32. The stock had a trading volume of 28,913 shares. Tabula Rasa Healthcare has a 12 month low of $10.39 and a 12 month high of $28.53. The stock has a 50 day moving average of $26.02 and a 200-day moving average of $26.02. The stock’s market cap is $474.28 million.
Tabula Rasa Healthcare (NASDAQ:TRHC) last released its quarterly earnings results on Monday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.06. The firm had revenue of $29.70 million for the quarter, compared to the consensus estimate of $27.84 million. Tabula Rasa Healthcare had a negative return on equity of 9.58% and a negative net margin of 10.27%. The firm’s revenue for the quarter was up 32.6% on a year-over-year basis. Equities research analysts anticipate that Tabula Rasa Healthcare will post $0.40 EPS for the current year.
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In other Tabula Rasa Healthcare news, insider Orsula V. Knowlton sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $14.20, for a total transaction of $113,600.00. Following the sale, the insider now directly owns 903,407 shares of the company’s stock, valued at $12,828,379.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 24,000 shares of company stock worth $428,080. Insiders own 45.80% of the company’s stock.
Large investors have recently bought and sold shares of the business. Icon Advisers Inc. Co. bought a new stake in Tabula Rasa Healthcare during the second quarter valued at about $684,000. Paradigm Capital Management Inc. NY bought a new stake in Tabula Rasa Healthcare during the second quarter valued at about $1,165,000. Wellington Management Group LLP raised its holdings in Tabula Rasa Healthcare by 37.2% during the first quarter. Wellington Management Group LLP now owns 782,142 shares of the company’s stock valued at $10,544,000 after acquiring an additional 212,164 shares during the period. Intrinsic Edge Capital Management LLC bought a new stake in Tabula Rasa Healthcare during the second quarter valued at about $461,000. Finally, Russell Investments Group Ltd. raised its holdings in Tabula Rasa Healthcare by 58.1% during the second quarter. Russell Investments Group Ltd. now owns 94,089 shares of the company’s stock valued at $1,415,000 after acquiring an additional 34,565 shares during the period. 28.85% of the stock is currently 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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