Tabula Rasa Healthcare Inc. (TRHC) Coverage Initiated by Analysts at First Analysis
Equities researchers at First Analysis assumed coverage on shares of Tabula Rasa Healthcare Inc. (NASDAQ:TRHC) in a research report issued on Wednesday. The brokerage set an “overweight” rating and a $41.00 price target on the stock. First Analysis’ price objective indicates a potential upside of 41.97% from the stock’s previous close.
Several other analysts have also commented on the stock. Piper Jaffray Companies reissued a “buy” rating and set a $29.00 target price on shares of Tabula Rasa Healthcare in a research note on Tuesday, October 24th. Wells Fargo & Company increased their target price on shares of Tabula Rasa Healthcare from $21.00 to $27.00 and gave the company a “market perform” rating in a research note on Thursday, October 19th. Robert W. Baird reissued an “outperform” rating and set a $30.00 target price (up from $22.00) on shares of Tabula Rasa Healthcare in a research note on Tuesday, October 17th. Zacks Investment Research raised shares of Tabula Rasa Healthcare from a “hold” rating to a “strong-buy” rating and set a $31.00 target price for the company in a research note on Wednesday, October 11th. Finally, ValuEngine raised shares of Tabula Rasa Healthcare from a “sell” rating to a “hold” rating in a research note on Saturday, September 30th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Tabula Rasa Healthcare presently has a consensus rating of “Buy” and an average price target of $27.50.
Tabula Rasa Healthcare (NASDAQ:TRHC) last issued its quarterly earnings results on Monday, August 7th. The company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. Tabula Rasa Healthcare had a negative net margin of 10.27% and a negative return on equity of 9.58%. The company had revenue of $29.70 million during the quarter, compared to analyst estimates of $27.84 million. Tabula Rasa Healthcare’s quarterly revenue was up 32.6% on a year-over-year basis.
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In other news, insider Orsula V. Knowlton sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $22.10, for a total transaction of $176,800.00. Following the sale, the insider now owns 887,407 shares in the company, valued at $19,611,694.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 24,000 shares of company stock worth $527,920 in the last 90 days. 45.80% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in TRHC. Paradigm Capital Management Inc. NY acquired a new stake in shares of Tabula Rasa Healthcare during the second quarter valued at approximately $1,165,000. Hood River Capital Management LLC increased its stake 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 valued at $12,420,000 after buying an additional 57,724 shares during the period. Northern Trust Corp increased its stake in Tabula Rasa Healthcare by 97.4% in the 2nd quarter. Northern Trust Corp now owns 95,862 shares of the company’s stock valued at $1,443,000 after buying an additional 47,306 shares during the period. Icon Advisers Inc. Co. acquired a new position in Tabula Rasa Healthcare in the 2nd quarter valued at approximately $684,000. Finally, Russell Investments Group Ltd. increased its stake in Tabula Rasa Healthcare by 58.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 94,089 shares of the company’s stock valued at $1,415,000 after buying an additional 34,565 shares during the period. Institutional investors and hedge funds own 27.94% of the company’s stock.
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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