Tabula Rasa HealthCare (TRHC) Downgraded by BidaskClub
Tabula Rasa HealthCare (NASDAQ:TRHC) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
Other research analysts have also issued reports about the company. Piper Jaffray Companies restated a “buy” rating and issued a $29.00 target price on shares of Tabula Rasa HealthCare in a research note on Tuesday, October 24th. UBS upped their target price 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. Zacks Investment Research lowered Tabula Rasa HealthCare from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 10th. ValuEngine upgraded Tabula Rasa HealthCare from a “sell” rating to a “hold” rating in a research note on Saturday, September 30th. Finally, Wells Fargo & Company lowered Tabula Rasa HealthCare from an “outperform” rating to a “market perform” rating and upped their target price for the company from $17.00 to $21.00 in a research note on Thursday, September 7th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $28.25.
Shares of Tabula Rasa HealthCare (NASDAQ TRHC) traded up $0.03 during midday trading on Friday, hitting $28.16. The company had a trading volume of 287,010 shares, compared to its average volume of 241,563. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.73 and a quick ratio of 0.66. Tabula Rasa HealthCare has a twelve month low of $11.59 and a twelve month high of $36.80.
In other Tabula Rasa HealthCare news, insider Orsula V. Knowlton sold 8,000 shares of the stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $26.68, for a total transaction of $213,440.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Growth Fund 1Q Lp Originate sold 684,180 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $25.85, for a total value of $17,686,053.00. The disclosure for this sale can be found here. Insiders have sold 1,099,180 shares of company stock valued at $28,435,203 over the last quarter. Corporate insiders own 45.80% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System acquired a new position in Tabula Rasa HealthCare during the third quarter worth $254,000. Allianz Asset Management GmbH acquired a new stake in shares of Tabula Rasa HealthCare in the third quarter valued at $3,801,000. Pier Capital LLC acquired a new stake in shares of Tabula Rasa HealthCare in the third quarter valued at $4,151,000. Schwab Charles Investment Management Inc. increased its stake in shares of Tabula Rasa HealthCare by 69.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 18,300 shares of the company’s stock valued at $490,000 after buying an additional 7,500 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Tabula Rasa HealthCare by 79.8% in the third quarter. Wells Fargo & Company MN now owns 12,768 shares of the company’s stock valued at $341,000 after buying an additional 5,668 shares in the last quarter. Hedge funds and other institutional investors own 31.85% of the company’s stock.
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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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