Tabula Rasa HealthCare (NASDAQ:TRHC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Saturday.
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. “
TRHC has been the topic of several other research reports. Cantor Fitzgerald reissued a “buy” rating and set a $99.00 target price on shares of Tabula Rasa HealthCare in a research report on Tuesday. Citigroup boosted their target price on Tabula Rasa HealthCare from $57.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, August 9th. Chardan Capital boosted their target price on Tabula Rasa HealthCare from $77.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday. BidaskClub raised Tabula Rasa HealthCare from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Robert W. Baird boosted their target price on Tabula Rasa HealthCare from $70.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, September 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $81.60.
Shares of TRHC traded down $0.85 during mid-day trading on Friday, hitting $72.96. 289,922 shares of the stock were exchanged, compared to its average volume of 340,137. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -1,824.00, a price-to-earnings-growth ratio of 5.63 and a beta of 2.58. Tabula Rasa HealthCare has a 52-week low of $27.10 and a 52-week high of $91.16. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.49 and a quick ratio of 0.33.
Tabula Rasa HealthCare (NASDAQ:TRHC) last issued its quarterly earnings data on Tuesday, November 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.07. The business had revenue of $54.42 million for the quarter, compared to analysts’ expectations of $52.87 million. Tabula Rasa HealthCare had a positive return on equity of 7.63% and a negative net margin of 13.49%. The company’s revenue for the quarter was up 66.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. On average, sell-side analysts expect that Tabula Rasa HealthCare will post 0.52 earnings per share for the current year.
In other Tabula Rasa HealthCare news, CEO Calvin H. Knowlton sold 8,000 shares of the company’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $85.98, for a total value of $687,840.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 48,000 shares of company stock worth $3,722,960 in the last ninety days. 14.00% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Mount Yale Investment Advisors LLC bought a new position in Tabula Rasa HealthCare in the 2nd quarter valued at $111,000. Meadow Creek Investment Management LLC bought a new position in Tabula Rasa HealthCare in the 2nd quarter valued at $115,000. Envestnet Asset Management Inc. bought a new position in Tabula Rasa HealthCare in the 2nd quarter valued at $130,000. Mckinley Capital Management LLC Delaware grew its position in Tabula Rasa HealthCare by 60.5% in the 2nd quarter. Mckinley Capital Management LLC Delaware now owns 2,431 shares of the company’s stock valued at $155,000 after acquiring an additional 916 shares during the last quarter. Finally, Pinebridge Investments L.P. bought a new position in Tabula Rasa HealthCare in the 2nd quarter valued at $181,000. 75.88% of the stock is currently owned by institutional investors.
About Tabula Rasa HealthCare
Tabula Rasa HealthCare, Inc operates as a healthcare technology company in the United States. It offers medication risk management, pharmacy cost management, and medicare risk adjustment services. The company offers its technology-enabled products and services to prescribers, pharmacists, and healthcare organizations for medication risk management and risk adjustment.
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