Zacks Investment Research Lowers Tabula Rasa HealthCare Inc (TRHC) to Sell

Tabula Rasa HealthCare Inc (NASDAQ:TRHC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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. “

Several other research firms have also recently issued reports on TRHC. Stifel Nicolaus upped their target price on shares of Tabula Rasa HealthCare from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, March 14th. Robert W. Baird set a $17.00 target price on shares of Tabula Rasa HealthCare and gave the company a “buy” rating in a research note on Thursday, January 19th. Finally, Piper Jaffray Companies upped their target price on shares of Tabula Rasa HealthCare from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, March 14th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Tabula Rasa HealthCare has a consensus rating of “Buy” and a consensus target price of $17.50.

Shares of Tabula Rasa HealthCare (NASDAQ:TRHC) traded down 3.48% during mid-day trading on Friday, hitting $13.02. 52,199 shares of the stock were exchanged. Tabula Rasa HealthCare has a 52 week low of $10.39 and a 52 week high of $16.85. The stock’s 50-day moving average is $13.38 and its 200-day moving average is $13.54. The stock’s market capitalization is $222.29 million.

Tabula Rasa HealthCare (NASDAQ:TRHC) last posted its earnings results on Monday, March 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.01. The business had revenue of $27.30 million for the quarter, compared to analyst estimates of $25.53 million. The company’s revenue was up 37.9% on a year-over-year basis. Analysts forecast that Tabula Rasa HealthCare will post $0.41 earnings per share for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in the stock. DIAM Co. Ltd. acquired a new stake in Tabula Rasa HealthCare during the third quarter valued at approximately $136,000. Laurion Capital Management LP acquired a new stake in Tabula Rasa HealthCare during the third quarter valued at approximately $430,000. State Street Corp acquired a new stake in Tabula Rasa HealthCare during the fourth quarter valued at approximately $611,000. Russell Investments Group Ltd. acquired a new stake in Tabula Rasa HealthCare during the fourth quarter valued at approximately $875,000. Finally, Taylor Wealth Management Partners acquired a new stake in Tabula Rasa HealthCare during the third quarter valued at approximately $2,458,000. 23.79% of the stock is owned by hedge funds and other institutional investors.

Tabula Rasa HealthCare Company Profile

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.

5 Day Chart for NASDAQ:TRHC

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