Tabula Rasa Healthcare Inc. (TRHC) Receives $17.70 Average Price Target from Brokerages

Shares of Tabula Rasa Healthcare Inc. (NASDAQ:TRHC) have been given an average rating of “Buy” by the seven brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $18.20.

TRHC has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Tabula Rasa Healthcare from a “sell” rating to a “hold” rating in a report on Tuesday, May 16th. Stifel Nicolaus reissued a “buy” rating and issued a $16.00 target price on shares of Tabula Rasa Healthcare in a research note on Friday, July 14th. Chardan Capital began coverage on Tabula Rasa Healthcare in a research note on Monday, July 10th. They issued a “buy” rating and a $19.50 target price on the stock. Robert W. Baird increased their target price on Tabula Rasa Healthcare from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, UBS AG reissued a “buy” rating and issued a $17.00 target price (down from $18.00) on shares of Tabula Rasa Healthcare in a research note on Thursday, May 25th.

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In related news, Director Gordon Tunstall sold 22,759 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $13.76, for a total transaction of $313,163.84. Following the completion of the sale, the director now directly owns 5,565 shares of the company’s stock, valued at approximately $76,574.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Orsula V. Knowlton sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $11.94, for a total value of $95,520.00. Following the sale, the insider now directly owns 919,407 shares of the company’s stock, valued at $10,977,719.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,759 shares of company stock valued at $634,444. Company insiders own 45.80% of the company’s stock.

Several large investors have recently modified their holdings of the company. Cadence Capital Management LLC purchased a new stake in shares of Tabula Rasa Healthcare during the second quarter worth $210,000. Bank of New York Mellon Corp raised its stake in shares of Tabula Rasa Healthcare by 47.2% in the second quarter. Bank of New York Mellon Corp now owns 19,412 shares of the company’s stock worth $293,000 after buying an additional 6,228 shares during the period. Boston Partners raised its stake in shares of Tabula Rasa Healthcare by 17.1% in the second quarter. Boston Partners now owns 235,180 shares of the company’s stock worth $3,540,000 after buying an additional 34,360 shares during the period. Russell Investments Group Ltd. raised its position in Tabula Rasa Healthcare by 58.1% in the second 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 last quarter. Finally, TIAA CREF Investment Management LLC raised its position in Tabula Rasa Healthcare by 108.5% in the first quarter. TIAA CREF Investment Management LLC now owns 8,131 shares of the company’s stock valued at $110,000 after buying an additional 4,232 shares during the last quarter. 24.99% of the stock is owned by hedge funds and other institutional investors.

Tabula Rasa Healthcare (NASDAQ TRHC) traded down 1.44% during mid-day trading on Friday, reaching $17.17. 53,416 shares of the company’s stock traded hands. The company has a 50 day moving average price of $14.71 and a 200-day moving average price of $14.02. Tabula Rasa Healthcare has a 12 month low of $10.39 and a 12 month high of $17.88. The stock’s market cap is $295.63 million.

Tabula Rasa Healthcare (NASDAQ:TRHC) last announced its quarterly earnings data on Monday, August 7th. The company reported $0.06 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. Tabula Rasa Healthcare had a negative return on equity of 12.06% and a negative net margin of 10.27%. The firm had revenue of $29.70 million during the quarter, compared to the consensus estimate of $27.84 million. The business’s revenue was up 32.6% compared to the same quarter last year. On average, analysts anticipate that Tabula Rasa Healthcare will post $0.41 EPS for the current year.

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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