Tabula Rasa Healthcare Inc. (TRHC) Lifted to “Strong-Buy” at Zacks Investment Research

Tabula Rasa Healthcare Inc. (NASDAQ:TRHC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday. The firm presently has a $31.00 price target on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.72% from the company’s previous close.

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 subject of a number of other research reports. Chardan Capital assumed coverage on shares of Tabula Rasa Healthcare in a research report on Monday, July 10th. They set a “buy” rating and a $19.50 price objective for the company. Wells Fargo & Company downgraded shares of Tabula Rasa Healthcare from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $17.00 to $21.00 in a research report on Thursday, September 7th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $20.00 price objective (up previously from $19.00) on shares of Tabula Rasa Healthcare in a research report on Wednesday, August 9th. ValuEngine raised shares of Tabula Rasa Healthcare from a “sell” rating to a “hold” rating in a research report on Saturday, September 30th. Finally, Robert W. Baird boosted their price objective on shares of Tabula Rasa Healthcare from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, August 8th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $23.00.

Tabula Rasa Healthcare (TRHC) traded down 0.15% during trading on Wednesday, hitting $27.22. The company had a trading volume of 25,190 shares. The company’s 50 day moving average price is $26.02 and its 200-day moving average price is $26.02. The company’s market cap is $472.54 million. Tabula Rasa Healthcare has a 12 month low of $10.39 and a 12 month high of $28.53.

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 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 business had revenue of $29.70 million during the quarter, compared to the consensus estimate of $27.84 million. The company’s quarterly revenue was up 32.6% on a year-over-year basis. Equities analysts expect that Tabula Rasa Healthcare will post $0.40 earnings per share for the current year.

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In other Tabula Rasa Healthcare news, insider Orsula V. Knowlton sold 8,000 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $22.10, for a total value of $176,800.00. Following the completion of the transaction, the insider now owns 887,407 shares in the company, valued at approximately $19,611,694.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 24,000 shares of company stock valued at $428,080. 45.80% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of TRHC. Bank of New York Mellon Corp bought a new position in Tabula Rasa Healthcare in the 1st quarter worth about $178,000. Wellington Management Group LLP grew its position in Tabula Rasa Healthcare by 37.2% in the 1st quarter. Wellington Management Group LLP now owns 782,142 shares of the company’s stock worth $10,544,000 after purchasing an additional 212,164 shares during the last quarter. TIAA CREF Investment Management LLC grew its position in Tabula Rasa Healthcare by 108.5% in the 1st quarter. TIAA CREF Investment Management LLC now owns 8,131 shares of the company’s stock worth $110,000 after purchasing an additional 4,232 shares during the last quarter. Russell Investments Group Ltd. grew its position 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 worth $1,415,000 after purchasing an additional 34,565 shares during the last quarter. Finally, Boston Partners grew its position in Tabula Rasa Healthcare by 17.1% in the 2nd quarter. Boston Partners now owns 235,180 shares of the company’s stock worth $3,540,000 after purchasing an additional 34,360 shares during the last quarter. Hedge funds and other institutional investors own 28.85% of the company’s stock.

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.

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