Tabula Rasa Healthcare Inc. (NASDAQ:TRHC)‘s stock had its “outperform” rating reiterated by investment analysts at Robert W. Baird in a research report issued to clients and investors on Tuesday. They presently have a $30.00 price objective on the stock, up from their previous price objective of $22.00. Robert W. Baird’s target price indicates a potential upside of 11.77% from the company’s previous close.
TRHC has been the subject of several other research reports. Wells Fargo & Company lowered Tabula Rasa Healthcare from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $17.00 to $21.00 in a report on Thursday, September 7th. Chardan Capital assumed coverage on Tabula Rasa Healthcare in a report on Monday, July 10th. They issued a “buy” rating and a $19.50 price objective for the company. Zacks Investment Research raised Tabula Rasa Healthcare from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective for the company in a report on Wednesday, October 11th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $20.00 price objective (up previously from $19.00) on shares of Tabula Rasa Healthcare in a report on Wednesday, August 9th. Finally, ValuEngine raised Tabula Rasa Healthcare from a “sell” rating to a “hold” rating in a report on Saturday, September 30th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Tabula Rasa Healthcare currently has an average rating of “Buy” and a consensus price target of $24.71.
Tabula Rasa Healthcare (NASDAQ:TRHC) traded up 10.45% on Tuesday, reaching $26.84. The company’s stock had a trading volume of 176,610 shares. The stock’s market cap is $463.96 million. The company’s 50 day moving average price is $26.17 and its 200-day moving average price is $26.17. 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 issued its quarterly earnings data on Monday, August 7th. The company reported $0.06 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. Tabula Rasa Healthcare had a negative return on equity of 9.58% and a negative net margin of 10.27%. The company had revenue of $29.70 million during the quarter, compared to analyst estimates of $27.84 million. The business’s revenue was up 32.6% compared to the same quarter last year. On average, equities analysts expect that Tabula Rasa Healthcare will post $0.39 EPS for the current year.
In related news, insider Orsula V. Knowlton sold 8,000 shares of Tabula Rasa Healthcare stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $22.10, for a total transaction of $176,800.00. Following the transaction, the insider now directly owns 887,407 shares in the company, valued at $19,611,694.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 24,000 shares of company stock worth $428,080 over the last quarter. 45.80% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC lifted its position in Tabula Rasa Healthcare by 108.5% during the first quarter. TIAA CREF Investment Management LLC now owns 8,131 shares of the company’s stock valued at $110,000 after purchasing an additional 4,232 shares in the last quarter. New York State Common Retirement Fund lifted its position in Tabula Rasa Healthcare by 257.0% during the second quarter. New York State Common Retirement Fund now owns 10,000 shares of the company’s stock valued at $151,000 after purchasing an additional 7,199 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Tabula Rasa Healthcare during the first quarter valued at $178,000. Cadence Capital Management LLC purchased a new position in Tabula Rasa Healthcare during the second quarter valued at $210,000. Finally, Teachers Advisors LLC lifted its position in Tabula Rasa Healthcare by 203.5% during the second quarter. Teachers Advisors LLC now owns 16,500 shares of the company’s stock valued at $248,000 after purchasing an additional 11,063 shares in the last quarter. 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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