Tabula Rasa Healthcare (TRHC) Rating Lowered to Buy at BidaskClub

Tabula Rasa Healthcare (NASDAQ:TRHC) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Wednesday.

TRHC has been the topic of several other reports. First Analysis assumed coverage on Tabula Rasa Healthcare in a research report on Wednesday, November 1st. They set an “overweight” rating and a $41.00 price target on the stock. Piper Jaffray Companies reissued an “overweight” rating and set a $35.00 price target on shares of Tabula Rasa Healthcare in a research report on Tuesday, November 7th. They noted that the move was a valuation call. Wells Fargo & Company lowered Tabula Rasa Healthcare from an “outperform” rating to a “market perform” rating and upped their price target for the company from $17.00 to $21.00 in a research report on Thursday, September 7th. Zacks Investment Research upgraded Tabula Rasa Healthcare from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective for the company in a research note on Wednesday, October 11th. Finally, Robert W. Baird restated an “outperform” rating and set a $30.00 price objective (up from $22.00) on shares of Tabula Rasa Healthcare in a research note on Tuesday, October 17th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Tabula Rasa Healthcare presently has an average rating of “Buy” and a consensus target price of $28.25.

Shares of Tabula Rasa Healthcare (TRHC) opened at $29.00 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 0.47. Tabula Rasa Healthcare has a 52-week low of $11.35 and a 52-week high of $36.80.

Tabula Rasa Healthcare (NASDAQ:TRHC) last posted its quarterly earnings results on Monday, November 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.02. The business had revenue of $33.27 million for the quarter, compared to analyst estimates of $31.76 million. Tabula Rasa Healthcare had a negative return on equity of 5.58% and a negative net margin of 2.27%. The business’s revenue was up 37.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.06 EPS. sell-side analysts predict that Tabula Rasa Healthcare will post 0.05 earnings per share for the current year.

In related news, insider Orsula V. Knowlton sold 8,000 shares of the company’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $26.68, for a total transaction of $213,440.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 45.80% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hood River Capital Management LLC grew its stake in Tabula Rasa Healthcare by 7.5% during the 2nd quarter. Hood River Capital Management LLC now owns 825,225 shares of the company’s stock worth $12,420,000 after buying an additional 57,724 shares during the last quarter. Vanguard Group Inc. grew its stake in Tabula Rasa Healthcare by 13.4% during the 2nd quarter. Vanguard Group Inc. now owns 236,964 shares of the company’s stock worth $3,566,000 after buying an additional 27,997 shares during the last quarter. Boston Partners grew its stake in Tabula Rasa Healthcare by 17.1% during the 2nd 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 last quarter. Pier Capital LLC bought a new position in shares of Tabula Rasa Healthcare in the third quarter worth $4,151,000. Finally, Wasatch Advisors Inc. bought a new position in shares of Tabula Rasa Healthcare in the third quarter worth $4,047,000. Hedge funds and other institutional investors own 31.85% of the company’s stock.

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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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