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.
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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