Tabula Rasa Healthcare Inc. (NASDAQ:TRHC) fell 11.2% during trading on Tuesday . The company traded as low as $28.60 and last traded at $29.00. 632,201 shares changed hands during mid-day trading, an increase of 566% from the average session volume of 94,912 shares. The stock had previously closed at $32.65.
A number of research firms have recently commented on TRHC. First Analysis began coverage on Tabula Rasa Healthcare in a research note on Wednesday, November 1st. They issued an “overweight” rating and a $41.00 target price on the stock. Piper Jaffray Companies reissued an “overweight” rating and issued a $35.00 target price on shares of Tabula Rasa Healthcare in a research note on Tuesday, November 7th. They noted that the move was a valuation call. Wells Fargo & Company downgraded 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 report on Thursday, September 7th. Zacks Investment Research raised Tabula Rasa Healthcare from a “hold” rating to a “strong-buy” rating and set a $31.00 price target on the stock in a report on Wednesday, October 11th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $30.00 price target (up from $22.00) on shares of Tabula Rasa Healthcare in a report on Tuesday, October 17th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $28.25.
The company has a debt-to-equity ratio of 0.47, a current ratio of 0.73 and a quick ratio of 0.66.
In other news, insider Orsula V. Knowlton sold 8,000 shares of the company’s 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 of the company’s stock, valued at $19,611,694.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 45.80% of the company’s stock.
Several large investors have recently made changes to their positions in TRHC. TIAA CREF Investment Management LLC lifted its holdings 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 acquiring an additional 4,232 shares during the period. New York State Common Retirement Fund lifted its holdings in Tabula Rasa Healthcare by 257.0% in the second quarter. New York State Common Retirement Fund now owns 10,000 shares of the company’s stock valued at $151,000 after acquiring an additional 7,199 shares during the period. Bank of New York Mellon Corp bought a new position in Tabula Rasa Healthcare in the first quarter valued at about $178,000. Cadence Capital Management LLC bought a new position in Tabula Rasa Healthcare in the second quarter valued at about $210,000. Finally, Financial Consulate Inc. bought a new position in Tabula Rasa Healthcare in the third quarter valued at about $222,000. 31.85% of the stock is currently owned by hedge funds and other institutional investors.
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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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