Tabula Rasa Healthcare (TRHC) Stock Price Down 11.2%

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.

Tabula Rasa Healthcare (NASDAQ:TRHC) last announced its quarterly earnings results on Monday, November 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $33.27 million for the quarter, compared to the consensus estimate 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 company’s quarterly revenue was up 37.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.06 earnings per share. sell-side analysts anticipate that Tabula Rasa Healthcare Inc. will post 0.05 earnings per share for the current fiscal year.

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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