Tabula Rasa HealthCare (NASDAQ:TRHC) Cut to Sell at Zacks Investment Research

Tabula Rasa HealthCare (NASDAQ:TRHC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday, Zacks.com reports.

According to Zacks, “Tabula Rasa HealthCare, Inc. is a provider of patient-specific, data-driven technology and solutions which enable healthcare organizations to optimize medication regimens to improve patient outcomes, reduce hospitalizations, lower healthcare costs and manage risk. The company’s cloud-based software applications including EireneRx and MedWise Advisor which provide solutions to payers, providers and other healthcare organizations. Tabula Rasa HealthCare, Inc. is based in NJ, United States. “

TRHC has been the topic of a number of other reports. William Blair reiterated an “outperform” rating on shares of Tabula Rasa HealthCare in a research note on Friday, January 17th. Wells Fargo & Co dropped their price objective on Tabula Rasa HealthCare from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Piper Jaffray Companies dropped their price objective on Tabula Rasa HealthCare from $78.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. ValuEngine lowered Tabula Rasa HealthCare from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 13th. Finally, Cantor Fitzgerald dropped their price objective on Tabula Rasa HealthCare from $99.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $66.79.

NASDAQ TRHC traded down $4.16 during trading on Friday, hitting $53.01. 384,932 shares of the company traded hands, compared to its average volume of 295,004. Tabula Rasa HealthCare has a 12 month low of $37.41 and a 12 month high of $68.00. The business has a fifty day simple moving average of $47.32 and a 200 day simple moving average of $51.91. The company has a current ratio of 2.22, a quick ratio of 2.13 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $1.27 billion, a P/E ratio of -29.61 and a beta of 1.51.

Tabula Rasa HealthCare (NASDAQ:TRHC) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $74.27 million for the quarter, compared to analyst estimates of $75.37 million. Tabula Rasa HealthCare had a positive return on equity of 0.50% and a negative net margin of 13.46%. Equities research analysts predict that Tabula Rasa HealthCare will post -0.23 EPS for the current fiscal year.

In related news, President Orsula V. Knowlton sold 8,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $50.28, for a total transaction of $402,240.00. Following the transaction, the president now directly owns 764,207 shares in the company, valued at $38,424,327.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Orsula V. Knowlton sold 5,322 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $41.81, for a total value of $222,512.82. Following the transaction, the president now owns 777,256 shares in the company, valued at $32,497,073.36. The disclosure for this sale can be found here. Insiders have sold 103,313 shares of company stock worth $4,786,776 over the last 90 days. Corporate insiders own 11.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System increased its stake in Tabula Rasa HealthCare by 1.2% during the third quarter. California State Teachers Retirement System now owns 30,396 shares of the company’s stock valued at $1,670,000 after acquiring an additional 363 shares during the period. Commonwealth Equity Services LLC increased its stake in Tabula Rasa HealthCare by 2.7% during the third quarter. Commonwealth Equity Services LLC now owns 16,533 shares of the company’s stock valued at $908,000 after acquiring an additional 431 shares during the period. Louisiana State Employees Retirement System increased its stake in Tabula Rasa HealthCare by 7.4% during the third quarter. Louisiana State Employees Retirement System now owns 7,300 shares of the company’s stock valued at $401,000 after acquiring an additional 500 shares during the period. Centaurus Financial Inc. increased its stake in Tabula Rasa HealthCare by 16.8% during the second quarter. Centaurus Financial Inc. now owns 3,965 shares of the company’s stock valued at $198,000 after acquiring an additional 571 shares during the period. Finally, Mason Street Advisors LLC increased its stake in Tabula Rasa HealthCare by 9.6% during the third quarter. Mason Street Advisors LLC now owns 6,675 shares of the company’s stock valued at $367,000 after acquiring an additional 583 shares during the period. Hedge funds and other institutional investors own 99.17% of the company’s stock.

About Tabula Rasa HealthCare

Tabula Rasa HealthCare, Inc operates as a healthcare technology company in the field of medication safety in the United States. The company's proprietary Medication Risk Mitigation Matrix delivers a multi-drug review, which identifies medication-related risks. Its cloud-based software applications include EireneRx, a medication decision-support and e-prescribing platform to access patients' medication-related information; and MedWise that provides medication decision support components for clients seeking to manage their medication risk and improve medication outcomes, and patient relationships by enhancing their existing systems.

Read More: How much money do you need to begin day trading?

Get a free copy of the Zacks research report on Tabula Rasa HealthCare (TRHC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Tabula Rasa HealthCare (NASDAQ:TRHC)

Receive News & Ratings for Tabula Rasa HealthCare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tabula Rasa HealthCare and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit