Bank of New York Mellon Corp increased its holdings in Tabula Rasa HealthCare Inc (NASDAQ:TRHC) by 43.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,802 shares of the company’s stock after purchasing an additional 8,390 shares during the quarter. Bank of New York Mellon Corp’s holdings in Tabula Rasa HealthCare were worth $743,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Paradigm Capital Management Inc. NY raised its holdings in Tabula Rasa HealthCare by 3.4% in the 3rd quarter. Paradigm Capital Management Inc. NY now owns 80,000 shares of the company’s stock worth $2,139,000 after purchasing an additional 2,644 shares during the period. California State Teachers Retirement System raised its holdings in Tabula Rasa HealthCare by 60.2% in the 2nd quarter. California State Teachers Retirement System now owns 16,500 shares of the company’s stock worth $248,000 after purchasing an additional 6,200 shares during the period. New York State Common Retirement Fund raised its holdings in Tabula Rasa HealthCare by 257.0% in the 2nd quarter. New York State Common Retirement Fund now owns 10,000 shares of the company’s stock worth $151,000 after purchasing an additional 7,199 shares during the period. Financial Consulate Inc. acquired a new position in shares of Tabula Rasa HealthCare during the third quarter valued at approximately $222,000. Finally, Rhumbline Advisers acquired a new position in shares of Tabula Rasa HealthCare during the third quarter valued at approximately $253,000. 31.85% of the stock is owned by institutional investors.
Tabula Rasa HealthCare Inc (NASDAQ TRHC) opened at $32.95 on Friday. Tabula Rasa HealthCare Inc has a fifty-two week low of $11.59 and a fifty-two week high of $36.80. The company has a market capitalization of $591.87, a P/E ratio of -131.80, a price-to-earnings-growth ratio of 3.46 and a beta of 3.20. 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 (NASDAQ:TRHC) last announced its earnings results on Monday, November 6th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The business had revenue of $33.27 million during the quarter, compared to analysts’ expectations of $31.76 million. Tabula Rasa HealthCare had a return on equity of 46.85% and a net margin of 23.13%. The business’s revenue was up 37.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 earnings per share. equities research analysts expect that Tabula Rasa HealthCare Inc will post 0.03 EPS for the current fiscal year.
A number of equities analysts have commented on TRHC shares. Piper Jaffray Companies reissued an “overweight” rating and set a $29.00 target price (up previously from $20.00) on shares of Tabula Rasa HealthCare in a report on Wednesday, September 20th. ValuEngine raised Tabula Rasa HealthCare from a “sell” rating to a “hold” rating in a report on Saturday, September 30th. Zacks Investment Research raised Tabula Rasa HealthCare from a “hold” rating to a “strong-buy” rating and set a $31.00 target price for the company in a report on Wednesday, October 11th. Robert W. Baird reissued an “outperform” rating and set a $30.00 target price (up previously from $22.00) on shares of Tabula Rasa HealthCare in a report on Tuesday, October 17th. Finally, Wells Fargo & Co increased their target price on Tabula Rasa HealthCare from $21.00 to $27.00 and gave the company a “market perform” rating in a report on Thursday, October 19th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $29.78.
In other news, insider Orsula V. Knowlton sold 123,000 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $25.97, for a total value of $3,194,310.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Orsula V. Knowlton sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $26.68, for a total value of $213,440.00. The disclosure for this sale can be found here. Insiders sold 1,107,180 shares of company stock valued at $28,697,203 over the last 90 days. Company insiders own 45.80% of the company’s stock.
Tabula Rasa HealthCare 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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