Tabula Rasa HealthCare (TRHC) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Tabula Rasa HealthCare (NASDAQ:TRHC) from a sell rating to a buy rating in a research report report published on Thursday. They currently have $69.00 price target on the stock.

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. “

Other equities research analysts have also issued research reports about the company. Citigroup boosted their price target on Tabula Rasa HealthCare to $100.00 and gave the stock a buy rating in a research note on Thursday, October 11th. BidaskClub upgraded Tabula Rasa HealthCare from a hold rating to a buy rating in a research note on Wednesday, November 28th. Chardan Capital boosted their price target on Tabula Rasa HealthCare from $77.00 to $91.00 and gave the stock a buy rating in a research note on Wednesday, November 7th. Cantor Fitzgerald restated a buy rating and set a $99.00 price target on shares of Tabula Rasa HealthCare in a research note on Tuesday, November 6th. Finally, Benchmark started coverage on Tabula Rasa HealthCare in a research note on Tuesday. They set a buy rating and a $85.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of Buy and an average target price of $82.27.

Shares of TRHC stock traded down $0.02 during trading hours on Thursday, reaching $66.00. 202,200 shares of the company’s stock were exchanged, compared to its average volume of 211,050. Tabula Rasa HealthCare has a 1 year low of $28.55 and a 1 year high of $91.16. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -1,650.00, a PEG ratio of 4.20 and a beta of 2.45. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.46 and a current ratio of 0.49.

Tabula Rasa HealthCare (NASDAQ:TRHC) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.07. Tabula Rasa HealthCare had a positive return on equity of 7.63% and a negative net margin of 13.49%. The business had revenue of $54.42 million for the quarter, compared to analyst estimates of $52.87 million. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The company’s revenue was up 66.3% on a year-over-year basis. As a group, equities analysts forecast that Tabula Rasa HealthCare will post 0.42 earnings per share for the current year.

In related news, CFO Brian W. Adams sold 3,035 shares of Tabula Rasa HealthCare stock in a transaction dated Thursday, January 3rd. The stock was sold at an average price of $57.45, for a total transaction of $174,360.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Calvin H. Knowlton sold 8,000 shares of Tabula Rasa HealthCare stock in a transaction dated Monday, January 7th. The stock was sold at an average price of $63.06, for a total value of $504,480.00. The disclosure for this sale can be found here. Insiders have sold 63,790 shares of company stock valued at $4,409,251 in the last ninety days. Corporate insiders own 14.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Tabula Rasa HealthCare by 20.8% in the third quarter. BlackRock Inc. now owns 2,560,710 shares of the company’s stock valued at $207,904,000 after acquiring an additional 441,203 shares during the period. Vanguard Group Inc. lifted its holdings in Tabula Rasa HealthCare by 6.9% in the third quarter. Vanguard Group Inc. now owns 967,769 shares of the company’s stock valued at $78,573,000 after acquiring an additional 62,267 shares during the period. Vanguard Group Inc lifted its holdings in Tabula Rasa HealthCare by 6.9% in the third quarter. Vanguard Group Inc now owns 967,769 shares of the company’s stock valued at $78,573,000 after acquiring an additional 62,267 shares during the period. NN Investment Partners Holdings N.V. lifted its holdings in Tabula Rasa HealthCare by 45.2% in the third quarter. NN Investment Partners Holdings N.V. now owns 669,800 shares of the company’s stock valued at $54,380,000 after acquiring an additional 208,604 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Tabula Rasa HealthCare by 20.8% in the third quarter. Bank of New York Mellon Corp now owns 258,613 shares of the company’s stock valued at $20,996,000 after acquiring an additional 44,551 shares during the period. 74.87% of the stock is owned by hedge funds and other institutional investors.

Tabula Rasa HealthCare Company Profile

Tabula Rasa HealthCare, Inc operates as a healthcare technology company in the United States. It offers medication risk management, pharmacy cost management, and medicare risk adjustment services. The company offers its technology-enabled products and services to prescribers, pharmacists, and healthcare organizations for medication risk management and risk adjustment.

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