Tabula Rasa Healthcare Inc. (TRHC) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Tabula Rasa Healthcare Inc. (NASDAQ:TRHC) from a strong-buy rating to a hold rating in a research report report published on Friday morning.

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. “

Several other analysts have also recently issued reports on TRHC. Piper Jaffray Companies reaffirmed an overweight rating and set a $20.00 price objective (up previously from $19.00) on shares of Tabula Rasa Healthcare in a research note on Wednesday, August 9th. Robert W. Baird upped their price objective on shares of Tabula Rasa Healthcare from $17.00 to $18.00 and gave the company an outperform rating in a research note on Tuesday, August 8th. ValuEngine raised shares of Tabula Rasa Healthcare from a sell rating to a hold rating in a research note on Saturday, September 30th. Chardan Capital upped their price objective on shares of Tabula Rasa Healthcare from $19.50 to $21.00 and gave the company a buy rating in a research note on Tuesday, August 8th. Finally, Wells Fargo & Company upped their price objective on shares of Tabula Rasa Healthcare from $21.00 to $27.00 and gave the company a market perform rating in a research note on Thursday, October 19th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Tabula Rasa Healthcare currently has a consensus rating of Buy and a consensus price target of $28.25.

Tabula Rasa Healthcare (NASDAQ TRHC) traded down $1.00 during mid-day trading on Friday, hitting $28.07. 54,200 shares of the stock were exchanged, compared to its average volume of 96,771. 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 has a twelve month low of $10.51 and a twelve month high of $31.05.

Tabula Rasa Healthcare (NASDAQ:TRHC) last released its earnings results on Monday, November 6th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Tabula Rasa Healthcare had a negative net margin of 2.27% and a negative return on equity of 5.58%. The business had revenue of $33.27 million during the quarter, compared to analysts’ expectations of $31.76 million. During the same quarter in the previous year, the company earned $0.06 earnings per share. The company’s quarterly revenue was up 37.6% on a year-over-year basis. equities analysts anticipate that Tabula Rasa Healthcare will post 0.05 EPS for the current fiscal year.

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In other news, CEO Calvin H. Knowlton sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $17.21, for a total value of $137,680.00. Following the transaction, the chief executive officer now directly owns 918,362 shares in the company, valued at approximately $15,805,010.02. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 24,000 shares of company stock worth $527,920. Company insiders own 45.80% of the company’s stock.

Several hedge funds have recently modified their holdings of TRHC. Bank of New York Mellon Corp acquired a new position in shares of Tabula Rasa Healthcare in the 1st quarter worth approximately $178,000. TIAA CREF Investment Management LLC lifted its holdings in shares of Tabula Rasa Healthcare by 108.5% in the 1st quarter. TIAA CREF Investment Management LLC now owns 8,131 shares of the company’s stock worth $110,000 after acquiring an additional 4,232 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Tabula Rasa Healthcare by 58.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 94,089 shares of the company’s stock worth $1,415,000 after acquiring an additional 34,565 shares during the last quarter. Boston Partners lifted its holdings in shares of Tabula Rasa Healthcare by 17.1% in the 2nd quarter. Boston Partners now owns 235,180 shares of the company’s stock worth $3,540,000 after acquiring an additional 34,360 shares during the last quarter. Finally, Cadence Capital Management LLC acquired a new position in shares of Tabula Rasa Healthcare in the 2nd quarter worth approximately $210,000. Hedge funds and other institutional investors own 25.80% of the company’s stock.

Tabula Rasa Healthcare Company 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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