Short Interest in Tabula Rasa HealthCare Inc (TRHC) Expands By 47.9%

Tabula Rasa HealthCare Inc (NASDAQ:TRHC) was the target of a significant growth in short interest during the month of March. As of March 29th, there was short interest totalling 1,060,620 shares, a growth of 47.9% from the March 15th total of 717,131 shares. Currently, 6.7% of the company’s stock are sold short. Based on an average trading volume of 851,131 shares, the short-interest ratio is currently 1.2 days.

Shares of NASDAQ TRHC opened at $39.94 on Monday. The company has a market capitalization of $815.55, a P/E ratio of -998.50, a PEG ratio of 9.06 and a beta of 2.39. Tabula Rasa HealthCare has a 52 week low of $11.59 and a 52 week high of $41.83. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.11 and a current ratio of 1.21.

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Tabula Rasa HealthCare (NASDAQ:TRHC) last released its quarterly earnings data on Monday, March 12th. The company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.03). Tabula Rasa HealthCare had a negative return on equity of 1.96% and a net margin of 10.63%. The company had revenue of $43.93 million during the quarter, compared to analysts’ expectations of $38.91 million. During the same quarter in the prior year, the company posted $0.10 EPS. The company’s revenue for the quarter was up 60.9% on a year-over-year basis. sell-side analysts predict that Tabula Rasa HealthCare will post 0.18 earnings per share for the current fiscal year.

TRHC has been the topic of a number of recent research reports. Piper Jaffray upped their target price on Tabula Rasa HealthCare to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, March 13th. Chardan Capital reiterated a “buy” rating and issued a $50.00 target price (up previously from $46.00) on shares of Tabula Rasa HealthCare in a research report on Friday, March 16th. Oppenheimer upped their target price on Tabula Rasa HealthCare from $35.00 to $47.00 and gave the company an “outperform” rating in a research report on Tuesday, March 13th. Zacks Investment Research lowered Tabula Rasa HealthCare from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Finally, BidaskClub upgraded Tabula Rasa HealthCare from a “hold” rating to a “buy” rating in a research report on Thursday, March 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company’s stock. Tabula Rasa HealthCare currently has an average rating of “Buy” and a consensus target price of $36.40.

In other news, Director Bruce Luehrs sold 252,242 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $34.29, for a total transaction of $8,649,378.18. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Calvin H. Knowlton sold 8,000 shares of the business’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $35.59, for a total value of $284,720.00. The disclosure for this sale can be found here. Insiders have sold 324,000 shares of company stock worth $11,309,958 in the last 90 days. Insiders own 45.80% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Hood River Capital Management LLC boosted its position in Tabula Rasa HealthCare by 17.1% in the 4th quarter. Hood River Capital Management LLC now owns 883,290 shares of the company’s stock worth $24,776,000 after purchasing an additional 129,031 shares in the last quarter. Ranger Investment Management L.P. boosted its position in Tabula Rasa HealthCare by 896.7% in the 4th quarter. Ranger Investment Management L.P. now owns 777,341 shares of the company’s stock worth $21,804,000 after purchasing an additional 699,352 shares in the last quarter. BlackRock Inc. boosted its position in Tabula Rasa HealthCare by 2.9% in the 4th quarter. BlackRock Inc. now owns 425,027 shares of the company’s stock worth $11,922,000 after purchasing an additional 12,121 shares in the last quarter. Jennison Associates LLC boosted its position in Tabula Rasa HealthCare by 3.5% in the 4th quarter. Jennison Associates LLC now owns 412,387 shares of the company’s stock worth $11,567,000 after purchasing an additional 13,932 shares in the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new stake in Tabula Rasa HealthCare in the 4th quarter worth approximately $9,559,000. Institutional investors and hedge funds own 47.28% of the company’s stock.

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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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