Putnam Investments LLC bought a new position in Tabula Rasa HealthCare Inc (NASDAQ:TRHC) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 34,739 shares of the company’s stock, valued at approximately $2,217,000. Putnam Investments LLC owned 0.17% of Tabula Rasa HealthCare as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. MetLife Investment Advisors LLC increased its stake in Tabula Rasa HealthCare by 64.7% in the second quarter. MetLife Investment Advisors LLC now owns 8,170 shares of the company’s stock worth $521,000 after purchasing an additional 3,208 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in Tabula Rasa HealthCare by 63.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 5,770 shares of the company’s stock worth $368,000 after purchasing an additional 2,243 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Tabula Rasa HealthCare in the second quarter worth $294,000. Bank of America Corp DE increased its stake in Tabula Rasa HealthCare by 26.3% in the second quarter. Bank of America Corp DE now owns 44,551 shares of the company’s stock worth $2,844,000 after purchasing an additional 9,282 shares during the period. Finally, Voya Investment Management LLC purchased a new stake in Tabula Rasa HealthCare in the second quarter worth $422,000. Institutional investors and hedge funds own 75.15% of the company’s stock.

In related news, CEO Calvin H. Knowlton sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, July 17th. The stock was sold at an average price of $67.48, for a total transaction of $539,840.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 48,000 shares of company stock worth $3,473,920. 14.00% of the stock is owned by corporate insiders.

TRHC has been the topic of a number of recent research reports. Robert W. Baird reissued a “buy” rating and set a $70.00 price target on shares of Tabula Rasa HealthCare in a research report on Wednesday, August 8th. Zacks Investment Research downgraded Tabula Rasa HealthCare from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Stifel Nicolaus initiated coverage on Tabula Rasa HealthCare in a research report on Tuesday, September 11th. They set a “hold” rating and a $95.00 price target on the stock. Oppenheimer increased their price target on Tabula Rasa HealthCare from $65.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, August 23rd. Finally, Piper Jaffray Companies increased their price target on Tabula Rasa HealthCare to $71.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 8th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $69.75.

TRHC opened at $79.46 on Thursday. Tabula Rasa HealthCare Inc has a 12-month low of $24.24 and a 12-month high of $91.16. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.33 and a current ratio of 0.36. The firm has a market cap of $1.63 billion, a PE ratio of -1,986.75, a PEG ratio of 6.19 and a beta of 2.71.

Tabula Rasa HealthCare (NASDAQ:TRHC) last posted its quarterly earnings results on Tuesday, August 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.12. Tabula Rasa HealthCare had a positive return on equity of 4.55% and a negative net margin of 16.78%. The business had revenue of $48.60 million for the quarter, compared to the consensus estimate of $46.73 million. equities analysts expect that Tabula Rasa HealthCare Inc will post 0.52 EPS for the current year.

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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Institutional Ownership by Quarter for Tabula Rasa HealthCare (NASDAQ:TRHC)

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