Bank of New York Mellon Corp Raises Position in Tabula Rasa HealthCare Inc (TRHC)
Bank of New York Mellon Corp increased its stake in shares of Tabula Rasa HealthCare Inc (NASDAQ:TRHC) by 34.2% in the 2nd quarter, Holdings Channel reports. The firm owned 214,062 shares of the company’s stock after buying an additional 54,507 shares during the quarter. Bank of New York Mellon Corp’s holdings in Tabula Rasa HealthCare were worth $13,664,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Mount Yale Investment Advisors LLC purchased a new stake in shares of Tabula Rasa HealthCare during the 2nd quarter valued at $111,000. Putnam Investments LLC purchased a new stake in shares of Tabula Rasa HealthCare during the 2nd quarter valued at $2,217,000. MetLife Investment Advisors LLC grew its stake in shares of Tabula Rasa HealthCare by 64.7% during the 2nd quarter. MetLife Investment Advisors LLC now owns 8,170 shares of the company’s stock valued at $521,000 after buying an additional 3,208 shares during the period. Metropolitan Life Insurance Co. NY grew its stake in shares of Tabula Rasa HealthCare by 63.6% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 5,770 shares of the company’s stock valued at $368,000 after buying an additional 2,243 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Tabula Rasa HealthCare during the 2nd quarter valued at $294,000. Hedge funds and other institutional investors own 74.88% of the company’s stock.
In other Tabula Rasa HealthCare news, President Orsula V. Knowlton bought 7,500 shares of Tabula Rasa HealthCare stock in a transaction that occurred on Monday, November 12th. The shares were acquired at an average price of $65.00 per share, for a total transaction of $487,500.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, President Orsula V. Knowlton sold 8,000 shares of the business’s stock in a transaction on Wednesday, October 17th. The stock was sold at an average price of $81.01, for a total transaction of $648,080.00. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock worth $3,655,920 in the last 90 days. Company insiders own 14.00% of the company’s stock.
Tabula Rasa HealthCare (NASDAQ:TRHC) last posted its earnings results on Tuesday, November 6th. The company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.07. The business had revenue of $54.42 million for the quarter, compared to analyst estimates of $52.87 million. Tabula Rasa HealthCare had a negative net margin of 13.49% and a positive return on equity of 7.63%. The business’s quarterly revenue was up 66.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 EPS. Sell-side analysts forecast that Tabula Rasa HealthCare Inc will post 0.42 EPS for the current year.
Several analysts have recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Tabula Rasa HealthCare in a research note on Tuesday, September 11th. They set a “hold” rating and a $95.00 price objective for the company. Cantor Fitzgerald assumed coverage on shares of Tabula Rasa HealthCare in a report on Thursday, September 6th. They set an “overweight” rating and a $99.00 target price on the stock. BidaskClub lowered shares of Tabula Rasa HealthCare from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 15th. Oppenheimer lifted their target price on shares of Tabula Rasa HealthCare from $65.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, August 23rd. Finally, Robert W. Baird lifted their target price on shares of Tabula Rasa HealthCare from $70.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, September 19th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $82.50.
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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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