Piper Jaffray Companies Reiterates Overweight Rating for Tabula Rasa Healthcare Inc. (NASDAQ:TRHC)
Tabula Rasa Healthcare Inc. (NASDAQ:TRHC)‘s stock had its “overweight” rating reissued by stock analysts at Piper Jaffray Companies in a report issued on Wednesday. They presently have a $20.00 price target on the stock, up from their prior price target of $19.00. Piper Jaffray Companies’ price objective indicates a potential upside of 17.72% from the stock’s previous close.
TRHC has been the topic of several other research reports. Chardan Capital began coverage on shares of Tabula Rasa Healthcare in a report on Monday, July 10th. They set a “buy” rating and a $19.50 target price on the stock. UBS AG reaffirmed a “buy” rating and set a $17.00 target price (down previously from $18.00) on shares of Tabula Rasa Healthcare in a report on Thursday, May 25th. Zacks Investment Research raised shares of Tabula Rasa Healthcare from a “sell” rating to a “hold” rating in a report on Thursday, April 13th. Stifel Nicolaus reduced their target price on shares of Tabula Rasa Healthcare from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, May 2nd. Finally, Robert W. Baird increased their price target on shares of Tabula Rasa Healthcare from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Tabula Rasa Healthcare has a consensus rating of “Buy” and a consensus target price of $17.83.
Shares of Tabula Rasa Healthcare (NASDAQ TRHC) traded down 2.47% during mid-day trading on Wednesday, reaching $16.99. 95,272 shares of the company’s stock were exchanged. Tabula Rasa Healthcare has a 52-week low of $10.39 and a 52-week high of $17.88. The firm’s market cap is $292.53 million. The company has a 50 day moving average price of $14.71 and a 200 day moving average price of $14.02.
Tabula Rasa Healthcare (NASDAQ:TRHC) last issued its quarterly earnings results on Monday, August 7th. The company reported $0.06 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.06. The firm had revenue of $29.70 million for the quarter, compared to analyst estimates of $27.84 million. Tabula Rasa Healthcare had a negative net margin of 10.27% and a negative return on equity of 12.06%. The company’s revenue was up 32.6% compared to the same quarter last year. Analysts forecast that Tabula Rasa Healthcare will post $0.41 earnings per share for the current fiscal year.
In related news, Director Glen R. Bressner bought 7,500 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was purchased at an average cost of $11.96 per share, with a total value of $89,700.00. Following the transaction, the director now owns 18,256 shares in the company, valued at approximately $218,341.76. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Orsula V. Knowlton sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $14.20, for a total transaction of $113,600.00. Following the completion of the sale, the insider now directly owns 903,407 shares of the company’s stock, valued at $12,828,379.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,759 shares of company stock valued at $634,444. Corporate insiders own 45.80% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Cadence Capital Management LLC bought a new stake in Tabula Rasa Healthcare during the second quarter valued at approximately $210,000. Bank of New York Mellon Corp boosted its stake in Tabula Rasa Healthcare by 47.2% in the second quarter. Bank of New York Mellon Corp now owns 19,412 shares of the company’s stock valued at $293,000 after buying an additional 6,228 shares in the last quarter. Boston Partners boosted its stake in Tabula Rasa Healthcare by 17.1% in the second quarter. Boston Partners now owns 235,180 shares of the company’s stock valued at $3,540,000 after buying an additional 34,360 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Tabula Rasa Healthcare by 58.1% in the second quarter. Russell Investments Group Ltd. now owns 94,089 shares of the company’s stock valued at $1,415,000 after buying an additional 34,565 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in Tabula Rasa Healthcare by 108.5% in the first quarter. TIAA CREF Investment Management LLC now owns 8,131 shares of the company’s stock valued at $110,000 after buying an additional 4,232 shares in the last quarter. 24.99% of the stock is owned by hedge funds and other institutional investors.
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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