Tabula Rasa HealthCare (TRHC) Downgraded by BidaskClub to Hold
BidaskClub cut shares of Tabula Rasa HealthCare (NASDAQ:TRHC) from a buy rating to a hold rating in a research note published on Friday.
A number of other brokerages have also weighed in on TRHC. William Blair started coverage on shares of Tabula Rasa HealthCare in a research report on Monday, December 11th. They issued an outperform rating on the stock. Zacks Investment Research lowered shares of Tabula Rasa HealthCare from a strong-buy rating to a hold rating in a research report on Friday, November 10th. Piper Jaffray Companies restated an overweight rating and issued a $35.00 target price on shares of Tabula Rasa HealthCare in a research report on Tuesday, November 7th. They noted that the move was a valuation call. First Analysis started coverage on shares of Tabula Rasa HealthCare in a research report on Wednesday, November 1st. They issued an overweight rating and a $41.00 target price on the stock. Finally, Wells Fargo & Company raised their target price on shares of Tabula Rasa HealthCare from $21.00 to $27.00 and gave the company a market perform rating in a research report on Thursday, October 19th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $28.25.
Shares of Tabula Rasa HealthCare (NASDAQ:TRHC) traded up $0.03 during trading hours on Friday, reaching $28.16. 287,010 shares of the company were exchanged, compared to its average volume of 241,563. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 0.47. Tabula Rasa HealthCare has a fifty-two week low of $11.59 and a fifty-two week high of $36.80.
In other news, major shareholder Growth Fund 1Q Lp Originate sold 684,180 shares of Tabula Rasa HealthCare stock in a transaction on Monday, December 11th. The shares were sold at an average price of $25.85, for a total transaction of $17,686,053.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Orsula V. Knowlton sold 8,000 shares of Tabula Rasa HealthCare stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $26.68, for a total transaction of $213,440.00. The disclosure for this sale can be found here. Insiders sold 1,099,180 shares of company stock worth $28,435,203 in the last 90 days. Company insiders own 45.80% of the company’s stock.
Large investors have recently modified their holdings of the company. TIAA CREF Investment Management LLC lifted its holdings in shares of Tabula Rasa HealthCare by 108.5% during the first quarter. TIAA CREF Investment Management LLC now owns 8,131 shares of the company’s stock worth $110,000 after purchasing an additional 4,232 shares during the period. Financial Consulate Inc. acquired a new position in shares of Tabula Rasa HealthCare during the third quarter worth $222,000. Rhumbline Advisers acquired a new position in shares of Tabula Rasa HealthCare during the third quarter worth $253,000. California Public Employees Retirement System acquired a new position in shares of Tabula Rasa HealthCare during the third quarter worth $254,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of Tabula Rasa HealthCare by 257.0% during the second quarter. New York State Common Retirement Fund now owns 10,000 shares of the company’s stock worth $151,000 after purchasing an additional 7,199 shares during the period. Institutional investors own 31.85% of the company’s stock.
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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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