Tabula Rasa Healthcare Inc. (TRHC) Upgraded to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Tabula Rasa Healthcare Inc. (NASDAQ:TRHC) from a hold rating to a strong-buy rating in a research report released on Wednesday. The firm currently has $31.00 price objective on the stock.

According to Zacks, “Tabula Rasa HealthCare, Inc. is a provider of patient-specific, data-driven technology and solutions which enable healthcare organizations to optimize medication regimens to improve patient outcomes, reduce hospitalizations, lower healthcare costs and manage risk. The company’s cloud-based software applications including EireneRx and MedWise Advisor which provide solutions to payers, providers and other healthcare organizations. Tabula Rasa HealthCare, Inc. is based in NJ, United States. “

A number of other equities research analysts have also weighed in on TRHC. Piper Jaffray Companies reissued an overweight rating and set a $20.00 target price (up from $19.00) on shares of Tabula Rasa Healthcare in a report on Wednesday, August 9th. ValuEngine raised shares of Tabula Rasa Healthcare from a sell rating to a hold rating in a report on Saturday, September 30th. Robert W. Baird boosted their target price on shares of Tabula Rasa Healthcare from $17.00 to $18.00 and gave the stock an outperform rating in a report on Tuesday, August 8th. Chardan Capital boosted their target price on shares of Tabula Rasa Healthcare from $19.50 to $21.00 and gave the stock a buy rating in a report on Tuesday, August 8th. Finally, Wells Fargo & Company lowered shares of Tabula Rasa Healthcare from an outperform rating to a market perform rating and boosted their target price for the stock from $17.00 to $21.00 in a report on Thursday, September 7th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $23.00.

Shares of Tabula Rasa Healthcare (NASDAQ TRHC) traded up 0.935% during trading on Wednesday, reaching $27.525. 40,224 shares of the company traded hands. Tabula Rasa Healthcare has a 12-month low of $10.39 and a 12-month high of $28.53. The firm’s market capitalization is $475.80 million. The company has a 50 day moving average price of $26.07 and a 200 day moving average price of $26.07.

Tabula Rasa Healthcare (NASDAQ:TRHC) last posted its earnings results on Monday, August 7th. The company reported $0.06 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.06. Tabula Rasa Healthcare had a negative net margin of 10.27% and a negative return on equity of 9.58%. The firm had revenue of $29.70 million for the quarter, compared to analyst estimates of $27.84 million. The firm’s revenue was up 32.6% compared to the same quarter last year. On average, equities analysts predict that Tabula Rasa Healthcare will post $0.40 EPS for the current year.

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In other news, insider Orsula V. Knowlton sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $14.20, for a total value of $113,600.00. Following the transaction, the insider now owns 903,407 shares in the company, valued at approximately $12,828,379.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 24,000 shares of company stock worth $428,080 in the last 90 days. Corporate insiders own 45.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System lifted its position in shares of Tabula Rasa Healthcare by 60.2% in the 2nd quarter. California State Teachers Retirement System now owns 16,500 shares of the company’s stock worth $248,000 after purchasing an additional 6,200 shares during the period. State Street Corp lifted its position in shares of Tabula Rasa Healthcare by 38.9% in the 2nd quarter. State Street Corp now owns 69,673 shares of the company’s stock worth $1,051,000 after purchasing an additional 19,506 shares during the period. Intrinsic Edge Capital Management LLC acquired a new position in shares of Tabula Rasa Healthcare in the 2nd quarter worth approximately $461,000. Hood River Capital Management LLC lifted its position in shares of Tabula Rasa Healthcare by 7.5% in the 2nd quarter. Hood River Capital Management LLC now owns 825,225 shares of the company’s stock worth $12,420,000 after purchasing an additional 57,724 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Tabula Rasa Healthcare by 13.4% in the 2nd quarter. Vanguard Group Inc. now owns 236,964 shares of the company’s stock worth $3,566,000 after purchasing an additional 27,997 shares during the period. Hedge funds and other institutional investors own 28.85% of the company’s stock.

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.

Analyst Recommendations for Tabula Rasa Healthcare (NASDAQ:TRHC)

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