Tabula Rasa HealthCare (NASDAQ:TRHC) had its price objective hoisted by research analysts at Oppenheimer from $35.00 to $47.00 in a research note issued on Tuesday. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential upside of 24.34% from the company’s current price.
Other analysts have also issued research reports about the company. BidaskClub lowered Tabula Rasa HealthCare from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 6th. Citigroup started coverage on Tabula Rasa HealthCare in a research note on Thursday, January 4th. They issued a “buy” rating for the company. Zacks Investment Research lowered Tabula Rasa HealthCare from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. William Blair reaffirmed an “outperform” rating on shares of Tabula Rasa HealthCare in a research note on Tuesday. Finally, Piper Jaffray Companies raised their price target on Tabula Rasa HealthCare to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Tabula Rasa HealthCare currently has a consensus rating of “Buy” and an average price target of $32.00.
Shares of Tabula Rasa HealthCare (TRHC) opened at $37.80 on Tuesday. Tabula Rasa HealthCare has a 52 week low of $11.59 and a 52 week high of $39.81. The company has a market capitalization of $652.20, a price-to-earnings ratio of -151.20, a P/E/G ratio of 3.81 and a beta of 3.60. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 0.47.
In other Tabula Rasa HealthCare news, CEO Calvin H. Knowlton sold 8,000 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $32.75, for a total transaction of $262,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian W. Adams acquired 5,391 shares of the stock in a transaction on Friday, January 12th. The shares were purchased at an average cost of $14.23 per share, with a total value of $76,713.93. The disclosure for this purchase can be found here. Insiders have sold 295,021 shares of company stock valued at $10,167,309 in the last three months. Insiders own 45.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Paradigm Capital Management Inc. NY lifted its position in Tabula Rasa HealthCare by 3.0% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 82,400 shares of the company’s stock valued at $2,311,000 after buying an additional 2,400 shares during the period. Wells Fargo & Company MN lifted its position in Tabula Rasa HealthCare by 26.1% during the fourth quarter. Wells Fargo & Company MN now owns 16,100 shares of the company’s stock valued at $452,000 after buying an additional 3,332 shares during the period. Strs Ohio purchased a new position in Tabula Rasa HealthCare during the fourth quarter valued at $137,000. MetLife Investment Advisors LLC purchased a new position in shares of Tabula Rasa HealthCare in the 4th quarter worth about $139,000. Finally, California State Teachers Retirement System raised 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 last quarter. 53.03% of the stock is owned by institutional investors and hedge funds.
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.
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