Tabula Rasa HealthCare Inc (NASDAQ:TRHC) shares fell 7.1% during mid-day trading on Tuesday following a dissappointing earnings announcement. The company traded as low as $34.01 and last traded at $35.12. 595,098 shares changed hands during trading, an increase of 143% from the average session volume of 244,469 shares. The stock had previously closed at $37.80.
The company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.03). The company had revenue of $43.93 million during the quarter, compared to analysts’ expectations of $38.91 million. Tabula Rasa HealthCare had a negative return on equity of 5.58% and a negative net margin of 2.27%. The firm’s quarterly revenue was up 60.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 EPS.
Several research firms have recently commented on TRHC. CIBC reiterated an “outperform” rating and issued a $47.00 price objective (up previously from $35.00) on shares of Tabula Rasa HealthCare in a report on Tuesday. Oppenheimer lifted their price objective on Tabula Rasa HealthCare from $35.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday. William Blair reiterated an “outperform” rating on shares of Tabula Rasa HealthCare in a report on Tuesday. Zacks Investment Research upgraded Tabula Rasa HealthCare from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective on the stock in a report on Thursday, January 11th. Finally, Piper Jaffray Companies lifted their price objective on Tabula Rasa HealthCare to $43.00 and gave the stock an “overweight” rating in a report on Tuesday. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $33.50.
A number of large investors have recently made changes to their positions in the stock. Strs Ohio purchased a new position in shares of Tabula Rasa HealthCare during the 4th quarter worth approximately $137,000. MetLife Investment Advisors LLC purchased a new position in shares of Tabula Rasa HealthCare during the 4th quarter worth approximately $139,000. New York State Common Retirement Fund grew its holdings in shares of Tabula Rasa HealthCare by 257.0% during the 2nd quarter. New York State Common Retirement Fund now owns 10,000 shares of the company’s stock worth $151,000 after acquiring an additional 7,199 shares during the period. BlueCrest Capital Management Ltd purchased a new position in shares of Tabula Rasa HealthCare during the 4th quarter worth approximately $237,000. Finally, Teachers Advisors LLC grew its holdings in shares of Tabula Rasa HealthCare by 203.5% during the 2nd quarter. Teachers Advisors LLC now owns 16,500 shares of the company’s stock worth $248,000 after acquiring an additional 11,063 shares during the period. Institutional investors own 53.03% of the company’s stock.
The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $652.20, a price-to-earnings ratio of -140.68, a price-to-earnings-growth ratio of 3.81 and a beta of 3.60.
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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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