Tabula Rasa HealthCare (TRHC) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Tabula Rasa HealthCare (NASDAQ:TRHC) from a hold rating to a buy rating in a research note published on Saturday. Zacks Investment Research currently has $74.00 price target 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 the stock. BidaskClub raised shares of Tabula Rasa HealthCare from a buy rating to a strong-buy rating in a report on Tuesday, April 24th. ValuEngine upgraded shares of Tabula Rasa HealthCare from a hold rating to a buy rating in a research report on Wednesday, May 2nd. Piper Jaffray Companies restated an overweight rating and set a $46.00 target price on shares of Tabula Rasa HealthCare in a research report on Wednesday, May 9th. Citigroup restated a buy rating and set a $57.00 target price on shares of Tabula Rasa HealthCare in a research report on Wednesday, May 9th. Finally, Chardan Capital boosted their target price on shares of Tabula Rasa HealthCare from $50.00 to $68.00 and gave the company a buy rating in a research report on Friday, May 18th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average price target of $55.36.

Tabula Rasa HealthCare traded up $0.46, hitting $66.25, during trading on Friday, MarketBeat reports. 371,883 shares of the company’s stock traded hands, compared to its average volume of 314,938. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 346.26, a PEG ratio of 5.85 and a beta of 2.03. The company has a quick ratio of 0.41, a current ratio of 0.36 and a debt-to-equity ratio of 0.11. Tabula Rasa HealthCare has a 1 year low of $16.72 and a 1 year high of $70.15.

Tabula Rasa HealthCare (NASDAQ:TRHC) last issued its quarterly earnings data on Tuesday, August 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.12. The company had revenue of $48.60 million for the quarter, compared to analyst estimates of $46.73 million. Tabula Rasa HealthCare had a negative net margin of 16.78% and a positive return on equity of 4.55%. analysts anticipate that Tabula Rasa HealthCare will post 0.52 EPS for the current fiscal year.

In other Tabula Rasa HealthCare news, CEO Calvin H. Knowlton sold 8,000 shares of the company’s stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $53.94, for a total value of $431,520.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce Luehrs sold 85,842 shares of the company’s stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $50.66, for a total transaction of $4,348,755.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 233,842 shares of company stock valued at $12,070,820. Insiders own 14.00% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Envestnet Asset Management Inc. bought a new stake in shares of Tabula Rasa HealthCare in the 2nd quarter valued at about $130,000. Citadel Advisors LLC lifted its stake in shares of Tabula Rasa HealthCare by 47.0% in the 2nd quarter. Citadel Advisors LLC now owns 8,855 shares of the company’s stock valued at $565,000 after acquiring an additional 2,832 shares during the last quarter. Credit Agricole S A bought a new stake in shares of Tabula Rasa HealthCare in the 2nd quarter valued at about $766,000. Meadow Creek Investment Management LLC bought a new stake in shares of Tabula Rasa HealthCare in the 2nd quarter valued at about $115,000. Finally, Great West Life Assurance Co. Can lifted its stake in shares of Tabula Rasa HealthCare by 9.5% in the 2nd quarter. Great West Life Assurance Co. Can now owns 17,454 shares of the company’s stock valued at $1,114,000 after acquiring an additional 1,514 shares during the last quarter. Institutional investors and hedge funds own 65.07% of the company’s stock.

Tabula Rasa HealthCare Company Profile

Tabula Rasa HealthCare, Inc operates as a healthcare technology company in the United States. It offers medication risk management, pharmacy cost management, and medicare risk adjustment services. The company offers its technology-enabled products and services to prescribers, pharmacists, and healthcare organizations for medication risk management and risk adjustment.

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