Tabula Rasa HealthCare (NASDAQ:TRHC) Lifted to “Buy” at BidaskClub

BidaskClub upgraded shares of Tabula Rasa HealthCare (NASDAQ:TRHC) from a hold rating to a buy rating in a report issued on Friday, BidAskClub reports.

TRHC has been the subject of a number of other reports. Piper Jaffray Companies increased their price target on Beigene to $180.00 and gave the company an overweight rating in a research report on Thursday, May 9th. Guggenheim started coverage on Patterson Companies in a research report on Wednesday, April 17th. They set a neutral rating and a $23.00 price target for the company. Zacks Investment Research downgraded GENEL ENERGY PL/ADR from a hold rating to a sell rating in a research report on Thursday, July 4th. ValuEngine raised Zillow Group from a hold rating to a buy rating in a research report on Thursday, July 11th. Finally, TheStreet downgraded Twin Disc from a b- rating to a c+ rating in a research report on Tuesday, June 11th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $82.12.

Shares of TRHC opened at $54.95 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.80 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $1.19 billion, a P/E ratio of 161.62 and a beta of 1.63. The firm’s 50 day simple moving average is $48.66. Tabula Rasa HealthCare has a 12 month low of $40.86 and a 12 month high of $91.16.

Tabula Rasa HealthCare (NASDAQ:TRHC) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.14) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.14). The company had revenue of $60.96 million during the quarter, compared to the consensus estimate of $59.24 million. Tabula Rasa HealthCare had a positive return on equity of 4.22% and a negative net margin of 18.15%. Sell-side analysts anticipate that Tabula Rasa HealthCare will post -0.55 EPS for the current year.

In other news, CEO Calvin H. Knowlton sold 8,000 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $44.08, for a total value of $352,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Calvin H. Knowlton sold 8,270 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $53.68, for a total value of $443,933.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,270 shares of company stock valued at $2,457,654. 11.80% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. LPL Financial LLC increased its holdings in shares of Tabula Rasa HealthCare by 47.6% in the 4th quarter. LPL Financial LLC now owns 6,105 shares of the company’s stock valued at $389,000 after purchasing an additional 1,968 shares during the period. BlackRock Inc. increased its holdings in shares of Tabula Rasa HealthCare by 1.6% in the 4th quarter. BlackRock Inc. now owns 2,600,884 shares of the company’s stock valued at $165,831,000 after purchasing an additional 40,174 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Tabula Rasa HealthCare by 8.6% in the 4th quarter. Bank of New York Mellon Corp now owns 280,883 shares of the company’s stock valued at $17,910,000 after purchasing an additional 22,270 shares during the period. Texas Permanent School Fund increased its holdings in shares of Tabula Rasa HealthCare by 5.1% in the 4th quarter. Texas Permanent School Fund now owns 11,116 shares of the company’s stock valued at $709,000 after purchasing an additional 544 shares during the period. Finally, Commonwealth Equity Services LLC grew its stake in shares of Tabula Rasa HealthCare by 97.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,421 shares of the company’s stock valued at $664,000 after buying an additional 5,151 shares in the last quarter. 85.92% of the stock is owned by hedge funds and other institutional investors.

About Tabula Rasa HealthCare

Tabula Rasa HealthCare, Inc operates as a healthcare technology company in the field of medication safety in the United States. The company's proprietary Medication Risk Mitigation Matrix delivers a multi-drug review, which identifies medication-related risks. Its cloud-based software applications include EireneRx, a medication decision-support and e-prescribing platform to access patients' medication-related information; and MedWise that provides medication decision support components for clients seeking to manage their medication risk and improve medication outcomes, and patient relationships by enhancing their existing systems.

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Analyst Recommendations for Tabula Rasa HealthCare (NASDAQ:TRHC)

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