Tabula Rasa HealthCare Inc (NASDAQ:TRHC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
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. “
Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus lifted their target price on Tabula Rasa HealthCare from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, March 14th. Robert W. Baird set a $17.00 price objective on Tabula Rasa HealthCare and gave the stock a “buy” rating in a research note on Thursday, January 19th. Finally, Piper Jaffray Companies boosted their price objective on Tabula Rasa HealthCare from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 14th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $17.50.
Tabula Rasa HealthCare (NASDAQ:TRHC) opened at 13.40 on Thursday. The company’s market cap is $228.78 million. Tabula Rasa HealthCare has a 12 month low of $10.39 and a 12 month high of $16.85. The stock has a 50 day moving average price of $14.60 and a 200 day moving average price of $13.61.
Tabula Rasa HealthCare (NASDAQ:TRHC) last issued its earnings results on Monday, March 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.01. The firm earned $27.30 million during the quarter, compared to analysts’ expectations of $25.53 million. The company’s revenue was up 37.9% compared to the same quarter last year. Analysts anticipate that Tabula Rasa HealthCare will post $0.42 earnings per share for the current fiscal year.
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A number of large investors have recently modified their holdings of the company. DIAM Co. Ltd. bought a new stake in shares of Tabula Rasa HealthCare during the third quarter valued at $136,000. Laurion Capital Management LP bought a new stake in shares of Tabula Rasa HealthCare during the third quarter valued at $430,000. State Street Corp bought a new stake in shares of Tabula Rasa HealthCare during the fourth quarter valued at $611,000. Russell Investments Group Ltd. bought a new stake in shares of Tabula Rasa HealthCare during the fourth quarter valued at $875,000. Finally, Cortina Asset Management LLC boosted its stake in shares of Tabula Rasa HealthCare by 16.9% in the fourth quarter. Cortina Asset Management LLC now owns 440,685 shares of the company’s stock valued at $6,601,000 after buying an additional 63,627 shares during the last quarter. 23.79% of the stock is currently owned by institutional investors.
Tabula Rasa HealthCare Company Profile
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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