Tabula Rasa Healthcare Inc. (TRHC) Receives $17.33 Average Price Target from Analysts

Shares of Tabula Rasa Healthcare Inc. (NASDAQ:TRHC) have earned an average recommendation of “Buy” from the five research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $17.33.

Several research firms recently issued reports on TRHC. Piper Jaffray Companies increased their price target on shares of Tabula Rasa Healthcare from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 14th. Stifel Nicolaus increased their price target on shares of Tabula Rasa Healthcare from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, March 14th. Finally, Zacks Investment Research lowered shares of Tabula Rasa Healthcare from a “hold” rating to a “sell” rating in a research report on Saturday, March 25th.

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In related news, Director Glen R. Bressner acquired 7,500 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was acquired at an average price of $11.96 per share, with a total value of $89,700.00. Following the purchase, the director now directly owns 18,256 shares in the company, valued at $218,341.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Orsula V. Knowlton sold 8,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $14.02, for a total transaction of $112,160.00. The disclosure for this sale can be found here. Insiders have sold a total of 38,759 shares of company stock worth $520,844 in the last quarter. 45.80% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. TIAA CREF Investment Management LLC increased its position in shares of Tabula Rasa Healthcare by 108.5% in the first quarter. TIAA CREF Investment Management LLC now owns 8,131 shares of the company’s stock valued at $110,000 after buying an additional 4,232 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Tabula Rasa Healthcare by 54.4% in the first quarter. Geode Capital Management LLC now owns 32,209 shares of the company’s stock valued at $434,000 after buying an additional 11,349 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Tabula Rasa Healthcare during the first quarter valued at approximately $178,000. Vanguard Group Inc. increased its position in shares of Tabula Rasa Healthcare by 22.7% in the first quarter. Vanguard Group Inc. now owns 208,967 shares of the company’s stock valued at $2,817,000 after buying an additional 38,720 shares during the last quarter. Finally, State Street Corp bought a new position in shares of Tabula Rasa Healthcare during the fourth quarter valued at approximately $611,000. 25.42% of the stock is owned by institutional investors and hedge funds.

Tabula Rasa Healthcare (NASDAQ TRHC) traded down 1.88% during midday trading on Tuesday, reaching $13.54. The company’s stock had a trading volume of 130,687 shares. Tabula Rasa Healthcare has a 52 week low of $10.39 and a 52 week high of $16.85. The firm’s market cap is $233.13 million. The firm has a 50 day moving average price of $13.32 and a 200-day moving average price of $13.79.

Tabula Rasa Healthcare (NASDAQ:TRHC) last announced its earnings results on Monday, May 1st. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by $0.02. The business had revenue of $27.70 million for the quarter, compared to analysts’ expectations of $26 million. The company’s revenue for the quarter was up 37.1% on a year-over-year basis. On average, analysts forecast that Tabula Rasa Healthcare will post $0.41 earnings per share for the current fiscal year.

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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