Tabula Rasa Healthcare Inc. (TRHC) Trading Up 17.2% Following Analyst Upgrade
Tabula Rasa Healthcare Inc. (NASDAQ:TRHC)’s share price was up 17.2% during trading on Tuesday after Robert W. Baird raised their price target on the stock from $17.00 to $18.00. Robert W. Baird currently has an outperform rating on the stock. Tabula Rasa Healthcare traded as high as $18.25 and last traded at $17.42, with a volume of 525,275 shares traded. The stock had previously closed at $14.86.
TRHC has been the topic of a number of other reports. Zacks Investment Research raised shares of Tabula Rasa Healthcare from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. Stifel Nicolaus reaffirmed a “buy” rating and set a $16.00 target price on shares of Tabula Rasa Healthcare in a research report on Friday, July 14th. Chardan Capital started coverage on shares of Tabula Rasa Healthcare in a research report on Monday, July 10th. They set a “buy” rating and a $19.50 target price on the stock. Finally, UBS AG reaffirmed a “buy” rating and set a $17.00 target price (down from $18.00) on shares of Tabula Rasa Healthcare in a research report on Thursday, May 25th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Tabula Rasa Healthcare has a consensus rating of “Buy” and a consensus target price of $17.67.
In related news, insider Orsula V. Knowlton sold 8,000 shares of Tabula Rasa Healthcare stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $11.94, for a total transaction of $95,520.00. Following the transaction, the insider now directly owns 919,407 shares of the company’s stock, valued at $10,977,719.58. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Glen R. Bressner acquired 7,500 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The shares were acquired at an average cost of $11.96 per share, for a total transaction of $89,700.00. Following the completion of the acquisition, the director now owns 18,256 shares of the company’s stock, valued at $218,341.76. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 46,759 shares of company stock worth $634,444. 45.80% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. TIAA CREF Investment Management LLC raised 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. Bank of New York Mellon Corp raised its position in shares of Tabula Rasa Healthcare by 47.2% in the second quarter. Bank of New York Mellon Corp now owns 19,412 shares of the company’s stock valued at $293,000 after buying an additional 6,228 shares during the last quarter. Cadence Capital Management LLC acquired a new position in shares of Tabula Rasa Healthcare during the second quarter valued at about $210,000. Boston Partners raised its position in shares of Tabula Rasa Healthcare by 17.1% in the second quarter. Boston Partners now owns 235,180 shares of the company’s stock valued at $3,540,000 after buying an additional 34,360 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Tabula Rasa Healthcare by 58.1% in the second quarter. Russell Investments Group Ltd. now owns 94,089 shares of the company’s stock valued at $1,415,000 after buying an additional 34,565 shares during the last quarter. 24.99% of the stock is currently owned by institutional investors.
The firm’s market cap is $299.94 million. The stock’s 50-day moving average is $14.71 and its 200 day moving average is $14.02.
Tabula Rasa Healthcare (NASDAQ:TRHC) last released its earnings results on Monday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.06. The business had revenue of $29.70 million for the quarter, compared to analyst estimates of $27.84 million. The company’s revenue was up 32.6% on a year-over-year basis. On average, equities research analysts predict that Tabula Rasa Healthcare Inc. will post $0.41 EPS for the current year.
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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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