Icon Advisers Inc. Co. Acquires New Stake in Tabula Rasa Healthcare Inc. (TRHC)
Icon Advisers Inc. Co. acquired a new position in shares of Tabula Rasa Healthcare Inc. (NASDAQ:TRHC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 45,445 shares of the company’s stock, valued at approximately $684,000. Icon Advisers Inc. Co. owned approximately 0.26% of Tabula Rasa Healthcare as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. TIAA CREF Investment Management LLC increased its position in shares of Tabula Rasa Healthcare by 108.5% during the first quarter. TIAA CREF Investment Management LLC now owns 8,131 shares of the company’s stock worth $110,000 after acquiring an additional 4,232 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Tabula Rasa Healthcare during the first quarter worth $178,000. Cadence Capital Management LLC bought a new stake in shares of Tabula Rasa Healthcare during the second quarter worth $210,000. Teachers Advisors LLC increased its position in shares of Tabula Rasa Healthcare by 203.5% during the second quarter. Teachers Advisors LLC now owns 16,500 shares of the company’s stock worth $248,000 after acquiring an additional 11,063 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY bought a new stake in shares of Tabula Rasa Healthcare during the second quarter worth $1,165,000. 28.85% of the stock is owned by institutional investors.
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Tabula Rasa Healthcare Inc. (TRHC) opened at 25.13 on Monday. Tabula Rasa Healthcare Inc. has a 52-week low of $10.39 and a 52-week high of $25.20. The company’s market cap is $434.40 million. The company has a 50-day moving average of $23.16 and a 200-day moving average of $19.12.
Tabula Rasa Healthcare (NASDAQ:TRHC) last announced its quarterly earnings results on Monday, August 7th. The company reported $0.06 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.06. The business had revenue of $29.70 million during the quarter, compared to analyst estimates of $27.84 million. Tabula Rasa Healthcare had a negative net margin of 10.27% and a negative return on equity of 9.58%. The business’s revenue for the quarter was up 32.6% compared to the same quarter last year. On average, equities research analysts expect that Tabula Rasa Healthcare Inc. will post $0.39 earnings per share for the current fiscal year.
In other Tabula Rasa Healthcare news, CEO Calvin H. Knowlton sold 8,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $17.21, for a total transaction of $137,680.00. Following the completion of the sale, the chief executive officer now owns 918,362 shares in the company, valued at approximately $15,805,010.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 24,000 shares of company stock valued at $428,080 in the last 90 days. 45.80% of the stock is currently owned by company insiders.
Several equities research analysts have recently issued reports on the stock. UBS AG reissued a “buy” rating and set a $17.00 price objective (down previously from $18.00) on shares of Tabula Rasa Healthcare in a research report on Thursday, May 25th. Piper Jaffray Companies reissued an “overweight” rating and set a $20.00 price objective (up previously from $19.00) on shares of Tabula Rasa Healthcare in a research report on Wednesday, August 9th. Robert W. Baird increased their price objective on shares of Tabula Rasa Healthcare from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 8th. Chardan Capital increased their price objective on shares of Tabula Rasa Healthcare from $19.50 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Finally, Wells Fargo & Company downgraded shares of Tabula Rasa Healthcare from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $17.00 to $21.00 in a research report on Thursday, September 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $19.43.
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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