Tabula Rasa Healthcare Inc. (TRHC) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Tabula Rasa Healthcare Inc. (NASDAQ:TRHC) released its quarterly earnings results on Monday. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02, Bloomberg Earnings reports. Tabula Rasa Healthcare had a negative return on equity of 6.09% and a negative net margin of 2.27%. The company had revenue of $33.27 million during the quarter, compared to the consensus estimate of $31.76 million. During the same quarter in the prior year, the company posted $0.06 EPS. The firm’s revenue was up 37.6% on a year-over-year basis.
Shares of Tabula Rasa Healthcare (TRHC) opened at $29.90 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.99 and a current ratio of 1.24. Tabula Rasa Healthcare has a 12-month low of $10.39 and a 12-month high of $31.05.
Several analysts recently weighed in on TRHC shares. Piper Jaffray Companies restated a “buy” rating and set a $29.00 target price on shares of Tabula Rasa Healthcare in a research note on Tuesday, October 24th. Chardan Capital increased their target price on Tabula Rasa Healthcare from $19.50 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, August 8th. Stifel Nicolaus restated a “buy” rating and set a $16.00 price target on shares of Tabula Rasa Healthcare in a research report on Friday, July 14th. UBS AG increased their price target on Tabula Rasa Healthcare from $18.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, August 30th. Finally, ValuEngine upgraded Tabula Rasa Healthcare from a “sell” rating to a “hold” rating in a research report on Saturday, September 30th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $28.25.
In related news, insider Orsula V. Knowlton sold 8,000 shares of Tabula Rasa Healthcare stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $26.68, for a total value of $213,440.00. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders sold 24,000 shares of company stock worth $527,920. 45.80% of the stock is owned by company insiders.
A hedge fund recently raised its stake in Tabula Rasa Healthcare stock. California State Teachers Retirement System raised its position in shares of Tabula Rasa Healthcare Inc. (NASDAQ:TRHC) by 60.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,500 shares of the company’s stock after acquiring an additional 6,200 shares during the period. California State Teachers Retirement System owned approximately 0.10% of Tabula Rasa Healthcare worth $248,000 at the end of the most recent quarter. Institutional investors and hedge funds own 27.93% of the company’s stock.
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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