CIBC reaffirmed their outperform rating on shares of Tabula Rasa HealthCare (NASDAQ:TRHC) in a research report sent to investors on Tuesday. CIBC currently has a $47.00 price target on the stock, up from their prior price target of $35.00.
A number of other research firms have also commented on TRHC. Piper Jaffray Companies increased their price target on Tabula Rasa HealthCare to $43.00 and gave the company an overweight rating in a research report on Tuesday. Oppenheimer increased their price target on Tabula Rasa HealthCare from $35.00 to $47.00 and gave the company an outperform rating in a research report on Tuesday. Zacks Investment Research lowered Tabula Rasa HealthCare from a buy rating to a hold rating in a research report on Wednesday, March 7th. BidaskClub lowered Tabula Rasa HealthCare from a buy rating to a hold rating in a research report on Friday, December 15th. Finally, Citigroup started coverage on Tabula Rasa HealthCare in a research report on Thursday, January 4th. They issued a buy rating for the company. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Tabula Rasa HealthCare has an average rating of Buy and an average target price of $33.50.
Shares of Tabula Rasa HealthCare (NASDAQ:TRHC) opened at $35.12 on Tuesday. The company has a market capitalization of $696.90 and a price-to-earnings ratio of -206.59. Tabula Rasa HealthCare has a 12-month low of $11.59 and a 12-month high of $39.81. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.73 and a quick ratio of 0.66.
In other news, CEO Calvin H. Knowlton sold 8,000 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $32.75, for a total transaction of $262,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian W. Adams bought 5,391 shares of the firm’s stock in a transaction dated Friday, January 12th. The shares were acquired at an average cost of $14.23 per share, with a total value of $76,713.93. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 295,021 shares of company stock valued at $10,167,309. Insiders own 45.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Strs Ohio purchased a new stake in shares of Tabula Rasa HealthCare during the 4th quarter valued at $137,000. MetLife Investment Advisors LLC purchased a new stake in shares of Tabula Rasa HealthCare during the 4th quarter valued at $139,000. New York State Common Retirement Fund increased its position in shares of Tabula Rasa HealthCare by 257.0% during the 2nd quarter. New York State Common Retirement Fund now owns 10,000 shares of the company’s stock valued at $151,000 after purchasing an additional 7,199 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new stake in shares of Tabula Rasa HealthCare during the 4th quarter valued at $237,000. Finally, Teachers Advisors LLC increased its position in shares of Tabula Rasa HealthCare by 203.5% during the 2nd quarter. Teachers Advisors LLC now owns 16,500 shares of the company’s stock valued at $248,000 after purchasing an additional 11,063 shares during the last quarter. 53.03% of the stock is owned by hedge funds and other institutional investors.
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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