According to Zacks, “Tabula Rasa HealthCare, Inc. is a provider of patient-specific, data-driven technology and solutions which enable healthcare organizations to optimize medication regimens to improve patient outcomes, reduce hospitalizations, lower healthcare costs and manage risk. The company’s cloud-based software applications including EireneRx and MedWise Advisor which provide solutions to payers, providers and other healthcare organizations. Tabula Rasa HealthCare, Inc. is based in NJ, United States. “
Other research analysts also recently issued reports about the company. Cantor Fitzgerald reaffirmed a “buy” rating and set a $99.00 price target on shares of Tabula Rasa HealthCare in a report on Monday. Guggenheim assumed coverage on Tabula Rasa HealthCare in a report on Wednesday, April 17th. They set a “neutral” rating and a $58.00 price target on the stock. BidaskClub raised Tabula Rasa HealthCare from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. ValuEngine downgraded Tabula Rasa HealthCare from a “buy” rating to a “hold” rating in a report on Monday. Finally, Piper Jaffray Companies upped their price target on Tabula Rasa HealthCare from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $80.53.
Tabula Rasa HealthCare (NASDAQ:TRHC) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.14). The firm had revenue of $60.96 million for the quarter, compared to the consensus estimate of $59.24 million. Tabula Rasa HealthCare had a positive return on equity of 4.22% and a negative net margin of 18.15%. On average, equities research analysts predict that Tabula Rasa HealthCare will post -0.63 EPS for the current year.
In related news, CEO Calvin H. Knowlton sold 8,000 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $54.50, for a total transaction of $436,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Calvin H. Knowlton sold 8,270 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $53.68, for a total value of $443,933.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,270 shares of company stock valued at $2,645,294. Company insiders own 14.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Tabula Rasa HealthCare by 1.8% during the first quarter. BlackRock Inc. now owns 2,647,485 shares of the company’s stock valued at $149,370,000 after buying an additional 46,601 shares during the last quarter. Vanguard Group Inc lifted its stake in shares of Tabula Rasa HealthCare by 6.9% in the 3rd quarter. Vanguard Group Inc now owns 967,769 shares of the company’s stock valued at $78,573,000 after purchasing an additional 62,267 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Tabula Rasa HealthCare by 6.9% in the 3rd quarter. Vanguard Group Inc. now owns 967,769 shares of the company’s stock valued at $78,573,000 after purchasing an additional 62,267 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Tabula Rasa HealthCare by 17.2% in the 1st quarter. Jennison Associates LLC now owns 885,611 shares of the company’s stock valued at $49,966,000 after purchasing an additional 130,137 shares during the last quarter. Finally, M&T Bank Corp bought a new stake in shares of Tabula Rasa HealthCare in the 4th quarter valued at approximately $33,749,000. 76.85% of the stock is owned by institutional investors.
About Tabula Rasa HealthCare
Tabula Rasa HealthCare, Inc operates as a healthcare technology company in the field of medication safety in the United States. The company's proprietary Medication Risk Mitigation Matrix delivers a multi-drug review, which identifies medication-related risks. Its cloud-based software applications include EireneRx, a medication decision-support and e-prescribing platform to access patients' medication-related information; and MedWise that provides medication decision support components for clients seeking to manage their medication risk and improve medication outcomes, and patient relationships by enhancing their existing systems.
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