Tabula Rasa HealthCare Inc (NASDAQ:TRHC) Expected to Post Quarterly Sales of $70.16 Million

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Analysts predict that Tabula Rasa HealthCare Inc (NASDAQ:TRHC) will announce $70.16 million in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Tabula Rasa HealthCare’s earnings. The highest sales estimate is $71.96 million and the lowest is $68.26 million. Tabula Rasa HealthCare posted sales of $48.60 million in the same quarter last year, which would indicate a positive year over year growth rate of 44.4%. The firm is scheduled to announce its next earnings report on Tuesday, August 6th.

According to Zacks, analysts expect that Tabula Rasa HealthCare will report full year sales of $287.00 million for the current fiscal year, with estimates ranging from $283.54 million to $289.80 million. For the next financial year, analysts expect that the firm will report sales of $352.22 million, with estimates ranging from $334.90 million to $362.10 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Tabula Rasa HealthCare.

Tabula Rasa HealthCare (NASDAQ:TRHC) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). The business had revenue of $60.96 million for the quarter, compared to the consensus estimate of $59.24 million. Tabula Rasa HealthCare had a negative net margin of 18.15% and a positive return on equity of 4.22%.

A number of research firms have recently weighed in on TRHC. BidaskClub upgraded shares of Tabula Rasa HealthCare from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. First Analysis upgraded shares of Tabula Rasa HealthCare from an “outperform” rating to a “strong-buy” rating and set a $58.33 target price on the stock in a report on Monday, March 11th. Cantor Fitzgerald reiterated a “buy” rating and issued a $99.00 target price on shares of Tabula Rasa HealthCare in a report on Thursday, February 28th. Oppenheimer dropped their target price on shares of Tabula Rasa HealthCare from $97.00 to $88.00 and set an “outperform” rating on the stock in a report on Wednesday, March 6th. Finally, Zacks Investment Research upgraded shares of Tabula Rasa HealthCare from a “hold” rating to a “strong-buy” rating and set a $61.00 target price on the stock in a report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Tabula Rasa HealthCare has an average rating of “Buy” and a consensus price target of $82.12.

Shares of Tabula Rasa HealthCare stock traded up $0.03 during midday trading on Tuesday, reaching $43.86. 341,355 shares of the company’s stock traded hands, compared to its average volume of 361,754. The company has a market capitalization of $964.39 million, a P/E ratio of 129.00 and a beta of 1.69. The company has a current ratio of 1.80, a quick ratio of 1.73 and a debt-to-equity ratio of 1.31. Tabula Rasa HealthCare has a 52 week low of $40.86 and a 52 week high of $91.16.

In related news, CEO Calvin H. Knowlton sold 8,270 shares of Tabula Rasa HealthCare stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $53.68, for a total value of $443,933.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Orsula V. Knowlton sold 8,000 shares of Tabula Rasa HealthCare stock in a transaction on Friday, May 17th. The stock was sold at an average price of $47.11, for a total transaction of $376,880.00. The disclosure for this sale can be found here. Insiders sold a total of 40,270 shares of company stock worth $2,109,614 in the last quarter. Insiders own 14.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Teachers Advisors LLC grew its position in Tabula Rasa HealthCare by 2.6% in the 3rd quarter. Teachers Advisors LLC now owns 34,204 shares of the company’s stock worth $2,777,000 after purchasing an additional 863 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Tabula Rasa HealthCare in the fourth quarter worth about $331,000. Quantamental Technologies LLC bought a new position in shares of Tabula Rasa HealthCare in the fourth quarter worth about $64,000. New York State Teachers Retirement System raised its stake in shares of Tabula Rasa HealthCare by 6.9% in the fourth quarter. New York State Teachers Retirement System now owns 11,348 shares of the company’s stock worth $724,000 after acquiring an additional 732 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Tabula Rasa HealthCare by 7.3% during the fourth quarter. Arizona State Retirement System now owns 26,159 shares of the company’s stock worth $1,668,000 after buying an additional 1,786 shares during the last quarter. Institutional investors own 86.66% of the company’s stock.

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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