Tabula Rasa Healthcare Inc. (NASDAQ:TRHC) shot up 17.2% on Tuesday after Robert W. Baird raised their price target on the stock from $17.00 to $18.00. Robert W. Baird currently has an outperform rating on the stock. Tabula Rasa Healthcare traded as high as $18.25 and last traded at $17.42, with a volume of 525,275 shares changing hands. The stock had previously closed at $14.86.
Several other equities research analysts also recently weighed in on TRHC. UBS AG reaffirmed a “buy” rating and issued a $17.00 price target (down from $18.00) on shares of Tabula Rasa Healthcare in a research note on Thursday, May 25th. Chardan Capital lifted their price target on shares of Tabula Rasa Healthcare from $19.50 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th. Zacks Investment Research raised shares of Tabula Rasa Healthcare from a “sell” rating to a “hold” rating in a research note on Thursday, April 13th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $16.00 price target on shares of Tabula Rasa Healthcare in a research note on Friday, July 14th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $17.83.
In related news, Director Gordon Tunstall sold 22,759 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $13.76, for a total transaction of $313,163.84. Following the transaction, the director now directly owns 5,565 shares in the company, valued at $76,574.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Calvin H. Knowlton sold 8,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $17.21, for a total transaction of $137,680.00. Following the transaction, the chief executive officer now owns 918,362 shares in the company, valued at $15,805,010.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,759 shares of company stock valued at $676,604. 45.80% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRHC. New York State Common Retirement Fund boosted its position in Tabula Rasa Healthcare by 257.0% in the second quarter. New York State Common Retirement Fund now owns 10,000 shares of the company’s stock valued at $151,000 after buying an additional 7,199 shares during the period. Icon Advisers Inc. Co. purchased a new position in Tabula Rasa Healthcare during the second quarter valued at $684,000. TIAA CREF Investment Management LLC boosted its position in Tabula Rasa Healthcare by 206.4% in the second quarter. TIAA CREF Investment Management LLC now owns 24,913 shares of the company’s stock valued at $375,000 after buying an additional 16,782 shares during the period. Teachers Advisors LLC boosted its position in Tabula Rasa Healthcare by 203.5% in the second quarter. Teachers Advisors LLC now owns 16,500 shares of the company’s stock valued at $248,000 after buying an additional 11,063 shares during the period. Finally, Paradigm Capital Management Inc. NY purchased a new position in Tabula Rasa Healthcare during the second quarter valued at $1,165,000. Institutional investors and hedge funds own 25.28% of the company’s stock.
The firm has a 50-day moving average of $15.45 and a 200-day moving average of $14.23. The stock’s market cap is $307.17 million.
Tabula Rasa Healthcare (NASDAQ:TRHC) last announced its quarterly earnings results on Monday, August 7th. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. Tabula Rasa Healthcare had a negative net margin of 10.27% and a negative return on equity of 9.58%. The firm had revenue of $29.70 million during the quarter, compared to analyst estimates of $27.84 million. Tabula Rasa Healthcare’s quarterly revenue was up 32.6% compared to the same quarter last year. On average, equities analysts predict that Tabula Rasa Healthcare Inc. will post $0.40 EPS for the current year.
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Tabula Rasa Healthcare Company Profile
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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