Tabula Rasa HealthCare (NASDAQ:TRHC) had its price objective raised by equities researchers at Piper Jaffray Companies to $43.00 in a report released on Tuesday, The Fly reports. The firm presently has an “overweight” rating on the stock. Piper Jaffray Companies’ price target would suggest a potential upside of 13.76% from the company’s previous close.
TRHC has been the topic of a number of other reports. BidaskClub lowered Tabula Rasa HealthCare from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. William Blair initiated coverage on Tabula Rasa HealthCare in a research note on Monday, December 11th. They issued an “outperform” rating on the stock. Zacks Investment Research lowered Tabula Rasa HealthCare from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Oppenheimer initiated coverage on Tabula Rasa HealthCare in a research note on Monday, December 18th. They issued an “outperform” rating and a $35.00 price objective on the stock. Finally, Citigroup initiated coverage on Tabula Rasa HealthCare in a research note on Thursday, January 4th. They issued a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Tabula Rasa HealthCare presently has a consensus rating of “Buy” and an average target price of $30.67.
Tabula Rasa HealthCare (NASDAQ TRHC) opened at $37.80 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $652.20, a P/E ratio of -151.20, a P/E/G ratio of 3.81 and a beta of 3.60. Tabula Rasa HealthCare has a 12 month low of $11.59 and a 12 month high of $39.81.
In other Tabula Rasa HealthCare news, CFO Brian W. Adams purchased 5,391 shares of the company’s stock in a transaction on Friday, January 12th. The shares were purchased at an average cost of $14.23 per share, with a total value of $76,713.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Calvin H. Knowlton sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $32.75, for a total value of $262,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 295,021 shares of company stock worth $10,167,309. Insiders own 45.80% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN lifted its stake in Tabula Rasa HealthCare by 79.8% in the third quarter. Wells Fargo & Company MN now owns 12,768 shares of the company’s stock valued at $341,000 after buying an additional 5,668 shares during the period. JPMorgan Chase & Co. acquired a new position in Tabula Rasa HealthCare in the third quarter valued at approximately $563,000. EAM Investors LLC acquired a new position in Tabula Rasa HealthCare in the third quarter valued at approximately $3,931,000. Vanguard Group Inc. lifted its stake in Tabula Rasa HealthCare by 13.4% in the second quarter. Vanguard Group Inc. now owns 236,964 shares of the company’s stock valued at $3,566,000 after buying an additional 27,997 shares during the period. Finally, Quadrant Private Wealth Management LLC acquired a new position in Tabula Rasa HealthCare in the fourth quarter valued at approximately $569,000. 53.03% of the stock is currently owned by hedge funds and other institutional investors.
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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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