Tabula Rasa HealthCare (NASDAQ:TRHC) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Tabula Rasa HealthCare (NASDAQ:TRHC) from a buy rating to a hold rating in a report issued on Wednesday, Zacks.com reports.

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 stock. Robert W. Baird assumed coverage on shares of Tabula Rasa HealthCare in a research report on Thursday, May 27th. They set an outperform rating and a $53.00 price objective for the company. SVB Leerink boosted their price objective on shares of Tabula Rasa HealthCare from $43.00 to $49.00 and gave the company a market perform rating in a research report on Monday, May 10th. Piper Sandler upped their price target on shares of Tabula Rasa HealthCare from $41.00 to $45.00 and gave the stock a neutral rating in a report on Friday, May 7th. Finally, Royal Bank of Canada set a $48.26 price target on shares of Tabula Rasa HealthCare in a report on Monday, July 12th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $49.57.

NASDAQ TRHC opened at $44.48 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 1.31 and a debt-to-equity ratio of 4.02. Tabula Rasa HealthCare has a 1-year low of $30.12 and a 1-year high of $69.31. The company has a 50 day simple moving average of $45.53. The firm has a market capitalization of $1.11 billion, a P/E ratio of -11.52 and a beta of 0.96.

Tabula Rasa HealthCare (NASDAQ:TRHC) last announced its quarterly earnings data on Thursday, May 6th. The company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). Tabula Rasa HealthCare had a negative net margin of 28.57% and a negative return on equity of 23.88%. The business had revenue of $76.70 million during the quarter, compared to the consensus estimate of $76.20 million. During the same period in the previous year, the business earned $0.01 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. Research analysts predict that Tabula Rasa HealthCare will post -1.01 earnings per share for the current year.

In other Tabula Rasa HealthCare news, COO Michael Greenhalgh sold 1,000 shares of the company’s stock in a transaction on Wednesday, June 2nd. The shares were sold at an average price of $46.00, for a total transaction of $46,000.00. Following the sale, the chief operating officer now owns 169,771 shares of the company’s stock, valued at $7,809,466. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Andrea Carolan Speers sold 695 shares of the company’s stock in a transaction on Monday, May 24th. The shares were sold at an average price of $41.66, for a total transaction of $28,953.70. Following the sale, the chief accounting officer now directly owns 62,851 shares in the company, valued at approximately $2,618,372.66. The disclosure for this sale can be found here. In the last three months, insiders sold 60,695 shares of company stock worth $2,641,974. 10.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue boosted its position in Tabula Rasa HealthCare by 2.9% during the second quarter. State of Alaska Department of Revenue now owns 15,642 shares of the company’s stock valued at $782,000 after acquiring an additional 434 shares during the last quarter. Principal Financial Group Inc. boosted its position in Tabula Rasa HealthCare by 2.9% during the first quarter. Principal Financial Group Inc. now owns 158,951 shares of the company’s stock valued at $7,320,000 after acquiring an additional 4,488 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in Tabula Rasa HealthCare by 20.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 5,200 shares of the company’s stock valued at $239,000 after acquiring an additional 900 shares during the last quarter. Millennium Management LLC bought a new stake in Tabula Rasa HealthCare during the first quarter valued at $1,756,000. Finally, Grandeur Peak Global Advisors LLC bought a new stake in Tabula Rasa HealthCare during the first quarter valued at $445,000. 93.16% of the stock is currently owned by institutional investors and hedge funds.

Tabula Rasa HealthCare Company Profile

Tabula Rasa HealthCare, Inc operates as a healthcare technology company in the United States. The company operates through two segments, CareVention HealthCare and MedWise HealthCare. It offers EireneRx, a cloud-based medication decision-support and e-prescribing platform to access patient medication-related information; and MedWise software 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 programs or systems.

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