A number of other brokerages also recently weighed in on TRHC. Stifel Nicolaus raised Tabula Rasa HealthCare from a “hold” rating to a “buy” rating and raised their price objective for the company from $50.00 to $75.00 in a research report on Friday, August 30th. BidaskClub downgraded Tabula Rasa HealthCare from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Zacks Investment Research downgraded Tabula Rasa HealthCare from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Cantor Fitzgerald lowered their price target on Tabula Rasa HealthCare from $99.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Finally, Piper Jaffray Companies lowered their price target on Tabula Rasa HealthCare from $78.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Tabula Rasa HealthCare currently has an average rating of “Buy” and a consensus target price of $71.54.
NASDAQ:TRHC traded up $1.09 during trading hours on Wednesday, reaching $42.15. The stock had a trading volume of 322,300 shares, compared to its average volume of 341,000. Tabula Rasa HealthCare has a 52 week low of $40.06 and a 52 week high of $78.20. The stock has a market capitalization of $911.74 million, a PE ratio of 123.97 and a beta of 1.62. The company has a 50 day moving average price of $50.47 and a two-hundred day moving average price of $52.62. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.13 and a current ratio of 2.22.
In related news, CFO Brian W. Adams sold 2,000 shares of Tabula Rasa HealthCare stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the completion of the sale, the chief financial officer now owns 198,037 shares of the company’s stock, valued at $11,882,220. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Calvin H. Knowlton sold 8,000 shares of Tabula Rasa HealthCare stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $64.13, for a total value of $513,040.00. The disclosure for this sale can be found here. In the last three months, insiders sold 72,000 shares of company stock valued at $4,032,090. Corporate insiders own 11.80% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Artemis Investment Management LLP raised its position in Tabula Rasa HealthCare by 4.1% during the third quarter. Artemis Investment Management LLP now owns 221,203 shares of the company’s stock valued at $11,880,000 after acquiring an additional 8,670 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its position in shares of Tabula Rasa HealthCare by 20.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 326,001 shares of the company’s stock valued at $17,910,000 after buying an additional 54,225 shares in the last quarter. Lisanti Capital Growth LLC increased its position in shares of Tabula Rasa HealthCare by 116.4% in the third quarter. Lisanti Capital Growth LLC now owns 67,420 shares of the company’s stock valued at $3,704,000 after buying an additional 36,265 shares in the last quarter. CWM LLC purchased a new stake in shares of Tabula Rasa HealthCare in the second quarter valued at approximately $4,569,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Tabula Rasa HealthCare in the second quarter valued at approximately $17,074,000. 99.58% of the stock is owned by hedge funds and other institutional investors.
Tabula Rasa HealthCare Company Profile
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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