BidaskClub Lowers Tabula Rasa HealthCare (NASDAQ:TRHC) to Strong Sell

BidaskClub cut shares of Tabula Rasa HealthCare (NASDAQ:TRHC) from a sell rating to a strong sell rating in a report issued on Wednesday, BidAskClub reports.

A number of other equities research analysts have also recently issued reports on TRHC. SunTrust Banks started coverage on Tabula Rasa HealthCare in a research report on Thursday, July 2nd. They set a buy rating and a $72.00 target price for the company. ValuEngine raised Tabula Rasa HealthCare from a hold rating to a buy rating in a research report on Thursday, July 30th. Zacks Investment Research raised Tabula Rasa HealthCare from a sell rating to a hold rating in a research report on Thursday, August 6th. Cantor Fitzgerald decreased their target price on Tabula Rasa HealthCare from $85.00 to $83.00 and set an overweight rating for the company in a research report on Thursday, June 25th. Finally, Benchmark decreased their target price on Tabula Rasa HealthCare from $84.00 to $75.00 and set a buy rating for the company in a research report on Wednesday, August 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. Tabula Rasa HealthCare has a consensus rating of Buy and a consensus price target of $63.27.

Shares of NASDAQ TRHC opened at $39.45 on Wednesday. The stock has a market cap of $905.77 million, a price-to-earnings ratio of -19.15 and a beta of 1.08. The business has a 50 day simple moving average of $42.35 and a 200 day simple moving average of $52.24. Tabula Rasa HealthCare has a 52 week low of $33.04 and a 52 week high of $69.72. The company has a debt-to-equity ratio of 1.34, a quick ratio of 2.31 and a current ratio of 2.41.

Tabula Rasa HealthCare (NASDAQ:TRHC) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.29. The business had revenue of $76.80 million during the quarter, compared to analysts’ expectations of $78.12 million. Tabula Rasa HealthCare had a negative return on equity of 7.37% and a negative net margin of 14.70%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 EPS. On average, analysts predict that Tabula Rasa HealthCare will post -0.74 EPS for the current year.

In related news, President Orsula V. Knowlton sold 8,000 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $49.07, for a total value of $392,560.00. Following the completion of the transaction, the president now directly owns 721,805 shares in the company, valued at $35,418,971.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Samira Beckwith sold 2,140 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $45.84, for a total value of $98,097.60. Following the completion of the transaction, the director now owns 8,756 shares of the company’s stock, valued at $401,375.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,140 shares of company stock valued at $2,723,058. Corporate insiders own 11.60% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of TRHC. Fred Alger Management LLC raised its stake in shares of Tabula Rasa HealthCare by 116.9% in the first quarter. Fred Alger Management LLC now owns 429,919 shares of the company’s stock valued at $22,480,000 after purchasing an additional 231,676 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Tabula Rasa HealthCare by 49.3% in the second quarter. First Trust Advisors LP now owns 591,869 shares of the company’s stock valued at $32,393,000 after purchasing an additional 195,394 shares in the last quarter. Wasatch Advisors Inc. raised its stake in shares of Tabula Rasa HealthCare by 33.7% in the second quarter. Wasatch Advisors Inc. now owns 648,905 shares of the company’s stock valued at $35,515,000 after purchasing an additional 163,641 shares in the last quarter. AXA acquired a new position in shares of Tabula Rasa HealthCare in the first quarter valued at $7,704,000. Finally, Macquarie Group Ltd. grew its position in Tabula Rasa HealthCare by 7.3% in the second quarter. Macquarie Group Ltd. now owns 1,202,492 shares of the company’s stock valued at $65,813,000 after acquiring an additional 81,786 shares during the period.

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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Analyst Recommendations for Tabula Rasa HealthCare (NASDAQ:TRHC)

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