Tabula Rasa HealthCare (NASDAQ:TRHC) Shares Up 6.8%

Tabula Rasa HealthCare, Inc. (NASDAQ:TRHC) shot up 6.8% on Thursday . The stock traded as high as $26.71 and last traded at $26.71. 1,655 shares traded hands during trading, a decline of 99% from the average session volume of 312,452 shares. The stock had previously closed at $25.01.

Several brokerages have recently weighed in on TRHC. SVB Leerink cut their target price on Tabula Rasa HealthCare from $49.00 to $40.00 and set a “market perform” rating on the stock in a research report on Friday, September 24th. Royal Bank of Canada set a $48.26 price target on Tabula Rasa HealthCare in a research report on Monday, July 12th. Finally, Zacks Investment Research lowered Tabula Rasa HealthCare from a “hold” rating to a “sell” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Tabula Rasa HealthCare currently has an average rating of “Hold” and a consensus price target of $46.81.

The firm has a 50 day simple moving average of $30.53 and a two-hundred day simple moving average of $39.85. The company has a market capitalization of $662.07 million, a PE ratio of -6.50 and a beta of 0.90. The company has a current ratio of 1.37, a quick ratio of 1.29 and a debt-to-equity ratio of 4.50.

Tabula Rasa HealthCare (NASDAQ:TRHC) last posted its quarterly earnings results on Thursday, August 5th. The company reported ($0.54) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.19). Tabula Rasa HealthCare had a negative net margin of 30.27% and a negative return on equity of 34.79%. The business had revenue of $82.31 million during the quarter, compared to analysts’ expectations of $81.49 million. Research analysts expect that Tabula Rasa HealthCare, Inc. will post -1.12 earnings per share for the current fiscal year.

In related news, COO Michael Greenhalgh sold 2,352 shares of Tabula Rasa HealthCare stock in a transaction that occurred on Thursday, August 5th. The stock was sold at an average price of $38.08, for a total value of $89,564.16. Following the sale, the chief operating officer now directly owns 166,419 shares in the company, valued at $6,337,235.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 10.20% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Macquarie Group Ltd. boosted its position in Tabula Rasa HealthCare by 98.9% during the second quarter. Macquarie Group Ltd. now owns 2,650,523 shares of the company’s stock worth $132,526,000 after purchasing an additional 1,318,103 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Tabula Rasa HealthCare by 5.6% in the second quarter. Vanguard Group Inc. now owns 1,504,792 shares of the company’s stock worth $75,239,000 after acquiring an additional 79,888 shares during the last quarter. Waddell & Reed Financial Inc. acquired a new position in shares of Tabula Rasa HealthCare in the first quarter worth $51,811,000. Fred Alger Management LLC raised its holdings in shares of Tabula Rasa HealthCare by 4.8% in the first quarter. Fred Alger Management LLC now owns 1,059,748 shares of the company’s stock worth $48,801,000 after acquiring an additional 48,094 shares during the last quarter. Finally, Baillie Gifford & Co. raised its holdings in shares of Tabula Rasa HealthCare by 4.4% in the second quarter. Baillie Gifford & Co. now owns 1,056,717 shares of the company’s stock worth $52,836,000 after acquiring an additional 44,490 shares during the last quarter. Institutional investors own 89.20% of the company’s stock.

About Tabula Rasa HealthCare (NASDAQ:TRHC)

Tabula Rasa Healthcare, Inc is a healthcare technology company, which engages in the development of solutions designed for pharmacists, providers, and patients to optimize medication regimens. It operates through the following segments: CareVention HealthCare and MedWise HealthCare. The CareVention HealthCare segment provides services, PACE, which is a center for Medicare & Medicaid services, or CMS, sponsored program providing medical and social services.

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