Piper Jaffray Companies set a $78.00 price target on Tabula Rasa HealthCare (NASDAQ:TRHC) in a research report sent to investors on Friday, TipRanks reports. The firm currently has a buy rating on the stock.
Other research analysts have also recently issued reports about the company. Zacks Investment Research cut Tabula Rasa HealthCare from a buy rating to a hold rating in a research note on Thursday, October 10th. ValuEngine raised Tabula Rasa HealthCare from a buy rating to a strong-buy rating in a research note on Wednesday, September 4th. Stifel Nicolaus raised Tabula Rasa HealthCare from a hold rating to a buy rating and boosted their target price for the company from $50.00 to $75.00 in a research note on Friday, August 30th. Finally, BidaskClub cut Tabula Rasa HealthCare from a buy rating to a hold rating in a research note on Friday, October 11th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Tabula Rasa HealthCare has an average rating of Buy and an average price target of $78.26.
Shares of Tabula Rasa HealthCare stock opened at $48.92 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.97 and a debt-to-equity ratio of 1.31. Tabula Rasa HealthCare has a 12 month low of $40.86 and a 12 month high of $81.83. The business has a fifty day simple moving average of $54.91 and a 200 day simple moving average of $53.31. The stock has a market cap of $1.13 billion, a PE ratio of 143.88 and a beta of 1.66.
Tabula Rasa HealthCare (NASDAQ:TRHC) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.29. Tabula Rasa HealthCare had a positive return on equity of 3.63% and a negative net margin of 7.09%. The business had revenue of $76.26 million during the quarter, compared to analysts’ expectations of $70.40 million. During the same period in the previous year, the firm earned $0.20 earnings per share. The firm’s quarterly revenue was up 56.9% compared to the same quarter last year. Analysts expect that Tabula Rasa HealthCare will post -0.15 EPS for the current fiscal year.
In other news, CEO Calvin H. Knowlton sold 8,000 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $53.85, for a total value of $430,800.00. Also, Director Gordon Tunstall sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $65.01, for a total value of $650,100.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,000 shares of company stock valued at $4,095,810. Insiders own 11.80% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Aperio Group LLC bought a new stake in shares of Tabula Rasa HealthCare in the second quarter valued at about $39,000. Nisa Investment Advisors LLC bought a new stake in shares of Tabula Rasa HealthCare in the third quarter valued at about $47,000. First Mercantile Trust Co. lifted its holdings in shares of Tabula Rasa HealthCare by 20.3% in the second quarter. First Mercantile Trust Co. now owns 1,197 shares of the company’s stock valued at $60,000 after purchasing an additional 202 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Tabula Rasa HealthCare in the second quarter valued at about $82,000. Finally, Bank of Montreal Can lifted its holdings in shares of Tabula Rasa HealthCare by 167.7% in the second quarter. Bank of Montreal Can now owns 2,605 shares of the company’s stock valued at $129,000 after purchasing an additional 1,632 shares in the last quarter. Institutional investors own 98.81% of the company’s stock.
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.
Featured Article: How does a security become overbought?
Receive News & Ratings for Tabula Rasa HealthCare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tabula Rasa HealthCare and related companies with MarketBeat.com's FREE daily email newsletter.