Tabula Rasa HealthCare (TRHC) Upgraded to “Strong-Buy” at BidaskClub
BidaskClub upgraded shares of Tabula Rasa HealthCare (NASDAQ:TRHC) from a buy rating to a strong-buy rating in a research note published on Tuesday morning.
TRHC has been the subject of a number of other research reports. CIBC reissued an outperform rating and issued a $47.00 price objective (up previously from $35.00) on shares of Tabula Rasa HealthCare in a report on Tuesday, March 13th. Zacks Investment Research downgraded shares of Tabula Rasa HealthCare from a hold rating to a sell rating in a report on Saturday, March 17th. William Blair reaffirmed an outperform rating on shares of Tabula Rasa HealthCare in a report on Tuesday, March 13th. Citigroup assumed coverage on shares of Tabula Rasa HealthCare in a report on Thursday, January 4th. They set a buy rating for the company. Finally, Oppenheimer upped their price target on shares of Tabula Rasa HealthCare from $35.00 to $47.00 and gave the stock an outperform rating in a report on Tuesday, March 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and an average target price of $36.40.
NASDAQ TRHC opened at $40.98 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $795.54, a price-to-earnings ratio of -1,024.50, a price-to-earnings-growth ratio of 8.83 and a beta of 2.39. Tabula Rasa HealthCare has a 12-month low of $11.59 and a 12-month high of $42.79.
In related news, Director Bruce Luehrs sold 252,242 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $34.29, for a total transaction of $8,649,378.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Calvin H. Knowlton sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $35.59, for a total transaction of $284,720.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 324,000 shares of company stock valued at $11,309,958. 45.80% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its position in Tabula Rasa HealthCare by 79.8% during the 3rd quarter. Wells Fargo & Company MN now owns 12,768 shares of the company’s stock worth $341,000 after purchasing an additional 5,668 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in Tabula Rasa HealthCare during the 3rd quarter worth approximately $563,000. EAM Investors LLC increased its position in Tabula Rasa HealthCare by 21.5% during the 4th quarter. EAM Investors LLC now owns 178,588 shares of the company’s stock worth $5,009,000 after purchasing an additional 31,596 shares in the last quarter. Pier Capital LLC increased its position in Tabula Rasa HealthCare by 33.3% during the 4th quarter. Pier Capital LLC now owns 206,905 shares of the company’s stock worth $5,804,000 after purchasing an additional 51,673 shares in the last quarter. Finally, Quadrant Private Wealth Management LLC acquired a new position in Tabula Rasa HealthCare during the 4th quarter worth approximately $569,000. Institutional investors and hedge funds own 47.06% of the company’s stock.
About Tabula Rasa HealthCare
Tabula Rasa HealthCare, Inc operates as a healthcare technology company in the United States. The company provides patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize medication regimens to enhance patient outcomes, reduce hospitalizations, lower healthcare costs, and manage risk.
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.