Pictet Asset Management Ltd. Decreases Stock Holdings in Tabula Rasa HealthCare Inc (NASDAQ:TRHC)
Pictet Asset Management Ltd. reduced its holdings in shares of Tabula Rasa HealthCare Inc (NASDAQ:TRHC) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 166,165 shares of the company’s stock after selling 3,086 shares during the quarter. Pictet Asset Management Ltd. owned 0.75% of Tabula Rasa HealthCare worth $9,129,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in TRHC. First Trust Advisors LP grew its stake in Tabula Rasa HealthCare by 722.5% during the second quarter. First Trust Advisors LP now owns 418,301 shares of the company’s stock worth $20,886,000 after buying an additional 367,445 shares during the period. Janus Henderson Group PLC purchased a new stake in Tabula Rasa HealthCare during the second quarter worth approximately $17,074,000. Intrinsic Edge Capital Management LLC boosted its stake in shares of Tabula Rasa HealthCare by 173.3% in the second quarter. Intrinsic Edge Capital Management LLC now owns 358,673 shares of the company’s stock valued at $17,909,000 after purchasing an additional 227,453 shares during the period. Brown Advisory Inc. purchased a new position in shares of Tabula Rasa HealthCare in the second quarter valued at $11,133,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Tabula Rasa HealthCare by 18.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,315,216 shares of the company’s stock valued at $65,669,000 after purchasing an additional 202,683 shares during the period. Institutional investors own 99.17% of the company’s stock.
In other Tabula Rasa HealthCare news, President Orsula V. Knowlton sold 8,000 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $56.05, for a total transaction of $448,400.00. Also, Director Dennis Helling sold 5,000 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $54.68, for a total transaction of $273,400.00. Insiders have sold a total of 70,322 shares of company stock worth $3,524,463 over the last quarter. 11.80% of the stock is currently owned by insiders.
Tabula Rasa HealthCare (NASDAQ:TRHC) last announced its earnings results on Thursday, November 7th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. Tabula Rasa HealthCare had a negative net margin of 13.46% and a positive return on equity of 0.50%. The business had revenue of $74.27 million during the quarter, compared to the consensus estimate of $75.37 million. Equities research analysts predict that Tabula Rasa HealthCare Inc will post -0.23 EPS for the current year.
Several research analysts have recently weighed in on the stock. Stifel Nicolaus upgraded shares of Tabula Rasa HealthCare from a “hold” rating to a “buy” rating and upped their target price for the company from $50.00 to $75.00 in a research note on Friday, August 30th. Cantor Fitzgerald decreased their target price on shares of Tabula Rasa HealthCare from $99.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. ValuEngine downgraded shares of Tabula Rasa HealthCare from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 13th. Piper Jaffray Companies decreased their target price on shares of Tabula Rasa HealthCare from $78.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Finally, BidaskClub downgraded shares of Tabula Rasa HealthCare from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $71.54.
Tabula Rasa HealthCare 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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