Tabula Rasa HealthCare (NASDAQ:TRHC) Shares Up 7.8% on Earnings Beat

Tabula Rasa HealthCare Inc (NASDAQ:TRHC) shares shot up 7.8% on Thursday following a better than expected earnings announcement. The company traded as high as $59.37 and last traded at $59.29, 365,252 shares changed hands during trading. A decline of 1% from the average session volume of 370,131 shares. The stock had previously closed at $54.98.

The company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.29. Tabula Rasa HealthCare had a positive return on equity of 4.22% and a negative net margin of 18.15%. The firm had revenue of $76.26 million for the quarter, compared to the consensus estimate of $70.40 million. During the same period in the previous year, the business earned $0.20 EPS. The firm’s revenue for the quarter was up 56.9% on a year-over-year basis.

Several brokerages recently weighed in on TRHC. Piper Jaffray Companies boosted their target price on Tabula Rasa HealthCare from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. TheStreet downgraded Tabula Rasa HealthCare from a “c-” rating to a “d+” rating in a research note on Tuesday, June 11th. Cantor Fitzgerald reiterated a “buy” rating and set a $99.00 price target on shares of Tabula Rasa HealthCare in a research note on Monday, May 13th. Zacks Investment Research upgraded Tabula Rasa HealthCare from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research note on Saturday, August 3rd. Finally, Guggenheim started coverage on Tabula Rasa HealthCare in a research note on Wednesday, April 17th. They set a “neutral” rating and a $58.00 price target on the stock. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $82.67.

In other Tabula Rasa HealthCare news, President Orsula V. Knowlton sold 8,000 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $47.11, for a total transaction of $376,880.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian W. Adams sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $60.00, for a total value of $600,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,000 shares of company stock worth $3,114,360. Company insiders own 11.80% of the company’s stock.

Several hedge funds have recently modified their holdings of TRHC. Charles Schwab Investment Management Inc. raised its holdings in Tabula Rasa HealthCare by 8.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 108,508 shares of the company’s stock worth $5,418,000 after purchasing an additional 8,181 shares during the period. Oppenheimer & Co. Inc. raised its holdings in shares of Tabula Rasa HealthCare by 96.4% during the second quarter. Oppenheimer & Co. Inc. now owns 29,011 shares of the company’s stock valued at $1,449,000 after acquiring an additional 14,237 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Tabula Rasa HealthCare by 3.8% during the second quarter. Jennison Associates LLC now owns 918,893 shares of the company’s stock valued at $45,880,000 after acquiring an additional 33,282 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Tabula Rasa HealthCare by 167.7% during the second quarter. Bank of Montreal Can now owns 2,605 shares of the company’s stock valued at $129,000 after acquiring an additional 1,632 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of Tabula Rasa HealthCare during the second quarter valued at approximately $905,000. 86.95% of the stock is owned by institutional investors and hedge funds.

The company’s fifty day moving average is $54.19. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 186.71 and a beta of 1.63. The company has a current ratio of 1.80, a quick ratio of 1.73 and a debt-to-equity ratio of 1.31.

About Tabula Rasa HealthCare (NASDAQ:TRHC)

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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