Tabula Rasa HealthCare (NASDAQ:TRHC) Reaches New 52-Week Low at $28.33

Tabula Rasa HealthCare, Inc. (NASDAQ:TRHC)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $28.33 and last traded at $29.17, with a volume of 1751 shares trading hands. The stock had previously closed at $28.80.

TRHC has been the topic of a number of recent research reports. Robert W. Baird began coverage on shares of Tabula Rasa HealthCare in a research note on Thursday, May 27th. They set an “outperform” rating and a $53.00 price target on the stock. Zacks Investment Research downgraded shares of Tabula Rasa HealthCare from a “hold” rating to a “sell” rating in a research note on Tuesday, August 10th. Finally, Royal Bank of Canada set a $48.26 target price on shares of Tabula Rasa HealthCare in a research note on Monday, July 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $47.81.

The stock’s fifty day moving average price is $37.85 and its 200 day moving average price is $41.99. The company has a debt-to-equity ratio of 4.50, a current ratio of 1.37 and a quick ratio of 1.29. The stock has a market capitalization of $707.28 million, a P/E ratio of -6.98 and a beta of 0.90.

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

In other Tabula Rasa HealthCare news, COO Michael Greenhalgh sold 2,352 shares of the stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $38.08, for a total transaction of $89,564.16. Following the completion of the sale, the chief operating officer now directly owns 166,419 shares of the company’s stock, valued at $6,337,235.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Orsula V. Knowlton sold 10,000 shares of the stock in a transaction dated Wednesday, July 14th. The shares were sold at an average price of $46.82, for a total transaction of $468,200.00. Following the sale, the president now directly owns 829,360 shares of the company’s stock, valued at $38,830,635.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,352 shares of company stock worth $903,284. 10.20% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in TRHC. Eaton Vance Management purchased a new position in Tabula Rasa HealthCare during the 1st quarter worth approximately $31,000. FORA Capital LLC purchased a new position in Tabula Rasa HealthCare during the 2nd quarter worth approximately $40,000. PNC Financial Services Group Inc. grew its stake in shares of Tabula Rasa HealthCare by 54.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,315 shares of the company’s stock worth $66,000 after purchasing an additional 462 shares during the period. Nisa Investment Advisors LLC acquired a new stake in shares of Tabula Rasa HealthCare during the 2nd quarter worth approximately $85,000. Finally, Alpha Paradigm Partners LLC acquired a new stake in Tabula Rasa HealthCare in the 1st quarter valued at $134,000. 89.20% of the stock is owned by hedge funds and other institutional investors.

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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