Tabula Rasa HealthCare (NASDAQ:TRHC) Shares Up 6.8%

Tabula Rasa HealthCare, Inc. (NASDAQ:TRHC) shot up 6.8% during mid-day trading on Thursday . The company traded as high as $26.71 and last traded at $26.71. 1,655 shares were traded during trading, a decline of 99% from the average session volume of 312,452 shares. The stock had previously closed at $25.01.

A number of brokerages have issued reports on TRHC. Zacks Investment Research lowered Tabula Rasa HealthCare from a “hold” rating to a “sell” rating in a research note on Tuesday. Royal Bank of Canada set a $48.26 price target on Tabula Rasa HealthCare in a research note on Monday, July 12th. Finally, SVB Leerink decreased their price target on Tabula Rasa HealthCare from $49.00 to $40.00 and set a “market perform” rating for the company in a research note on Friday, September 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.81.

The firm has a market capitalization of $662.07 million, a P/E ratio of -6.50 and a beta of 0.90. The company has a debt-to-equity ratio of 4.50, a quick ratio of 1.29 and a current ratio of 1.37. The firm has a 50 day moving average price of $30.53 and a two-hundred day moving average price of $39.85.

Tabula Rasa HealthCare (NASDAQ:TRHC) last released its quarterly earnings data on Thursday, August 5th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.19). The company had revenue of $82.31 million for the quarter, compared to the consensus estimate of $81.49 million. Tabula Rasa HealthCare had a negative return on equity of 34.79% and a negative net margin of 30.27%. Equities research analysts forecast that Tabula Rasa HealthCare, Inc. will post -1.12 earnings per share for the current fiscal year.

In other news, COO Michael Greenhalgh sold 2,352 shares of the stock in a transaction on Thursday, August 5th. The stock was sold at an average price of $38.08, for a total value of $89,564.16. Following the completion of the sale, the chief operating officer now owns 166,419 shares in the company, valued at $6,337,235.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.20% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC lifted its holdings in shares of Tabula Rasa HealthCare by 11.7% in the first quarter. Mutual of America Capital Management LLC now owns 3,000 shares of the company’s stock valued at $138,000 after purchasing an additional 314 shares in the last quarter. Spouting Rock Asset Management LLC raised its holdings in shares of Tabula Rasa HealthCare by 7.5% during the second quarter. Spouting Rock Asset Management LLC now owns 4,888 shares of the company’s stock worth $244,000 after acquiring an additional 340 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Tabula Rasa HealthCare by 2.9% during the second quarter. State of Alaska Department of Revenue now owns 15,642 shares of the company’s stock worth $782,000 after acquiring an additional 434 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Tabula Rasa HealthCare by 54.2% during the second quarter. PNC Financial Services Group Inc. now owns 1,315 shares of the company’s stock worth $66,000 after acquiring an additional 462 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Tabula Rasa HealthCare by 2.8% during the first quarter. Thrivent Financial for Lutherans now owns 18,451 shares of the company’s stock worth $850,000 after acquiring an additional 503 shares in the last quarter. Institutional investors own 89.20% of the company’s stock.

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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