SVB Leerink Lowers Tabula Rasa HealthCare (NASDAQ:TRHC) Price Target to $40.00

Tabula Rasa HealthCare (NASDAQ:TRHC) had its target price lowered by SVB Leerink from $49.00 to $40.00 in a report issued on Friday, Price Targets.com reports. The firm currently has a “market perform” rating on the stock. SVB Leerink’s price objective would suggest a potential upside of 36.52% from the stock’s current price.

Several other brokerages have also recently commented on TRHC. Robert W. Baird assumed coverage on Tabula Rasa HealthCare in a report on Thursday, May 27th. They set an “outperform” rating and a $53.00 target price on the stock. Royal Bank of Canada set a $48.26 price target on Tabula Rasa HealthCare in a report on Monday, July 12th. Finally, Zacks Investment Research cut Tabula Rasa HealthCare from a “hold” rating to a “sell” rating in a report on Tuesday, August 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tabula Rasa HealthCare has an average rating of “Hold” and a consensus price target of $46.81.

Shares of TRHC stock opened at $29.30 on Friday. The stock’s fifty day moving average is $34.98 and its 200-day moving average is $41.57. 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 stock has a market capitalization of $727.90 million, a PE ratio of -7.13 and a beta of 0.90. Tabula Rasa HealthCare has a 52 week low of $27.01 and a 52 week high of $69.31.

Tabula Rasa HealthCare (NASDAQ:TRHC) last announced its earnings results on Thursday, August 5th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.19). The business 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%. As a group, analysts forecast that Tabula Rasa HealthCare will post -1.12 earnings per share for the current fiscal year.

In other news, COO Michael Greenhalgh sold 2,352 shares of the firm’s stock in a transaction dated Thursday, August 5th. The stock was sold at an average price of $38.08, for a total transaction of $89,564.16. Following the sale, the chief operating officer now 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 available at the SEC website. Also, President Orsula V. Knowlton sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 14th. The stock was sold at an average price of $46.82, for a total value of $468,200.00. Following the sale, the president now directly owns 829,360 shares in the company, valued at approximately $38,830,635.20. The disclosure for this sale can be found here. Corporate insiders own 10.20% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Eaton Vance Management acquired a new stake in shares of Tabula Rasa HealthCare during the first quarter worth about $31,000. FORA Capital LLC acquired a new stake in shares of Tabula Rasa HealthCare during the second quarter worth about $40,000. PNC Financial Services Group Inc. raised its position 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 purchasing an additional 462 shares during the period. Nisa Investment Advisors LLC bought a new position in shares of Tabula Rasa HealthCare during the second quarter worth about $85,000. Finally, Alpha Paradigm Partners LLC bought a new position in shares of Tabula Rasa HealthCare during the first quarter worth about $134,000. 89.20% of the stock is currently owned by institutional investors.

Tabula Rasa HealthCare Company Profile

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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Analyst Recommendations for Tabula Rasa HealthCare (NASDAQ:TRHC)

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