Tabula Rasa HealthCare, Inc. (NASDAQ:TRHC) Receives $8.00 Consensus PT from Analysts

Shares of Tabula Rasa HealthCare, Inc. (NASDAQ:TRHC) have been given a consensus rating of “Hold” by the five research firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $8.00.

Several analysts have commented on the company. Benchmark cut Tabula Rasa HealthCare from a “buy” rating to a “hold” rating in a report on Monday, August 7th. StockNews.com assumed coverage on Tabula Rasa HealthCare in a report on Saturday. They set a “hold” rating for the company. SVB Securities upgraded Tabula Rasa HealthCare from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $7.00 to $10.00 in a report on Wednesday, May 10th. William Blair cut Tabula Rasa HealthCare from an “outperform” rating to a “market perform” rating in a report on Monday, August 7th. Finally, SVB Leerink upgraded Tabula Rasa HealthCare from a “market perform” rating to an “outperform” rating in a report on Wednesday, May 10th.

Hedge Funds Weigh In On Tabula Rasa HealthCare

Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Group AG raised its position in shares of Tabula Rasa HealthCare by 244.5% in the 4th quarter. UBS Group AG now owns 1,302,576 shares of the company’s stock valued at $6,448,000 after purchasing an additional 924,421 shares in the last quarter. Wasatch Advisors LP grew its stake in shares of Tabula Rasa HealthCare by 30.7% in the second quarter. Wasatch Advisors LP now owns 1,148,861 shares of the company’s stock worth $9,478,000 after purchasing an additional 270,175 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Tabula Rasa HealthCare by 258.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 626,810 shares of the company’s stock worth $3,009,000 after purchasing an additional 452,154 shares in the last quarter. Kent Lake Capital LLC bought a new position in shares of Tabula Rasa HealthCare in the second quarter worth $4,947,000. Finally, Acadian Asset Management LLC grew its stake in shares of Tabula Rasa HealthCare by 43.8% in the second quarter. Acadian Asset Management LLC now owns 445,200 shares of the company’s stock worth $3,670,000 after purchasing an additional 135,553 shares in the last quarter. 61.88% of the stock is owned by institutional investors and hedge funds.

Tabula Rasa HealthCare Stock Down 0.1 %

NASDAQ:TRHC opened at $10.26 on Friday. The company has a market capitalization of $277.58 million, a PE ratio of -2.66 and a beta of 1.71. Tabula Rasa HealthCare has a 52-week low of $3.15 and a 52-week high of $10.37. The stock has a fifty day simple moving average of $8.97 and a 200-day simple moving average of $6.93.

Tabula Rasa HealthCare (NASDAQ:TRHC) last posted its quarterly earnings data on Monday, August 7th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.24. The company had revenue of $90.04 million for the quarter, compared to analysts’ expectations of $88.82 million. As a group, equities analysts anticipate that Tabula Rasa HealthCare will post -0.91 earnings per share for the current year.

Tabula Rasa HealthCare Company Profile

Tabula Rasa HealthCare, Inc operates as a healthcare technology company in the United States. The company operates in two segments, CareVention HealthCare and MedWise HealthCare. It offers EireneRx, a cloud-based medication decision-support and e-prescribing platform to access patient medication-related information; and MedWise Risk Score, a medication risk stratification technology for identification of patients in need of clinical intervention.