Tabula Rasa Healthcare Inc. (NASDAQ:TRHC) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report released on Wednesday.

According to Zacks, “Tabula Rasa HealthCare, Inc. is a provider of patient-specific, data-driven technology and solutions which enable healthcare organizations to optimize medication regimens to improve patient outcomes, reduce hospitalizations, lower healthcare costs and manage risk. The company’s cloud-based software applications including EireneRx and MedWise Advisor which provide solutions to payers, providers and other healthcare organizations. Tabula Rasa HealthCare, Inc. is based in NJ, United States. “

Other research analysts also recently issued research reports about the stock. Piper Jaffray Companies assumed coverage on shares of Tabula Rasa Healthcare in a report on Monday, October 24th. They issued an “overweight” rating and a $18.00 price target for the company. Stifel Nicolaus assumed coverage on shares of Tabula Rasa Healthcare in a report on Monday, October 24th. They issued a “buy” rating and a $17.00 price target for the company. Wells Fargo & Company assumed coverage on shares of Tabula Rasa Healthcare in a report on Monday, October 24th. They issued an “outperform” rating for the company. Finally, Robert W. Baird assumed coverage on shares of Tabula Rasa Healthcare in a report on Monday, October 24th. They issued an “outperform” rating and a $17.00 price target for the company. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $16.75.

Tabula Rasa Healthcare (NASDAQ:TRHC) opened at 14.71 on Wednesday. The stock has a market cap of $236.85 million and a P/E ratio of 56.80. The firm’s 50 day moving average price is $13.38 and its 200-day moving average price is $12.97. Tabula Rasa Healthcare has a 12-month low of $10.39 and a 12-month high of $16.17.

Tabula Rasa Healthcare (NASDAQ:TRHC) last announced its quarterly earnings results on Wednesday, November 9th. The company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.03. The business earned $24.20 million during the quarter. The firm’s quarterly revenue was up 34.4% on a year-over-year basis. Equities research analysts anticipate that Tabula Rasa Healthcare will post $0.23 earnings per share for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in TRHC. Taylor Wealth Management Partners purchased a new stake in shares of Tabula Rasa Healthcare during the third quarter valued at about $2,458,000. Emerald Advisers Inc. PA purchased a new stake in shares of Tabula Rasa Healthcare during the third quarter valued at about $3,989,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Tabula Rasa Healthcare during the third quarter valued at about $3,324,000. Wells Fargo & Company MN purchased a new stake in shares of Tabula Rasa Healthcare during the third quarter valued at about $3,738,000. Finally, Jennison Associates LLC purchased a new stake in shares of Tabula Rasa Healthcare during the third quarter valued at about $3,862,000. 23.48% of the stock is owned by institutional investors and hedge funds.

About Tabula Rasa Healthcare

Tabula Rasa HealthCare, Inc (Tabula Rasa), formerly CareKinesis, Inc, is a provider of patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize medication regimens to improve patient outcomes, reduce hospitalizations and manage risk. The Company delivers its solutions through a suite of technology-enabled products and services for medication risk management, which includes bundled prescription fulfillment and adherence packaging services for client populations with complex prescription needs.

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