Tabula Rasa HealthCare (NASDAQ:TRHC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

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. “

TRHC has been the topic of a number of other reports. BidaskClub lowered Tabula Rasa HealthCare from a “hold” rating to a “sell” rating in a report on Friday, January 25th. Cantor Fitzgerald reiterated a “buy” rating and set a $99.00 target price on shares of Tabula Rasa HealthCare in a report on Thursday, February 28th. Oppenheimer dropped their target price on Tabula Rasa HealthCare from $97.00 to $88.00 and set an “outperform” rating on the stock in a report on Wednesday, March 6th. First Analysis upgraded Tabula Rasa HealthCare from an “outperform” rating to a “strong-buy” rating and set a $58.33 target price on the stock in a report on Monday, March 11th. Finally, Guggenheim began coverage on Tabula Rasa HealthCare in a report on Wednesday, April 17th. They set a “neutral” rating and a $58.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $80.53.

NASDAQ:TRHC traded down $1.37 on Wednesday, reaching $46.68. The company’s stock had a trading volume of 2,767 shares, compared to its average volume of 340,879. Tabula Rasa HealthCare has a 1-year low of $42.29 and a 1-year high of $91.16. The company has a current ratio of 1.80, a quick ratio of 1.73 and a debt-to-equity ratio of 1.31. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 137.79 and a beta of 1.51.

Tabula Rasa HealthCare (NASDAQ:TRHC) last posted its earnings results on Wednesday, May 8th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.14). Tabula Rasa HealthCare had a positive return on equity of 4.22% and a negative net margin of 18.15%. The firm had revenue of $60.96 million during the quarter, compared to analysts’ expectations of $59.24 million. Sell-side analysts forecast that Tabula Rasa HealthCare will post -0.63 earnings per share for the current year.

In other news, CEO Calvin H. Knowlton sold 8,270 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $53.68, for a total value of $443,933.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Orsula V. Knowlton sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $58.10, for a total value of $464,800.00. The disclosure for this sale can be found here. Insiders sold 48,270 shares of company stock worth $2,645,294 in the last ninety days. 14.00% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. RMB Capital Management LLC lifted its stake in shares of Tabula Rasa HealthCare by 1,516.9% in the 1st quarter. RMB Capital Management LLC now owns 55,847 shares of the company’s stock valued at $3,151,000 after acquiring an additional 52,393 shares during the last quarter. Dana Investment Advisors Inc. lifted its stake in shares of Tabula Rasa HealthCare by 14.2% in the 1st quarter. Dana Investment Advisors Inc. now owns 34,555 shares of the company’s stock valued at $1,950,000 after acquiring an additional 4,284 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in Tabula Rasa HealthCare during the 1st quarter worth $212,000. Morgan Stanley raised its position in Tabula Rasa HealthCare by 95.5% during the 1st quarter. Morgan Stanley now owns 65,893 shares of the company’s stock worth $3,718,000 after purchasing an additional 32,184 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY raised its position in Tabula Rasa HealthCare by 113.3% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 12,307 shares of the company’s stock worth $965,000 after purchasing an additional 6,537 shares during the last quarter. 76.85% of the stock is currently owned by institutional investors.

Tabula Rasa HealthCare Company Profile

Tabula Rasa HealthCare, Inc operates as a healthcare technology company in the field of medication safety in the United States. The company's proprietary Medication Risk Mitigation Matrix delivers a multi-drug review, which identifies medication-related risks. Its cloud-based software applications include EireneRx, a medication decision-support and e-prescribing platform to access patients' medication-related information; and MedWise that provides medication decision support components for clients seeking to manage their medication risk and improve medication outcomes, and patient relationships by enhancing their existing systems.

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Analyst Recommendations for Tabula Rasa HealthCare (NASDAQ:TRHC)

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