JPMorgan Chase & Co. acquired a new position in shares of Tabula Rasa HealthCare Inc (NASDAQ:TRHC) in the 3rd quarter, HoldingsChannel reports. The fund acquired 20,873 shares of the company’s stock, valued at approximately $563,000.
Other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Tabula Rasa HealthCare by 47.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 19,412 shares of the company’s stock valued at $293,000 after purchasing an additional 6,228 shares during the last quarter. Teachers Advisors LLC lifted its holdings in shares of Tabula Rasa HealthCare by 203.5% in the 2nd quarter. Teachers Advisors LLC now owns 16,500 shares of the company’s stock valued at $248,000 after purchasing an additional 11,063 shares during the last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of Tabula Rasa HealthCare by 206.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 24,913 shares of the company’s stock valued at $375,000 after purchasing an additional 16,782 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Tabula Rasa HealthCare by 257.0% in the 2nd quarter. New York State Common Retirement Fund now owns 10,000 shares of the company’s stock valued at $151,000 after purchasing an additional 7,199 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Tabula Rasa HealthCare by 97.4% in the 2nd quarter. Northern Trust Corp now owns 95,862 shares of the company’s stock valued at $1,443,000 after purchasing an additional 47,306 shares during the last quarter. 31.85% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently weighed in on TRHC shares. Piper Jaffray Companies reissued a “buy” rating and issued a $29.00 target price on shares of Tabula Rasa HealthCare in a report on Tuesday, October 24th. First Analysis initiated coverage on Tabula Rasa HealthCare in a report on Wednesday, November 1st. They issued an “overweight” rating and a $41.00 target price for the company. BidaskClub downgraded Tabula Rasa HealthCare from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. Robert W. Baird reaffirmed an “outperform” rating and set a $30.00 price objective (up from $22.00) on shares of Tabula Rasa HealthCare in a research note on Tuesday, October 17th. Finally, Oppenheimer initiated coverage on Tabula Rasa HealthCare in a research note on Monday, December 18th. They set an “outperform” rating and a $35.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $29.78.
In other news, Director Gordon Tunstall sold 15,000 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $25.85, for a total transaction of $387,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Orsula V. Knowlton sold 123,000 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $25.97, for a total value of $3,194,310.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,099,180 shares of company stock valued at $28,483,763. Company insiders own 45.80% of the company’s stock.
Shares of Tabula Rasa HealthCare Inc (TRHC) opened at $32.86 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.66 and a current ratio of 0.73. The company has a market capitalization of $588.13, a P/E ratio of -131.44, a price-to-earnings-growth ratio of 3.44 and a beta of 3.20. Tabula Rasa HealthCare Inc has a one year low of $11.59 and a one year high of $36.80.
Tabula Rasa HealthCare (NASDAQ:TRHC) last issued its earnings results on Monday, November 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The business had revenue of $33.27 million during the quarter, compared to the consensus estimate of $31.76 million. Tabula Rasa HealthCare had a negative return on equity of 5.58% and a negative net margin of 2.27%. The company’s revenue for the quarter was up 37.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 EPS. equities research analysts predict that Tabula Rasa HealthCare Inc will post 0.03 earnings per share for the current year.
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Tabula Rasa HealthCare Company Profile
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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