Envestnet Asset Management Inc. raised its stake in Tabula Rasa HealthCare Inc (NASDAQ:TRHC) by 45.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,020 shares of the company’s stock after acquiring an additional 6,915 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.10% of Tabula Rasa HealthCare worth $1,099,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. CWM LLC acquired a new position in shares of Tabula Rasa HealthCare during the 2nd quarter worth approximately $4,569,000. Peregrine Capital Management LLC increased its position in shares of Tabula Rasa HealthCare by 20.7% during the second quarter. Peregrine Capital Management LLC now owns 335,984 shares of the company’s stock worth $16,776,000 after purchasing an additional 57,639 shares in the last quarter. First Mercantile Trust Co. increased its position in shares of Tabula Rasa HealthCare by 64.5% during the first quarter. First Mercantile Trust Co. now owns 995 shares of the company’s stock worth $56,000 after purchasing an additional 390 shares in the last quarter. Handelsbanken Fonder AB purchased a new stake in shares of Tabula Rasa HealthCare during the second quarter worth approximately $6,241,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Tabula Rasa HealthCare during the second quarter worth approximately $17,074,000. 98.75% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on TRHC shares. ValuEngine upgraded Tabula Rasa HealthCare from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 4th. TheStreet cut Tabula Rasa HealthCare from a “c-” rating to a “d+” rating in a report on Tuesday, June 11th. Zacks Investment Research upgraded Tabula Rasa HealthCare from a “hold” rating to a “strong-buy” rating and set a $72.00 target price for the company in a report on Friday, August 16th. Stifel Nicolaus upgraded Tabula Rasa HealthCare from a “hold” rating to a “buy” rating and increased their price target for the stock from $50.00 to $75.00 in a report on Friday, August 30th. Finally, BidaskClub cut Tabula Rasa HealthCare from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $81.30.
TRHC traded up $0.65 during mid-day trading on Friday, hitting $55.85. 20,599 shares of the stock were exchanged, compared to its average volume of 347,868. The company has a current ratio of 1.97, a quick ratio of 1.90 and a debt-to-equity ratio of 1.31. The company has a market cap of $1.20 billion, a PE ratio of 164.09 and a beta of 1.67. The firm’s fifty day moving average is $59.47 and its two-hundred day moving average is $54.13. Tabula Rasa HealthCare Inc has a 1-year low of $40.86 and a 1-year high of $87.90.
Tabula Rasa HealthCare (NASDAQ:TRHC) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.29. The company had revenue of $76.26 million for the quarter, compared to analyst estimates of $70.40 million. Tabula Rasa HealthCare had a positive return on equity of 3.63% and a negative net margin of 7.09%. Tabula Rasa HealthCare’s revenue for the quarter was up 56.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.20 EPS. As a group, research analysts anticipate that Tabula Rasa HealthCare Inc will post -0.15 earnings per share for the current year.
In other news, CFO Brian W. Adams sold 2,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $60.00, for a total value of $120,000.00. Following the transaction, the chief financial officer now owns 198,037 shares in the company, valued at approximately $11,882,220. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Orsula V. Knowlton sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $48.33, for a total value of $386,640.00. The disclosure for this sale can be found here. Insiders sold a total of 73,000 shares of company stock worth $4,172,460 in the last ninety days. 11.80% of the stock is owned by corporate insiders.
About Tabula Rasa HealthCare
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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