Cantor Fitzgerald restated their buy rating on shares of Tabula Rasa HealthCare (NASDAQ:TRHC) in a research report sent to investors on Monday morning, AnalystRatings.com reports. Cantor Fitzgerald currently has a $99.00 price target on the stock.
“. We reiterate our Overweight rating on TRHC shares and maintain our 12-month price target at $99. Rasa reported 1Q19 results, which appeared to be strong. We note that the company posted strong organic growth of 19%. Adjusted EBITDA was above our estimate and the company reaffirmed its 2019 guidance for revenue and adjusted EBITDA. Our EPS estimates moved lower to reflect the higher interest expense given the 1Q19 convert. While the company has executed in the short term, we suspect that investors are more concerned about the number of acquisitions the company has completed in the last two years and its integration efforts.”,” the firm’s analyst commented.
TRHC has been the subject of a number of other research reports. Oppenheimer reduced their price objective on Tabula Rasa HealthCare from $97.00 to $88.00 and set an outperform rating for the company in a research report on Wednesday, March 6th. BidaskClub lowered Tabula Rasa HealthCare from a sell rating to a strong sell rating in a research report on Saturday, February 9th. Zacks Investment Research lowered Tabula Rasa HealthCare from a strong-buy rating to a hold rating in a research report on Tuesday, January 22nd. First Analysis upgraded Tabula Rasa HealthCare from an outperform rating to a strong-buy rating and set a $58.33 price objective for the company in a research report on Monday, March 11th. Finally, Piper Jaffray Companies boosted their price objective on Tabula Rasa HealthCare from $73.00 to $78.00 and gave the company an overweight rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Tabula Rasa HealthCare currently has an average rating of Buy and an average target price of $80.53.
Tabula Rasa HealthCare (NASDAQ:TRHC) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.14). Tabula Rasa HealthCare had a positive return on equity of 4.22% and a negative net margin of 18.15%. The business had revenue of $60.96 million during the quarter, compared to analyst estimates of $59.24 million. Equities analysts expect that Tabula Rasa HealthCare will post -0.63 EPS for the current fiscal year.
In other Tabula Rasa HealthCare news, President Orsula V. Knowlton sold 8,000 shares of Tabula Rasa HealthCare stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $57.05, for a total transaction of $456,400.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Calvin H. Knowlton sold 8,270 shares of Tabula Rasa HealthCare stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $53.68, for a total value of $443,933.60. The disclosure for this sale can be found here. Insiders have sold a total of 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.
Institutional investors have recently made changes to their positions in the business. First Mercantile Trust Co. bought a new stake in Tabula Rasa HealthCare during the 4th quarter valued at $39,000. TCI Wealth Advisors Inc. raised its stake in shares of Tabula Rasa HealthCare by 1,600.0% in the 4th quarter. TCI Wealth Advisors Inc. now owns 850 shares of the company’s stock worth $54,000 after buying an additional 800 shares in the last quarter. Quantamental Technologies LLC bought a new stake in shares of Tabula Rasa HealthCare in the 4th quarter worth $64,000. Neuburgh Advisers LLC raised its stake in shares of Tabula Rasa HealthCare by 34.9% in the 1st quarter. Neuburgh Advisers LLC now owns 2,288 shares of the company’s stock worth $129,000 after buying an additional 592 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Tabula Rasa HealthCare in the 4th quarter worth $135,000. 76.85% of the stock is currently owned by hedge funds and other 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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