Tabula Rasa HealthCare, Inc. (NASDAQ:TRHC – Get Rating) – Analysts at SVB Leerink boosted their FY2023 earnings per share estimates for Tabula Rasa HealthCare in a research note issued to investors on Wednesday, January 18th. SVB Leerink analyst S. Davis now forecasts that the company will post earnings per share of ($0.18) for the year, up from their prior estimate of ($0.19). The consensus estimate for Tabula Rasa HealthCare's current full-year earnings is ($2.12) per share.
Get Tabula Rasa HealthCare alerts:Several other research analysts have also recently issued reports on TRHC. StockNews.com upgraded Tabula Rasa HealthCare from a "sell" rating to a "hold" rating in a research note on Thursday, October 20th. Piper Sandler reduced their price objective on Tabula Rasa HealthCare from $6.00 to $4.00 and set a "neutral" rating for the company in a research note on Monday, November 7th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $8.10.
Tabula Rasa HealthCare Stock Up 16.2 %
Shares of NASDAQ:TRHC opened at $6.01 on Friday. Tabula Rasa HealthCare has a 52-week low of $2.09 and a 52-week high of $14.94. The stock has a market cap of $163.02 million, a price-to-earnings ratio of -1.03 and a beta of 1.58. The business has a 50-day moving average price of $4.46 and a 200-day moving average price of $4.29.Tabula Rasa HealthCare (NASDAQ:TRHC – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.78). Tabula Rasa HealthCare had a negative return on equity of 472.90% and a negative net margin of 46.03%. The firm had revenue of $77.10 million during the quarter, compared to analysts' expectations of $73.68 million.
Institutional Trading of Tabula Rasa HealthCare
A number of institutional investors and hedge funds have recently made changes to their positions in TRHC. Jacobs Levy Equity Management Inc. increased its position in shares of Tabula Rasa HealthCare by 258.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 626,810 shares of the company's stock valued at $3,009,000 after buying an additional 452,154 shares in the last quarter. UBS Group AG increased its position in shares of Tabula Rasa HealthCare by 11,041.9% in the third quarter. UBS Group AG now owns 378,155 shares of the company's stock valued at $1,815,000 after buying an additional 374,761 shares in the last quarter. Engineers Gate Manager LP increased its position in shares of Tabula Rasa HealthCare by 255.0% in the first quarter. Engineers Gate Manager LP now owns 313,385 shares of the company's stock valued at $1,805,000 after buying an additional 225,097 shares in the last quarter. Two Sigma Investments LP increased its position in shares of Tabula Rasa HealthCare by 180.9% in the third quarter. Two Sigma Investments LP now owns 314,226 shares of the company's stock valued at $1,508,000 after buying an additional 202,352 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Tabula Rasa HealthCare in the third quarter valued at approximately $895,000. 60.90% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Tabula Rasa HealthCare
In related news, Director Michael J. Purcell sold 10,000 shares of Tabula Rasa HealthCare stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $4.26, for a total transaction of $42,600.00. Following the completion of the transaction, the director now directly owns 88,514 shares in the company, valued at $377,069.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Tabula Rasa HealthCare news, CFO Thomas Cancro acquired 11,500 shares of the business's stock in a transaction dated Monday, December 12th. The stock was acquired at an average cost of $4.34 per share, for a total transaction of $49,910.00. Following the completion of the transaction, the chief financial officer now directly owns 211,500 shares of the company's stock, valued at $917,910. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael J. Purcell sold 10,000 shares of the business's stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $4.26, for a total value of $42,600.00. Following the completion of the sale, the director now owns 88,514 shares of the company's stock, valued at $377,069.64. The disclosure for this sale can be found here. 7.25% of the stock is owned by company insiders.
About Tabula Rasa HealthCare
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Tabula Rasa HealthCare, Inc operates as a healthcare technology company in the United States. The company operates in two segments, CareVention HealthCare and MedWise HealthCare. It offers EireneRx, a cloud-based medication decision-support and e-prescribing platform to access patient medication-related information; and MedWise medication therapy management software, a cloud-based platform designed to aid in the identification and resolution of medication and health-related problems.
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