Tabula Rasa HealthCare, Inc. (NASDAQ:TRHC – Get Rating) was the target of a large increase in short interest in January. As of January 31st, there was short interest totalling 1,740,000 shares, an increase of 42.6% from the January 15th total of 1,220,000 shares. Based on an average trading volume of 95,700 shares, the days-to-cover ratio is presently 18.2 days. Currently, 7.2% of the company’s stock are short sold.
Insider Activity at Tabula Rasa HealthCare
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In related news, Director Michael J. Purcell sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $4.26, for a total value of $42,600.00. Following the transaction, the director now owns 88,514 shares of the company’s stock, valued at approximately $377,069.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Thomas Cancro bought 11,500 shares of Tabula Rasa HealthCare stock in a transaction dated Monday, December 12th. The stock was purchased at an average cost of $4.34 per share, with a total value of $49,910.00. Following the transaction, the chief financial officer now directly owns 211,500 shares of the company’s stock, valued at $917,910. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Purcell sold 10,000 shares of the stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $4.26, for a total transaction of $42,600.00. Following the transaction, the director now directly 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 insiders.
Institutional Trading of Tabula Rasa HealthCare
A number of hedge funds and other institutional investors have recently bought and sold shares of TRHC. Teachers Retirement System of The State of Kentucky bought a new stake in Tabula Rasa HealthCare during the 3rd quarter worth approximately $25,000. Delphia USA Inc. increased its holdings in shares of Tabula Rasa HealthCare by 27.5% in the 2nd quarter. Delphia USA Inc. now owns 13,851 shares of the company’s stock worth $36,000 after buying an additional 2,984 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Tabula Rasa HealthCare during the 2nd quarter valued at $44,000. Creative Planning bought a new stake in shares of Tabula Rasa HealthCare during the 2nd quarter worth $47,000. Finally, Eagle Asset Management Inc. grew its position in Tabula Rasa HealthCare by 27.8% in the second quarter. Eagle Asset Management Inc. now owns 20,402 shares of the company’s stock worth $52,000 after acquiring an additional 4,434 shares in the last quarter. Institutional investors own 60.90% of the company’s stock.
Tabula Rasa HealthCare Trading Up 0.3 %
Tabula Rasa HealthCare stock opened at $6.08 on Friday. The firm’s 50 day simple moving average is $5.15 and its 200 day simple moving average is $4.64. The firm has a market capitalization of $164.89 million, a PE ratio of -1.05 and a beta of 1.57. Tabula Rasa HealthCare has a 1-year low of $2.09 and a 1-year high of $9.62.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the stock. Piper Sandler reduced their target price on shares of Tabula Rasa HealthCare from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Monday, November 7th. StockNews.com upgraded shares of Tabula Rasa HealthCare from a “sell” rating to a “hold” rating in a research note on Thursday, October 20th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Tabula Rasa HealthCare currently has an average rating of “Hold” and a consensus price target of $7.38.
About Tabula Rasa HealthCare
Tabula Rasa Healthcare, Inc is a healthcare technology company, which engages in the development of solutions designed for pharmacists, providers, and patients to optimize medication regimens. It operates through the following segments: CareVention HealthCare and MedWise HealthCare. The CareVention HealthCare segment provides services, PACE, which is a center for Medicare & Medicaid services, or CMS, sponsored program providing medical and social services.
Further Reading
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