Comerica Bank Purchases 857 Shares of Tabula Rasa HealthCare Inc (NASDAQ:TRHC)

Comerica Bank increased its stake in Tabula Rasa HealthCare Inc (NASDAQ:TRHC) by 5.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,376 shares of the company’s stock after acquiring an additional 857 shares during the period. Comerica Bank owned approximately 0.08% of Tabula Rasa HealthCare worth $989,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TRHC. BlackRock Inc. increased its stake in shares of Tabula Rasa HealthCare by 1.6% in the fourth quarter. BlackRock Inc. now owns 2,600,884 shares of the company’s stock worth $165,831,000 after buying an additional 40,174 shares during the last quarter. M&T Bank Corp acquired a new position in shares of Tabula Rasa HealthCare during the fourth quarter valued at $33,749,000. Macquarie Group Ltd. boosted its holdings in shares of Tabula Rasa HealthCare by 1,418.9% during the fourth quarter. Macquarie Group Ltd. now owns 316,040 shares of the company’s stock valued at $20,151,000 after acquiring an additional 295,233 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Tabula Rasa HealthCare by 8.6% during the fourth quarter. Bank of New York Mellon Corp now owns 280,883 shares of the company’s stock valued at $17,910,000 after acquiring an additional 22,270 shares during the period. Finally, Peregrine Capital Management LLC boosted its holdings in shares of Tabula Rasa HealthCare by 5.8% during the first quarter. Peregrine Capital Management LLC now owns 278,345 shares of the company’s stock valued at $15,704,000 after acquiring an additional 15,249 shares during the period. Hedge funds and other institutional investors own 86.68% of the company’s stock.

In other news, CEO Calvin H. Knowlton sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $54.50, for a total transaction of $436,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Calvin H. Knowlton sold 8,270 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was 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. In the last three months, insiders sold 49,270 shares of company stock valued at $2,435,614. 11.80% of the stock is currently owned by company insiders.

Several brokerages have commented on TRHC. Zacks Investment Research upgraded shares of Tabula Rasa HealthCare from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. BidaskClub upgraded shares of Tabula Rasa HealthCare from a “sell” rating to a “hold” rating in a research report on Thursday, June 13th. ValuEngine cut shares of Tabula Rasa HealthCare from a “buy” rating to a “hold” rating in a research report on Monday, May 13th. TheStreet cut shares of Tabula Rasa HealthCare from a “c-” rating to a “d+” rating in a research report on Tuesday, June 11th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $99.00 price target on shares of Tabula Rasa HealthCare in a research report on Monday, May 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $82.12.

NASDAQ TRHC traded down $1.63 on Wednesday, hitting $47.68. 315,400 shares of the company were exchanged, compared to its average volume of 393,648. The company has a quick ratio of 1.73, a current ratio of 1.80 and a debt-to-equity ratio of 1.31. Tabula Rasa HealthCare Inc has a twelve month low of $40.86 and a twelve month high of $91.16. The company’s 50 day moving average price is $46.72. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 140.24 and a beta of 1.69.

Tabula Rasa HealthCare (NASDAQ:TRHC) last released its earnings results on Wednesday, May 8th. The company reported ($0.14) earnings per share for the quarter, meeting the Thomson Reuters’ 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 company had revenue of $60.96 million for the quarter, compared to analysts’ expectations of $59.24 million. Equities research analysts expect that Tabula Rasa HealthCare Inc will post -0.55 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Tabula Rasa HealthCare (NASDAQ:TRHC)

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