Oppenheimer analyst Mohan Naidu maintained a Buy rating on Tabula Rasa HealthCare (NASDAQ: TRHC) yesterday and set a price target of $65. The company’s shares closed yesterday at $61.01.
Naidu said:
“Tabula Rasa reported another strong quarter, beating estimates at $48.6M/$0.20 vs. consensus $46.8M/$0.15E. Several developments make us more excited. The company’s pilot with CMS was the only enhanced MTM (of six vendors) to achieve >2% savings in Part A and Part B services by focusing on medication safety, which is likely to draw the attention of larger plans. TRHC also signed up Portuguese National Association (ANF) to explore the use of the company’s offerings, which we believe is highly likely to become the standard in the country due to its single-payer system. The company announced new plans for TRHC 2.0 to expedite the development of company’s offerings and invest in analytics, which can dramatically improve the growth opportunities. Increasing our target to $65 from $63; reiterate Outperform.”
According to TipRanks.com, Naidu is a 5-star analyst with an average return of 14.1% and a 61.8% success rate. Naidu covers the Services sector, focusing on stocks such as Tivity Health Inc, Hms Holdings Corp, and Express Scripts.
Tabula Rasa HealthCare has an analyst consensus of Strong Buy, with a price target consensus of $57.75.
See today’s analyst top recommended stocks >>
The company has a one-year high of $70.15 and a one-year low of $16.72. Currently, Tabula Rasa HealthCare has an average volume of 335.5K.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Tabula Rasa Healthcare, Inc. engages in the development of pharmaceutical software that optimizes medication regimens. It offers cloud-based applications, such as EireneRx and MedWise Advisor. The company was founded by Calvin H. Knowlton and Orsula V. Knowlton in April 2009 and is headquartered in Moorestown, NJ.
