Tabula Rasa HealthCare Receives a Buy from Oppenheimer

By Jason Carr

Oppenheimer analyst Mohan Naidu reiterated a Buy rating on Tabula Rasa HealthCare (NASDAQ: TRHC) today and set a price target of $47. The company’s shares closed yesterday at $37.80, close to its 52-week high of $39.81.

Naidu wrote:

“Tabula Rasa beat 4Q17 revenue and EBITDA forecasts, at $44M/$7M vs. our $40M/$6.6M estimates. The SinfoníaRx acquisition delivered better than expected numbers along with strong organic service revenues. The increasing penetration of the company’s risk scoring (scored >13M lives in past 12 months) and traction with EMTM platform in year two are starting to show results. We believe medication therapy management (MTM) is starting to gain attention as outcomes are compelling in multi-med users. TRHC’s approach to addressing the opioid crisis is likely to draw further attention to the potential of MTM solutions, and optimism around the upcoming rules allocating MTM costs into MLR should help further penetrate commercial health plans. Reiterate Outperform rating, increasing target to $47 from $35.”

According to, Naidu is a 4-star analyst with an average return of 8.1% and a 56.0% success rate. Naidu covers the Technology sector, focusing on stocks such as Quality Systems, Athenahealth, and Cerner Corp.

Tabula Rasa HealthCare has an analyst consensus of Strong Buy, with a price target consensus of $40.

Based on Tabula Rasa HealthCare’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $43.93 million and quarterly net profit of $10.95 million. In comparison, last year the company earned revenue of $27.31 million and had a GAAP net loss of $6.03 million.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TRHC in relation to earlier this year.

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Tabula Rasa Healthcare, Inc. engages in the provision of personalized medication therapy management and pharmacy services to reduce medication risk. It provides patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize medication regimens to improve patient outcomes, reduce hospitalizations, lower healthcare costs and manage risk. The company was founded by Calvin H. Knowlton and Orsula V. Knowlton in April 2009 and is headquartered in Moorestown, NJ.