Tabula Rasa Healthcare (TRHC) Surges 7.8%: Is This an Indication of Further Gains?
Tabula Rasa Healthcare TRHC shares soared 7.8% in the last trading session to close at $6.90. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 7.2% gain over the past four weeks.
Tabula Rasa HealthCare scored a strong price increase, driven by the investor’s optimism surrounding the company’s satisfactory performance in the first quarter of 2023. The company delivered better-than-expected earnings and revenues, including a 35% year over year increase in Medication revenues due to continued strong PACE census growth at existing centers and higher revenue per PACE participant.
This developer of health care software is expected to post quarterly loss of $0.14 per share in its upcoming report, which represents a year-over-year change of +56.3%. Revenues are expected to be $88.82 million, up 22.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Tabula Rasa Healthcare, the consensus EPS estimate for the quarter has been revised 2.3% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on TRHC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Tabula Rasa Healthcare is part of the Zacks Medical Info Systems industry. Nextgen Healthcare NXGN, another stock in the same industry, closed the last trading session 0.1% higher at $16.26. NXGN has returned -2.7% in the past month.
Nextgen Healthcare's consensus EPS estimate for the upcoming report has changed +1.3% over the past month to $0.21. Compared to the company's year-ago EPS, this represents a change of +31.3%. Nextgen Healthcare currently boasts a Zacks Rank of #3 (Hold).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Tabula Rasa Healthcare (TRHC) : Free Stock Analysis Report
NEXTGEN HEALTHCARE, INC (NXGN) : Free Stock Analysis Report
