The company is expected to release its second-quarter results on August 9. Knowlton, said, “Our preliminary second-quarter revenue performance underscores the ongoing momentum in the business as we continue to see increased demand for our core offering.” The company’s CEO, Chairman, and Founder, Calvin H. Revenues in the quarter are estimated to be within the $72-$73 million range, higher than the $66-$69 million stated previously. Last week, this insider-friendly stock released its preliminary results for the second quarter of 2022. TRHC’s Preliminary Second-Quarter Results Considering these insider trading actions, it is clear that Tabula Rasa HealthCare is in the good books of its top officials and owners. It is worth mentioning here that, corporate insiders conducted multiple Uninformative Buy trades in June 2022. The insider’s holding in TRHC is now worth $28.4 million. The insider purchased 1.29 million shares of TRHC at $3.97 per share. It is headquartered in New Jersey and currently has a market capitalization of $113.7 million.Īccording to TipRanks’ Insiders Trading tool, the $5.1 million Informative Buy transaction was conducted by Indaba Capital Management, L.P., an owner of more than 10% stake in Tabula Rasa. Tabula Rasa is one of the leading developers of pharmaceutical software. The last closing price of the stock was $4.40. ( NASDAQ: TRHC) increased 2.1% on Monday after one of its corporate insiders bought the company’s shares worth $5.1 million.
TABULA RASA STOCK SOFTWARE
Yes, and: Omnicell, whose pharmacy-focused hardware and software is dominant in hospitals, could be a logical buyer as it has been trying to get into more independent pharmacies, one source notes. Also relevant is RedSail Technologies, a two-year-old investment of Francisco Partners.And, in May 2021, BlackRock’s perpetual capital fund agreed to acquire a majority interest in Transaction Data Systems, a pharmacy management solutions and services company, from GTCR.A year earlier Avista Capital Partners bought XIFIN from GTCR.Zoom in: Sources say the best comp for PrescribeWellness is OmniSYS, which NexPhase Capital in December agreed to sell to health care IT company XIFIN. Why? There’s been a lot of relevant investment activity.Pharmacy-focused technology solutions such as PrescribeWellness are a much more understood area of the market than it was 18 months ago.
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Its MTM business, which does TK, has been more challenged, having lost its CVS contract last year.īe smart: The timing is not only logical given Tabula’s share performance.Tabula Rasa scooped up PrescribeWellness less than three years ago for $150 million.
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PrescribeWellness, a CRM (customer relationship management) tool that’s integrated with over 10,000 independent pharmacy operating systems, “has grown well, is a great asset, but it probably could have grown faster,” one source notes.Citigroup is providing financial advice on the potential divestitures, they say. What’s happening: Advanced discussions are underway with a focused group of potential strategic buyers that includes logical PE-backed players, sources say. Shares of Tabula Rasa have fallen nearly 87% over the last 12 months.After announcing in February a letter of intent to sell DoseMeRx, a precision dosing tool used by pharmacists and physicians, this is another potential step in that direction.Why it’s the BFD: Amid deteriorating share performance, Tabula in recent months has been vocal about its intent to divest non-core assets to improve profitability, strengthen the balance sheet and become and remain cash flow positive by Q3. Tabula Rasa HealthCare (Nasdaq: TRHC) is exploring options for its PrescribeWellness and medication therapy management (MTM) businesses, sources tell Sarah.