Zacks Investment Research Downgrades TRxADE HEALTH (NASDAQ:MEDS) to Hold

TRxADE HEALTH (NASDAQ:MEDS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “TRxADE HEALTH INC. is a health services IT company focused on digitalizing the retail pharmacy experience. TRxADE HEALTH INC., formerly known as TRxADE Group Inc., is based in TAMPA, FL. “

Several other research firms have also issued reports on MEDS. Colliers Securities reaffirmed a “buy” rating and issued a $8.00 price target on shares of TRxADE HEALTH in a report on Tuesday, July 27th. Maxim Group reissued a “buy” rating and set a $11.00 price objective on shares of TRxADE HEALTH in a report on Wednesday, July 28th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, TRxADE HEALTH currently has a consensus rating of “Buy” and an average price target of $9.44.

TRxADE HEALTH stock opened at $3.47 on Wednesday. The company has a 50 day moving average price of $4.43 and a 200-day moving average price of $4.62. TRxADE HEALTH has a fifty-two week low of $3.10 and a fifty-two week high of $10.82.

TRxADE HEALTH (NASDAQ:MEDS) last posted its quarterly earnings results on Sunday, October 24th. The company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.03). The company had revenue of $2.55 million for the quarter, compared to the consensus estimate of $1.94 million. TRxADE HEALTH had a negative net margin of 72.07% and a negative return on equity of 63.53%. During the same period in the prior year, the firm posted $0.02 EPS. On average, sell-side analysts predict that TRxADE HEALTH will post -0.52 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blueshift Asset Management LLC acquired a new position in TRxADE HEALTH during the second quarter valued at $59,000. Renaissance Technologies LLC raised its position in shares of TRxADE HEALTH by 176.1% in the first quarter. Renaissance Technologies LLC now owns 110,700 shares of the company’s stock worth $580,000 after acquiring an additional 70,600 shares during the period. Geode Capital Management LLC raised its position in shares of TRxADE HEALTH by 105.1% in the third quarter. Geode Capital Management LLC now owns 42,057 shares of the company’s stock worth $208,000 after acquiring an additional 21,547 shares during the period. National Asset Management Inc. raised its position in shares of TRxADE HEALTH by 4.2% in the third quarter. National Asset Management Inc. now owns 277,703 shares of the company’s stock worth $1,368,000 after acquiring an additional 11,203 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of TRxADE HEALTH in the third quarter worth about $71,000. Institutional investors own 6.24% of the company’s stock.

About TRxADE HEALTH

TRxADE HEALTH, Inc provides an online platform for pharmaceutical purchasers. It owns and operates a business-to-business web-based marketplace focuses on the United States pharmaceutical industry. The firm operates web-based market platform that enables trade among healthcare buyers and sellers of pharmaceuticals, accessories and services.

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