Medical Transcription Billing Corp (NASDAQ:MTBC) Given $7.88 Average Target Price by Analysts
Shares of Medical Transcription Billing Corp (NASDAQ:MTBC) have earned a consensus broker rating score of 1.50 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a buy rating and one has given a strong buy rating to the company.
Brokers have set a 12 month consensus price objective of $7.88 for the company and are predicting that the company will post ($0.19) earnings per share for the current quarter, according to Zacks. Zacks has also given Medical Transcription Billing an industry rank of 75 out of 256 based on the ratings given to its competitors.
A number of research analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating on shares of Medical Transcription Billing in a research note on Thursday, May 9th. ValuEngine upgraded shares of Medical Transcription Billing from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 4th. Finally, Dougherty & Co began coverage on shares of Medical Transcription Billing in a report on Friday, March 15th. They issued a “buy” rating for the company.
Medical Transcription Billing (NASDAQ:MTBC) last announced its quarterly earnings results on Wednesday, March 20th. The technology company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.03. Medical Transcription Billing had a negative return on equity of 10.79% and a negative net margin of 6.22%. The company had revenue of $16.51 million for the quarter, compared to the consensus estimate of $16.05 million. Research analysts expect that Medical Transcription Billing will post -0.48 earnings per share for the current year.
In other news, CFO Bill Korn sold 11,024 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $5.47, for a total transaction of $60,301.28. Following the transaction, the chief financial officer now directly owns 173,255 shares in the company, valued at $947,704.85. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Shruti H. Patel sold 10,750 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $4.50, for a total transaction of $48,375.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,374 shares of company stock valued at $190,754. 50.50% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Level Four Advisory Services LLC lifted its stake in shares of Medical Transcription Billing by 168.3% during the fourth quarter. Level Four Advisory Services LLC now owns 29,650 shares of the technology company’s stock valued at $113,000 after buying an additional 18,600 shares during the period. Hancock Whitney Corp acquired a new position in Medical Transcription Billing during the fourth quarter worth approximately $138,000. Dimensional Fund Advisors LP increased its position in shares of Medical Transcription Billing by 33.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 37,273 shares of the technology company’s stock worth $142,000 after acquiring an additional 9,364 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Medical Transcription Billing by 23.3% in the fourth quarter. Geode Capital Management LLC now owns 37,854 shares of the technology company’s stock worth $143,000 after acquiring an additional 7,160 shares in the last quarter. 6.45% of the stock is currently owned by institutional investors.
Medical Transcription Billing Company Profile
Medical Transcription Billing, Corp. is a healthcare information technology company that provides an integrated suite of Web-based solutions, together with related business services, to healthcare providers practicing in ambulatory care settings. The Company’s offering, PracticePro, allows healthcare practices with the core software and business services on Software-as-a-Service (SaaS) platform.
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