Brokerages forecast that Medical Transcription Billing Corp (NASDAQ:MTBC) will post $16.05 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Medical Transcription Billing’s earnings, with the lowest sales estimate coming in at $16.00 million and the highest estimate coming in at $16.09 million. Medical Transcription Billing reported sales of $8.29 million during the same quarter last year, which indicates a positive year over year growth rate of 93.6%. The firm is scheduled to report its next earnings results on Wednesday, March 6th.
On average, analysts expect that Medical Transcription Billing will report full-year sales of $50.07 million for the current year, with estimates ranging from $50.00 million to $50.13 million. For the next financial year, analysts expect that the firm will post sales of $64.64 million, with estimates ranging from $63.00 million to $66.93 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Medical Transcription Billing.
Medical Transcription Billing (NASDAQ:MTBC) last released its quarterly earnings data on Wednesday, November 7th. The technology company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The firm had revenue of $17.05 million for the quarter, compared to analyst estimates of $16.66 million. Medical Transcription Billing had a negative return on equity of 8.26% and a negative net margin of 6.62%.
Separately, HC Wainwright set a $6.00 price target on shares of Medical Transcription Billing and gave the company a “buy” rating in a research note on Thursday, November 8th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Medical Transcription Billing currently has a consensus rating of “Buy” and an average price target of $3.92.
In related news, General Counsel Shruti H. Patel sold 12,291 shares of the company’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $4.61, for a total value of $56,661.51. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Bill Korn sold 9,664 shares of the company’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $5.52, for a total transaction of $53,345.28. Following the completion of the transaction, the chief financial officer now owns 167,750 shares in the company, valued at approximately $925,980. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,760 shares of company stock worth $267,050. 49.70% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in MTBC. Virtu Financial LLC acquired a new position in Medical Transcription Billing in the 3rd quarter valued at about $101,000. Dimensional Fund Advisors LP bought a new position in shares of Medical Transcription Billing during the second quarter worth approximately $108,000. Finally, Macquarie Group Ltd. increased its holdings in shares of Medical Transcription Billing by 59.6% during the second quarter. Macquarie Group Ltd. now owns 100,401 shares of the technology company’s stock worth $389,000 after purchasing an additional 37,501 shares during the period. Institutional investors and hedge funds own 5.52% of the company’s stock.
MTBC traded down $0.23 on Monday, reaching $4.70. The company had a trading volume of 52,720 shares, compared to its average volume of 74,770. Medical Transcription Billing has a fifty-two week low of $2.53 and a fifty-two week high of $5.65. The firm has a market cap of $58.32 million, a P/E ratio of -36.15 and a beta of 1.57. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.65 and a current ratio of 1.70.
About Medical Transcription Billing
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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