Shares of Medical Transcription Billing Corp (NASDAQ:MTBC) have earned a consensus broker rating score of 1.50 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a buy rating and one has assigned a strong buy rating to the company.
Brokerages have set a 1 year consensus price target of $7.88 for the company and are predicting that the company will post ($0.19) EPS for the current quarter, according to Zacks. Zacks has also assigned Medical Transcription Billing an industry rank of 44 out of 256 based on the ratings given to related companies.
A number of equities analysts have recently issued reports on MTBC shares. HC Wainwright set a $6.00 target price on Medical Transcription Billing and gave the stock a “buy” rating in a research note on Friday, April 5th. ValuEngine raised Medical Transcription Billing from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 4th. Finally, Dougherty & Co started coverage on Medical Transcription Billing in a research note on Friday, March 15th. They set a “buy” rating for the company.
Medical Transcription Billing stock opened at $4.70 on Wednesday. Medical Transcription Billing has a twelve month low of $3.25 and a twelve month high of $5.65. The company has a quick ratio of 2.49, a current ratio of 2.53 and a debt-to-equity ratio of 0.07. The company has a market cap of $56.53 million, a price-to-earnings ratio of -7.97 and a beta of 1.70.
Medical Transcription Billing (NASDAQ:MTBC) last issued its earnings results on Wednesday, March 20th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. The business had revenue of $16.51 million during the quarter, compared to the consensus estimate of $16.05 million. Medical Transcription Billing had a negative return on equity of 10.79% and a negative net margin of 6.22%. As a group, research analysts forecast that Medical Transcription Billing will post -0.48 EPS for the current year.
In related news, General Counsel Shruti H. Patel sold 10,750 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $4.50, for a total value of $48,375.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Bill Korn sold 11,024 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $5.47, for a total value of $60,301.28. Following the completion of the transaction, the chief financial officer now directly owns 173,255 shares of the company’s stock, valued at $947,704.85. The disclosure for this sale can be found here. Insiders sold a total of 39,374 shares of company stock valued at $190,754 over the last ninety days. 50.50% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in Medical Transcription Billing by 33.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 37,273 shares of the technology company’s stock valued at $142,000 after purchasing an additional 9,364 shares in the last quarter. Level Four Advisory Services LLC increased its position in 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 worth $113,000 after buying an additional 18,600 shares in the last quarter. Hancock Whitney Corp purchased a new position in Medical Transcription Billing during the fourth quarter worth $138,000. Finally, Geode Capital Management LLC increased its position in Medical Transcription Billing by 23.3% during the fourth quarter. Geode Capital Management LLC now owns 37,854 shares of the technology company’s stock worth $143,000 after buying an additional 7,160 shares in the last quarter. 6.45% of the stock is owned by hedge funds and other institutional investors.
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.
Recommended Story: Market Capitalization – What it Means for Investors
Get a free copy of the Zacks research report on Medical Transcription Billing (MTBC)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Medical Transcription Billing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medical Transcription Billing and related companies with MarketBeat.com's FREE daily email newsletter.