Medical Transcription Billing Corp (NASDAQ:MTBC) Given Consensus Rating of “Buy” by Analysts

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Medical Transcription Billing Corp (NASDAQ:MTBC) has been assigned a consensus broker rating score of 1.50 (Buy) from the two analysts that cover 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 12-month consensus price target 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 106 out of 256 based on the ratings given to related companies.

A number of brokerages have recently issued reports on MTBC. ValuEngine upgraded shares of XPO Logistics from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 4th. HC Wainwright boosted their price target on shares of Palatin Technologies from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th.

NASDAQ:MTBC traded down $0.14 during mid-day trading on Wednesday, hitting $4.93. 752 shares of the company’s stock were exchanged, compared to its average volume of 40,058. The stock’s 50 day moving average is $4.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.53 and a quick ratio of 2.49. Medical Transcription Billing has a fifty-two week low of $3.25 and a fifty-two week high of $5.65. The company has a market cap of $60.98 million, a price-to-earnings ratio of -8.49 and a beta of 1.63.

Medical Transcription Billing (NASDAQ:MTBC) last posted its earnings results on Wednesday, May 8th. The technology company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.10. Medical Transcription Billing had a negative net margin of 6.22% and a negative return on equity of 10.79%. The business had revenue of $15.08 million for the quarter, compared to the consensus estimate of $14.65 million. On average, analysts forecast that Medical Transcription Billing will post -0.48 earnings per share for the current year.

In related news, CFO Bill Korn sold 11,024 shares of the business’s stock in a transaction on 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 owns 173,255 shares in the company, valued at approximately $947,704.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mahmud Ul Haq sold 179,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $5.00, for a total transaction of $895,000.00. Following the transaction, the insider now owns 4,902,070 shares in the company, valued at approximately $24,510,350. The disclosure for this sale can be found here. Insiders sold a total of 197,624 shares of company stock worth $992,179 in the last 90 days. Corporate insiders own 50.50% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of Medical Transcription Billing by 23.3% during the 4th quarter. Geode Capital Management LLC now owns 37,854 shares of the technology company’s stock valued at $143,000 after acquiring an additional 7,160 shares during the period. Dimensional Fund Advisors LP increased its stake in Medical Transcription Billing by 33.6% during 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. Finally, Hancock Whitney Corp bought a new stake in Medical Transcription Billing during the 4th quarter valued at $138,000. Institutional investors own 6.45% of the company’s stock.

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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