Brokerages Expect Medical Transcription Billing Corp (NASDAQ:MTBC) to Post ($0.19) Earnings Per Share

Shares of Medical Transcription Billing Corp (NASDAQ:MTBC) have received a consensus broker rating score of 1.50 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a buy rating and one has assigned a strong buy rating to the company.

Brokers have set a 1 year consensus target price of $7.88 for the company and are forecasting that the company will post ($0.19) EPS for the current quarter, according to Zacks. Zacks has also given Medical Transcription Billing an industry rank of 89 out of 256 based on the ratings given to related companies.

Several analysts have recently commented on MTBC shares. HC Wainwright increased their target price on shares of Palatin Technologies from $5.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, May 9th. ValuEngine upgraded shares of XPO Logistics from a “strong sell” rating to a “sell” rating in a report on Thursday, April 4th.

Shares of Medical Transcription Billing stock traded down $0.09 during trading hours on Wednesday, reaching $4.74. The company’s stock had a trading volume of 25,108 shares, compared to its average volume of 60,769. Medical Transcription Billing has a one year low of $3.25 and a one year high of $5.65. The stock has a market cap of $58.11 million, a P/E ratio of -8.03 and a beta of 1.63. The business has a fifty day simple moving average of $4.82. The company has a quick ratio of 2.49, a current ratio of 2.53 and a debt-to-equity ratio of 0.07.

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

In related news, Director John N. Daly sold 6,600 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $4.88, for a total transaction of $32,208.00. Following the completion of the sale, the director now owns 119,750 shares in the company, valued at $584,380. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Bill Korn sold 11,024 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $5.47, for a total transaction of $60,301.28. Following the sale, the chief financial officer now owns 173,255 shares of the company’s stock, valued at approximately $947,704.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 197,624 shares of company stock valued at $992,179. 50.50% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake 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 purchasing an additional 9,364 shares in the last quarter. Hancock Whitney Corp purchased a new position in shares of Medical Transcription Billing in the fourth quarter worth about $138,000. Finally, Geode Capital Management LLC increased its stake 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 purchasing an additional 7,160 shares in the last quarter. Institutional investors and hedge funds own 6.45% of the company’s stock.

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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