Zacks: Analysts Set $5.00 Target Price for Medical Transcription Billing Corp (MTBC)

Shares of Medical Transcription Billing Corp (NASDAQ:MTBC) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports.

Analysts have set a 12 month consensus target price of $5.00 for the company, according to Zacks. Zacks has also given Medical Transcription Billing an industry rank of 93 out of 265 based on the ratings given to its competitors.

Several analysts have weighed in on MTBC shares. Zacks Investment Research downgraded Medical Transcription Billing from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Chardan Capital boosted their price objective on Medical Transcription Billing from $2.25 to $2.75 and gave the company a “buy” rating in a research report on Tuesday, November 14th. Finally, ValuEngine downgraded Medical Transcription Billing from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd.

In related news, CEO Mahmud Ul Haq acquired 30,000 shares of the stock in a transaction on Friday, December 1st. The stock was purchased at an average price of $2.93 per share, for a total transaction of $87,900.00. Following the completion of the transaction, the chief executive officer now owns 5,017,070 shares of the company’s stock, valued at approximately $14,700,015.10. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Stephen Andrew Snyder sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $3.18, for a total value of $159,000.00. Following the completion of the sale, the president now owns 106,000 shares of the company’s stock, valued at approximately $337,080. The disclosure for this sale can be found here. Insiders own 53.70% of the company’s stock.

Shares of Medical Transcription Billing (MTBC) opened at $3.16 on Wednesday. The firm has a market capitalization of $36.44, a P/E ratio of -3.04 and a beta of 1.79. Medical Transcription Billing has a 12-month low of $0.29 and a 12-month high of $5.44. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.15 and a quick ratio of 1.15.

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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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