Medical Transcription Billing (MTBC) PT Set at $5.00 by HC Wainwright

Medical Transcription Billing (NASDAQ:MTBC) has been given a $5.00 price objective by analysts at HC Wainwright in a research report issued on Wednesday. The brokerage currently has a “buy” rating on the technology company’s stock. HC Wainwright’s price target suggests a potential upside of 42.86% from the company’s previous close.

Several other research firms have also recently weighed in on MTBC. ValuEngine upgraded shares of Medical Transcription Billing from a “sell” rating to a “hold” rating in a research report on Tuesday, February 20th. Summer Street restated a “buy” rating on shares of Medical Transcription Billing in a research report on Saturday, May 5th. Finally, Chardan Capital restated a “buy” rating and set a $2.75 price objective on shares of Medical Transcription Billing in a research report on Saturday, May 5th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $3.58.

Medical Transcription Billing opened at $3.50 on Wednesday, according to Marketbeat. Medical Transcription Billing has a 1 year low of $3.43 and a 1 year high of $3.43. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.06 and a current ratio of 2.06. The company has a market capitalization of $39.84 million, a price-to-earnings ratio of -26.92 and a beta of 1.73.

Medical Transcription Billing (NASDAQ:MTBC) last posted its earnings results on Tuesday, May 15th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.14. Medical Transcription Billing had a negative net margin of 8.72% and a positive return on equity of 0.52%. The business had revenue of $8.31 million for the quarter, compared to analysts’ expectations of $7.98 million. research analysts forecast that Medical Transcription Billing will post -0.3 EPS for the current fiscal year.

In other news, Chairman Mahmud Ul Haq sold 6,000 shares of the firm’s stock in a transaction on Monday, March 26th. The shares were sold at an average price of $25.36, for a total transaction of $152,160.00. Following the sale, the chairman now owns 3,000 shares in the company, valued at approximately $76,080. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Stephen Andrew Snyder sold 5,450 shares of the firm’s stock in a transaction on Monday, March 26th. The shares were sold at an average price of $25.36, for a total transaction of $138,212.00. Following the sale, the chief executive officer now owns 2,800 shares in the company, valued at approximately $71,008. The disclosure for this sale can be found here. Company insiders own 49.70% 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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