$16.05 Million in Sales Expected for Medical Transcription Billing Corp (MTBC) This Quarter

Wall Street brokerages expect that Medical Transcription Billing Corp (NASDAQ:MTBC) will announce $16.05 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Medical Transcription Billing’s earnings, with estimates ranging from $16.00 million to $16.09 million. Medical Transcription Billing reported sales of $8.29 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 93.6%. The business is scheduled to issue its next earnings results on Wednesday, March 6th.

According to Zacks, analysts expect that Medical Transcription Billing will report full year sales of $50.07 million for the current fiscal year, with estimates ranging from $50.00 million to $50.13 million. For the next financial year, analysts forecast that the firm will post sales of $64.64 million, with estimates ranging from $63.00 million to $66.93 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Medical Transcription Billing.

Medical Transcription Billing (NASDAQ:MTBC) last posted its earnings results on Wednesday, November 7th. The technology company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). The company had revenue of $17.05 million for the quarter, compared to analyst estimates of $16.66 million. Medical Transcription Billing had a negative return on equity of 8.26% and a negative net margin of 6.62%.

Separately, HC Wainwright set a $6.00 target price on shares of Medical Transcription Billing and gave the company a “buy” rating in a report on Thursday, November 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $3.92.

In related news, CEO Stephen Andrew Snyder sold 27,005 shares of the stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $5.04, for a total transaction of $136,105.20. Following the completion of the transaction, the chief executive officer now owns 141,776 shares in the company, valued at $714,551.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Bill Korn sold 9,664 shares of the stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $5.52, for a total transaction of $53,345.28. Following the transaction, the chief financial officer now owns 167,750 shares of the company’s stock, valued at approximately $925,980. The disclosure for this sale can be found here. Insiders have sold a total of 52,760 shares of company stock valued at $267,050 in the last 90 days. 49.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in Medical Transcription Billing in the third quarter valued at approximately $101,000. Dimensional Fund Advisors LP bought a new position in Medical Transcription Billing during the second quarter valued at approximately $108,000. Finally, Macquarie Group Ltd. grew its position in Medical Transcription Billing by 59.6% during the second quarter. Macquarie Group Ltd. now owns 100,401 shares of the technology company’s stock valued at $389,000 after acquiring an additional 37,501 shares during the last quarter. 6.09% of the stock is currently owned by institutional investors and hedge funds.

Shares of Medical Transcription Billing stock opened at $4.97 on Monday. Medical Transcription Billing has a twelve month low of $2.52 and a twelve month high of $5.65. The company has a quick ratio of 1.65, a current ratio of 1.70 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $58.80 million, a price-to-earnings ratio of -38.23 and a beta of 1.58.

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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