Medical Transcription Billing (MTBC) Reaches New 1-Year High at $5.54

Medical Transcription Billing Corp (NASDAQ:MTBC)’s share price reached a new 52-week high on Monday . The stock traded as high as $5.54 and last traded at $5.39, with a volume of 2317 shares trading hands. The stock had previously closed at $5.14.

Separately, HC Wainwright set a $6.00 price target on Medical Transcription Billing and gave the company a “buy” rating in a report on Monday, August 13th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $3.92.

The firm has a market cap of $60.89 million, a price-to-earnings ratio of -39.96 and a beta of 1.58.

Medical Transcription Billing (NASDAQ:MTBC) last released its quarterly earnings results on Wednesday, August 8th. The technology company reported ($0.09) earnings per share for the quarter, meeting the consensus estimate of ($0.09). The business had revenue of $8.68 million during the quarter, compared to analysts’ expectations of $8.39 million. Medical Transcription Billing had a positive return on equity of 2.01% and a negative net margin of 2.73%. As a group, research analysts anticipate that Medical Transcription Billing Corp will post -0.5 earnings per share for the current year.

In other news, Director John N. Daly sold 10,000 shares of Medical Transcription Billing stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $4.70, for a total value of $47,000.00. Following the completion of the transaction, the director now owns 115,000 shares in the company, valued at approximately $540,500. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Shruti H. Patel sold 12,291 shares of Medical Transcription Billing stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $4.61, for a total value of $56,661.51. The disclosure for this sale can be found here. 49.70% of the stock is currently owned by insiders.

An institutional investor recently raised its position in Medical Transcription Billing stock. Macquarie Group Ltd. lifted its stake in Medical Transcription Billing Corp (NASDAQ:MTBC) by 59.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 100,401 shares of the technology company’s stock after purchasing an additional 37,501 shares during the quarter. Macquarie Group Ltd. owned about 0.85% of Medical Transcription Billing worth $389,000 at the end of the most recent reporting period. Institutional investors own 5.93% of the company’s stock.

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Medical Transcription Billing Company Profile (NASDAQ:MTBC)

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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