Medical Transcription Billing (MTBC) PT Set at $6.00 by HC Wainwright

Medical Transcription Billing (NASDAQ:MTBC) received a $6.00 price target from HC Wainwright in a report issued on Thursday. The firm currently has a “buy” rating on the technology company’s stock. HC Wainwright’s price target would suggest a potential upside of 19.28% from the company’s current price.

MTBC stock traded down $0.08 during midday trading on Thursday, hitting $5.03. 79,108 shares of the company traded hands, compared to its average volume of 91,592. Medical Transcription Billing has a twelve month low of $2.17 and a twelve month high of $5.65. The company has a market cap of $61.96 million, a PE ratio of -38.69 and a beta of 1.58.

Medical Transcription Billing (NASDAQ:MTBC) last announced its quarterly earnings results on Wednesday, November 7th. The technology company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). Medical Transcription Billing had a negative net margin of 6.62% and a negative return on equity of 8.61%. The company had revenue of $17.05 million for the quarter, compared to analyst estimates of $16.66 million. On average, sell-side analysts expect that Medical Transcription Billing will post -0.5 earnings per share for the current fiscal year.

In other news, Director John N. Daly sold 10,000 shares of the firm’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $4.70, for a total value of $47,000.00. Following the sale, the director now owns 115,000 shares in the company, valued at $540,500. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Shruti H. Patel sold 12,291 shares of the firm’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $4.61, for a total transaction of $56,661.51. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,755 shares of company stock worth $177,945. Corporate insiders own 49.70% of the company’s stock.

A hedge fund recently raised its stake in Medical Transcription Billing stock. Macquarie Group Ltd. increased its position in Medical Transcription Billing Corp (NASDAQ:MTBC) by 59.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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 approximately 0.85% of Medical Transcription Billing worth $389,000 at the end of the most recent quarter. Institutional investors and hedge funds own 5.93% 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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