Zacks: Medical Transcription Billing, Corp. (MTBC) Given Average Recommendation of “Strong Buy” by Brokerages
Shares of Medical Transcription Billing, Corp. (NASDAQ:MTBC) have been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Brokers have set a one year consensus target price of $3.88 for the company, according to Zacks. Zacks has also given Medical Transcription Billing an industry rank of 107 out of 265 based on the ratings given to related companies.
Several brokerages have commented on MTBC. Zacks Investment Research raised Medical Transcription Billing from a “hold” rating to a “buy” rating and set a $1.50 price objective for the company in a research report on Wednesday, August 16th. ValuEngine lowered Medical Transcription Billing from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Chardan Capital raised 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.
In related news, President Stephen Andrew Snyder sold 50,000 shares of Medical Transcription Billing stock in a transaction dated Monday, November 6th. The stock was 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 directly owns 106,000 shares in the company, valued at approximately $337,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mahmud Ul Haq acquired 30,000 shares of Medical Transcription Billing stock in a transaction that occurred on Friday, December 1st. The stock was acquired at an average price of $2.93 per share, with a total value of $87,900.00. Following the completion of the acquisition, the chief executive officer now directly owns 5,017,070 shares in the company, valued at approximately $14,700,015.10. The disclosure for this purchase can be found here. 53.70% of the stock is owned by insiders.
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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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