Medical Transcription Billing (MTBC) Lowered to Hold at Zacks Investment Research
Medical Transcription Billing (NASDAQ:MTBC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday.
According to Zacks, “Medical Transcription Billing, Corp. is a healthcare information technology company. It engages in providing integrated suite of proprietary web-based solutions, together with related business services, to healthcare providers practicing in ambulatory care settings. The Company offers revenue cycle, practice management services, patient scheduling, automated appointment reminders, e-prescribing, lab connectivity, and real-time insurance eligibility verification. Transcription Billing, Corp. is headquartered in Somerset, New Jersey. “
A number of other research firms have also recently weighed in on MTBC. ValuEngine cut Medical Transcription Billing from a “hold” rating to a “sell” rating in a report on Monday, December 4th. Chardan Capital upped their target price on Medical Transcription Billing from $2.25 to $2.75 and gave the company a “buy” rating in a research note on Tuesday, November 14th.
In related news, President Stephen Andrew Snyder sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $3.18, for a total value of $159,000.00. Following the sale, the president now owns 106,000 shares of the company’s stock, valued at approximately $337,080. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mahmud Ul Haq bought 30,000 shares of Medical Transcription Billing stock in a transaction that occurred on Friday, December 1st. The stock was bought at an average cost of $2.93 per share, for a total transaction of $87,900.00. Following the purchase, the chief executive officer now 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 currently owned by corporate insiders.
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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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