Medical Transcription Billing Corp (MTBC) Receives Consensus Recommendation of “Strong Buy” from Analysts

Shares of Medical Transcription Billing Corp (NASDAQ:MTBC) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports.

Brokerages have set a 12 month consensus target price of $5.00 for the company, according to Zacks. Zacks has also assigned Medical Transcription Billing an industry rank of 93 out of 265 based on the ratings given to its competitors.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised Medical Transcription Billing from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. ValuEngine lowered Medical Transcription Billing from a “hold” rating to a “sell” rating in a research note on Monday, December 4th. Finally, Chardan Capital raised their price target on Medical Transcription Billing from $2.25 to $2.75 and gave the stock a “buy” rating in a research note on Tuesday, November 14th.

Medical Transcription Billing (MTBC) opened at $3.16 on Wednesday. Medical Transcription Billing has a one year low of $0.29 and a one year high of $5.44. The company has a market capitalization of $36.44, a P/E ratio of -3.04 and a beta of 1.79. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.15 and a current ratio of 1.15.

In other news, President Stephen Andrew Snyder sold 50,000 shares of Medical Transcription Billing stock in a transaction 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 transaction, the president now directly owns 106,000 shares in the company, valued at approximately $337,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mahmud Ul Haq purchased 30,000 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was bought at an average price of $2.93 per share, for a total transaction 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. Company insiders own 53.70% of the company’s stock.

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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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