Insider Selling: Medical Transcription Billing Corp (MTBC) General Counsel Sells 12,291 Shares of Stock

Medical Transcription Billing Corp (NASDAQ:MTBC) General Counsel Shruti H. Patel sold 12,291 shares of the company’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $4.61, for a total transaction of $56,661.51. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

MTBC stock traded down $0.10 during trading on Wednesday, hitting $4.65. The company had a trading volume of 77,400 shares, compared to its average volume of 283,327. The company has a market capitalization of $53.90 million, a P/E ratio of -35.85 and a beta of 1.74. Medical Transcription Billing Corp has a fifty-two week low of $1.39 and a fifty-two week high of $5.44.

Medical Transcription Billing (NASDAQ:MTBC) last posted its quarterly earnings data on Wednesday, August 8th. The technology company reported ($0.09) earnings per share for the quarter, hitting the consensus estimate of ($0.09). The business had revenue of $8.68 million during the quarter, compared to the consensus estimate of $8.39 million. Medical Transcription Billing had a negative net margin of 2.73% and a positive return on equity of 2.01%. sell-side analysts expect that Medical Transcription Billing Corp will post -0.5 EPS for the current fiscal year.

Separately, HC Wainwright set a $6.00 price objective on shares of Medical Transcription Billing and gave the stock 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 company presently has a consensus rating of “Buy” and an average price target of $3.92.

An institutional investor recently raised its position in Medical Transcription Billing stock. Macquarie Group Ltd. increased its stake in Medical Transcription Billing Corp (NASDAQ:MTBC) by 59.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 quarter. 5.84% of the stock is owned by institutional investors and hedge funds.

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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