Brokerages predict that Medical Transcription Billing Corp (NASDAQ:MTBC) will report sales of $16.00 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Medical Transcription Billing’s earnings. The lowest sales estimate is $15.99 million and the highest is $16.00 million. Medical Transcription Billing reported sales of $8.29 million in the same quarter last year, which indicates a positive year-over-year growth rate of 93%. The business is scheduled to announce its next earnings report on Wednesday, March 6th.
According to Zacks, analysts expect that Medical Transcription Billing will report full-year sales of $49.29 million for the current financial year. For the next fiscal year, analysts forecast that the firm will report sales of $65.20 million, with estimates ranging from $63.00 million to $68.61 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Medical Transcription Billing.
Medical Transcription Billing (NASDAQ:MTBC) last issued its quarterly earnings data on Wednesday, November 7th. The technology company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). Medical Transcription Billing had a positive return on equity of 2.01% and a negative net margin of 2.73%. The firm had revenue of $17.05 million during the quarter, compared to analysts’ expectations of $16.66 million.
Separately, HC Wainwright set a $6.00 price objective on shares of Medical Transcription Billing and gave the stock a “buy” rating in a research report on Monday, August 13th. One research 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 a consensus price target of $3.92.
Shares of Medical Transcription Billing stock opened at $5.03 on Friday. Medical Transcription Billing has a 52-week low of $2.17 and a 52-week high of $5.65. The company has a market capitalization of $64.56 million, a PE ratio of -38.69 and a beta of 1.58.
In other Medical Transcription Billing news, CFO Bill Korn sold 9,664 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $5.52, for a total transaction of $53,345.28. Following the sale, the chief financial officer now owns 167,750 shares of the company’s stock, valued at approximately $925,980. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John N. Daly sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $4.70, for a total transaction of $47,000.00. Following the sale, the director now directly owns 115,000 shares in the company, valued at approximately $540,500. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,755 shares of company stock worth $177,945. 49.70% of the stock is owned by insiders.
A hedge fund recently bought a new stake in Medical Transcription Billing stock. Dimensional Fund Advisors LP bought a new position in shares of Medical Transcription Billing Corp (NASDAQ:MTBC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 27,909 shares of the technology company’s stock, valued at approximately $108,000. Dimensional Fund Advisors LP owned about 0.24% of Medical Transcription Billing at the end of the most recent quarter. 5.93% of the stock is owned by institutional investors.
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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