Medical Transcription Billing Corp (MTBC) Expected to Post Quarterly Sales of $16.05 Million
Wall Street brokerages expect that Medical Transcription Billing Corp (NASDAQ:MTBC) will announce $16.05 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Medical Transcription Billing’s earnings, with estimates ranging from $16.00 million to $16.09 million. Medical Transcription Billing reported sales of $8.29 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 93.6%. The business is scheduled to issue its next earnings results on Wednesday, March 6th.
According to Zacks, analysts expect that Medical Transcription Billing will report full year sales of $50.07 million for the current fiscal year, with estimates ranging from $50.00 million to $50.13 million. For the next financial year, analysts forecast that the firm will post sales of $64.64 million, with estimates ranging from $63.00 million to $66.93 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Medical Transcription Billing.
Medical Transcription Billing (NASDAQ:MTBC) last posted its quarterly earnings data on Wednesday, November 7th. The technology company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.02). Medical Transcription Billing had a negative return on equity of 8.26% and a negative net margin of 6.62%. The firm had revenue of $17.05 million during the quarter, compared to analysts’ expectations of $16.66 million.
Medical Transcription Billing stock traded up $0.10 during midday trading on Monday, reaching $4.93. The stock had a trading volume of 145,434 shares, compared to its average volume of 238,269. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.70 and a quick ratio of 1.65. Medical Transcription Billing has a 52-week low of $2.52 and a 52-week high of $5.65. The firm has a market capitalization of $57.14 million, a P/E ratio of -37.92 and a beta of 1.57.
In other news, CEO Stephen Andrew Snyder sold 27,005 shares of the firm’s stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $5.04, for a total transaction of $136,105.20. Following the transaction, the chief executive officer now directly owns 141,776 shares of the company’s stock, valued at $714,551.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Shruti H. Patel sold 12,291 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $4.61, for a total transaction of $56,661.51. The disclosure for this sale can be found here. Insiders sold a total of 52,760 shares of company stock worth $267,050 over the last three months. 49.70% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Virtu Financial LLC purchased a new position in shares of Medical Transcription Billing during the third quarter worth approximately $101,000. Macquarie Group Ltd. increased its position in shares of Medical Transcription Billing by 59.6% during the second quarter. Macquarie Group Ltd. now owns 100,401 shares of the technology company’s stock worth $389,000 after acquiring an additional 37,501 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Medical Transcription Billing during the second quarter worth approximately $108,000. 5.52% of the stock is currently owned by institutional investors and hedge funds.
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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