Medical Transcription Billing (MTBC) Trading Up 6.5%
Medical Transcription Billing Corp (NASDAQ:MTBC) was up 6.5% during mid-day trading on Thursday . The stock traded as high as $3.69 and last traded at $3.59. Approximately 859,949 shares traded hands during trading, an increase of 105% from the average daily volume of 419,132 shares. The stock had previously closed at $3.37.
Several research firms recently commented on MTBC. ValuEngine downgraded shares of Medical Transcription Billing from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Zacks Investment Research downgraded shares of Medical Transcription Billing from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, Chardan Capital raised their price objective on shares of Medical Transcription Billing from $2.25 to $2.75 and gave the stock a “buy” rating in a report on Tuesday, November 14th.
The firm has a market cap of $38.86, a price-to-earnings ratio of -3.71 and a beta of 1.79. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.15 and a quick ratio of 1.15.
In related news, President Stephen Andrew Snyder sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $3.18, for a total value of $159,000.00. Following the completion of the transaction, the president now directly owns 106,000 shares of the company’s stock, valued at approximately $337,080. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mahmud Ul Haq acquired 30,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was acquired at an average cost of $2.93 per share, with a total value of $87,900.00. Following the completion of the acquisition, 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 company insiders.
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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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