Zacks Investment Research Downgrades Medical Transcription Billing (MTBC) to Hold
Medical Transcription Billing (NASDAQ:MTBC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday.
According to Zacks, “Medical Transcription Billing, Corp. is a healthcare information technology company. It engages in providing integrated suite of proprietary web-based solutions, together with related business services, to healthcare providers practicing in ambulatory care settings. The Company offers revenue cycle, practice management services, patient scheduling, automated appointment reminders, e-prescribing, lab connectivity, and real-time insurance eligibility verification. Transcription Billing, Corp. is headquartered in Somerset, New Jersey. “
Other research analysts have also issued research reports about the company. ValuEngine lowered Medical Transcription Billing from a “hold” rating to a “sell” rating in a report on Monday, December 4th. Chardan Capital boosted their target price on Medical Transcription Billing from $2.25 to $2.75 and gave the company a “buy” rating in a report on Tuesday, November 14th.
Shares of Medical Transcription Billing (NASDAQ MTBC) traded up $0.06 during midday trading on Friday, reaching $2.93. The company’s stock had a trading volume of 174,548 shares, compared to its average volume of 232,975. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.15 and a current ratio of 1.15. Medical Transcription Billing has a one year low of $0.29 and a one year high of $5.44. The stock has a market capitalization of $33.09, a PE ratio of -2.79 and a beta of 1.79.
In other news, President Stephen Andrew Snyder sold 50,000 shares of the business’s stock in a transaction that occurred 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 owns 106,000 shares of the company’s stock, valued at $337,080. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mahmud Ul Haq bought 30,000 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was bought at an average cost of $2.93 per share, for a total transaction of $87,900.00. Following the acquisition, the chief executive officer now owns 5,017,070 shares of the company’s stock, valued at approximately $14,700,015.10. The disclosure for this purchase can be found here. Insiders own 53.70% of the company’s stock.
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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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