$16.66 Million in Sales Expected for Medical Transcription Billing Corp (MTBC) This Quarter

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Equities research analysts expect that Medical Transcription Billing Corp (NASDAQ:MTBC) will announce sales of $16.66 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Medical Transcription Billing’s earnings, with estimates ranging from $16.31 million to $17.00 million. Medical Transcription Billing reported sales of $7.51 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 121.8%. The firm is expected to report its next quarterly earnings results on Monday, November 5th.

On average, analysts expect that Medical Transcription Billing will report full year sales of $49.43 million for the current fiscal year, with estimates ranging from $49.00 million to $50.00 million. For the next fiscal year, analysts anticipate that the business will post sales of $65.20 million, with estimates ranging from $63.00 million to $68.61 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Medical Transcription Billing.

Medical Transcription Billing (NASDAQ:MTBC) last issued its quarterly earnings data on Wednesday, August 8th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.09). Medical Transcription Billing had a positive return on equity of 2.01% and a negative net margin of 2.73%. The company had revenue of $8.68 million for the quarter, compared to the consensus estimate of $8.39 million.

Separately, HC Wainwright set a $6.00 price target on Medical Transcription Billing and gave the company a “buy” rating in a research report on Monday, August 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $3.92.

In other Medical Transcription Billing news, General Counsel Shruti H. Patel sold 12,291 shares of the firm’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 hyperlink. Also, Director John N. Daly sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $4.70, for a total value of $47,000.00. Following the sale, the director now owns 115,000 shares in the company, valued at approximately $540,500. The disclosure for this sale can be found here. Insiders have sold 27,291 shares of company stock worth $128,712 in the last 90 days. Company insiders own 49.70% of the company’s stock.

An institutional investor recently raised its position in Medical Transcription Billing stock. Macquarie Group Ltd. grew its stake in shares of Medical Transcription Billing Corp (NASDAQ:MTBC) by 59.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,401 shares of the technology company’s stock after buying an additional 37,501 shares during the quarter. Macquarie Group Ltd. owned 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 hedge funds and other institutional investors.

Shares of MTBC stock traded down $0.04 on Wednesday, reaching $5.07. The company’s stock had a trading volume of 45,154 shares, compared to its average volume of 125,024. Medical Transcription Billing has a 12-month low of $2.11 and a 12-month high of $5.49. The company has a market capitalization of $60.53 million, a PE ratio of -39.00 and a beta of 1.71.

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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