Brokerages expect Medical Transcription Billing Corp (NASDAQ:MTBC) to post sales of $16.06 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Medical Transcription Billing’s earnings. The lowest sales estimate is $15.91 million and the highest is $16.20 million. Medical Transcription Billing reported sales of $17.05 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 5.8%. The firm is expected to report its next quarterly earnings results on Wednesday, November 6th.
According to Zacks, analysts expect that Medical Transcription Billing will report full year sales of $63.85 million for the current fiscal year, with estimates ranging from $63.70 million to $64.00 million. For the next year, analysts forecast that the business will report sales of $70.08 million, with estimates ranging from $69.15 million to $71.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Medical Transcription Billing.
Medical Transcription Billing (NASDAQ:MTBC) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.19) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.19). Medical Transcription Billing had a negative return on equity of 17.50% and a negative net margin of 9.21%. The firm had revenue of $16.75 million for the quarter, compared to analysts’ expectations of $15.33 million.
NASDAQ:MTBC traded down $0.01 during trading hours on Monday, reaching $4.62. The company had a trading volume of 25,700 shares, compared to its average volume of 56,090. The stock has a 50-day moving average of $4.79 and a two-hundred day moving average of $4.76. Medical Transcription Billing has a one year low of $3.25 and a one year high of $5.65. The firm has a market capitalization of $56.66 million, a PE ratio of -7.83 and a beta of 1.62. The company has a quick ratio of 2.01, a current ratio of 2.05 and a debt-to-equity ratio of 0.09.
In other Medical Transcription Billing news, Director John N. Daly sold 6,600 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $4.88, for a total value of $32,208.00. Following the transaction, the director now owns 119,750 shares of the company’s stock, valued at $584,380. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Mahmud Ul Haq sold 179,000 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $5.00, for a total value of $895,000.00. Following the completion of the transaction, the insider now directly owns 4,902,070 shares in the company, valued at approximately $24,510,350. The disclosure for this sale can be found here. Insiders sold 196,600 shares of company stock worth $978,318 over the last quarter. Company insiders own 50.50% of the company’s stock.
A hedge fund recently raised its stake in Medical Transcription Billing stock. Geode Capital Management LLC grew its holdings in Medical Transcription Billing Corp (NASDAQ:MTBC) by 23.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 37,854 shares of the technology company’s stock after purchasing an additional 7,160 shares during the quarter. Geode Capital Management LLC owned about 0.32% of Medical Transcription Billing worth $143,000 as of its most recent filing with the SEC. 12.53% of the stock is 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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