Medical Transcription Billing, Corp. (NASDAQ:MTBC) shares gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $1.42, but opened at $1.49. Medical Transcription Billing, Corp. shares last traded at $1.68, with a volume of 3,947,583 shares.
The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.15. Medical Transcription Billing, Corp. had a negative return on equity of 67.17% and a negative net margin of 32.88%. The firm had revenue of $7.79 million during the quarter.
Several research firms recently weighed in on MTBC. ValuEngine downgraded Medical Transcription Billing, Corp. from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Zacks Investment Research raised Medical Transcription Billing, Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Chardan Capital raised their price objective on Medical Transcription Billing, Corp. from $1.85 to $2.25 and gave the company a “buy” rating in a research note on Monday, May 15th.
The stock’s market capitalization is $17.09 million. The firm’s 50-day moving average is $1.40 and its 200-day moving average is $1.15.
Medical Transcription Billing, Corp. 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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