Zacks: Analysts Anticipate Medical Transcription Billing Corp (MTBC) Will Post Quarterly Sales of $16.66 Million
Wall Street analysts expect Medical Transcription Billing Corp (NASDAQ:MTBC) to report $16.66 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Medical Transcription Billing’s earnings. The lowest sales estimate is $16.31 million and the highest is $17.00 million. Medical Transcription Billing reported sales of $7.51 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 121.8%. The firm is scheduled to issue its next quarterly earnings results on Monday, November 5th.
According to Zacks, analysts expect that Medical Transcription Billing will report full year sales of $49.43 million for the current financial year, with estimates ranging from $49.00 million to $50.00 million. For the next 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 calculations are an average based on a survey of analysts that follow Medical Transcription Billing.
Medical Transcription Billing (NASDAQ:MTBC) last announced its earnings results on Wednesday, August 8th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.09). Medical Transcription Billing had a negative net margin of 2.73% and a positive return on equity of 2.01%. The business had revenue of $8.68 million for the quarter, compared to analyst estimates of $8.39 million.
Shares of NASDAQ MTBC traded down $0.04 during trading on Wednesday, hitting $5.07. The company had a trading volume of 45,154 shares, compared to its average volume of 125,024. Medical Transcription Billing has a fifty-two week low of $2.11 and a fifty-two week high of $5.49. The firm has a market cap of $60.53 million, a price-to-earnings ratio of -39.00 and a beta of 1.71.
In related news, CFO Bill Korn sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $5.01, for a total transaction of $25,050.00. Following the transaction, the chief financial officer now directly owns 152,800 shares in the company, valued at $765,528. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John N. Daly sold 10,000 shares of the business’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $4.70, for a total transaction of $47,000.00. Following the transaction, the director now owns 115,000 shares in the company, valued at $540,500. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,291 shares of company stock worth $128,712. Company insiders own 49.70% of the company’s stock.
A hedge fund recently raised its stake in Medical Transcription Billing stock. Macquarie Group Ltd. increased its holdings in shares of Medical Transcription Billing Corp (NASDAQ:MTBC) by 59.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,401 shares of the technology company’s stock after acquiring an additional 37,501 shares during the quarter. Macquarie Group Ltd. owned about 0.85% of Medical Transcription Billing worth $389,000 at the end of the most recent reporting period. 5.84% of the stock is owned by hedge funds and other institutional investors.
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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