TruBridge (NASDAQ:TBRG) Rating Reiterated by Royal Bank of Canada

TruBridge (NASDAQ:TBRG)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank of Canada in a note issued to investors on Tuesday, Benzinga reports. They currently have a $14.00 price objective on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 12.63% from the company’s previous close.

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.00 target price on shares of TruBridge in a research report on Tuesday, August 20th.

TruBridge Trading Down 0.3 %

TruBridge stock traded down $0.04 during trading hours on Tuesday, hitting $12.43. 7,788 shares of the stock traded hands, compared to its average volume of 170,733. TruBridge has a one year low of $7.55 and a one year high of $17.28. The business’s 50-day moving average price is $11.61. The company has a current ratio of 1.77, a quick ratio of 1.76 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $186.54 million, a P/E ratio of -3.51, a PEG ratio of 2.79 and a beta of 0.63.

TruBridge (NASDAQ:TBRG) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.07). The firm had revenue of $84.73 million for the quarter, compared to the consensus estimate of $80.71 million. TruBridge had a negative net margin of 15.93% and a positive return on equity of 6.57%. On average, sell-side analysts expect that TruBridge will post 0.56 earnings per share for the current fiscal year.

Insider Transactions at TruBridge

In related news, major shareholder Pinetree Capital Ltd. acquired 55,000 shares of TruBridge stock in a transaction that occurred on Monday, July 1st. The stock was bought at an average price of $10.51 per share, with a total value of $578,050.00. Following the transaction, the insider now directly owns 1,624,545 shares in the company, valued at $17,073,967.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On TruBridge

A number of hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in TruBridge in the 2nd quarter worth about $297,000. Cubist Systematic Strategies LLC purchased a new stake in shares of TruBridge during the 2nd quarter valued at about $740,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of TruBridge during the 2nd quarter valued at about $56,000. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

TruBridge Company Profile

TruBridge, Inc provides healthcare solutions and services for community hospitals, clinics, and other healthcare systems in the United States and internationally. The company operates in three segments: Revenue Cycle Management (RCM), Electronic Health Record (HER), and Patient Engagement. It focuses on providing RCM solutions for care settings, regardless of primary healthcare information solutions provider along with business management, consulting, managed IT services, and analytics and business intelligence.