Stephens Forecasts Strong Price Appreciation for TruBridge (NASDAQ:TBRG) Stock

TruBridge (NASDAQ:TBRG) had its price objective upped by Stephens from $13.00 to $17.00 in a research report released on Wednesday morning,Benzinga reports. Stephens currently has an equal weight rating on the stock.

A number of other research analysts have also issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $14.00 target price on shares of TruBridge in a report on Tuesday, September 17th. Barclays lifted their price objective on TruBridge from $10.00 to $14.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $13.00 target price on shares of TruBridge in a research note on Friday, October 4th.

TruBridge Price Performance

TruBridge stock opened at $16.54 on Wednesday. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 1.00. TruBridge has a 52-week low of $7.55 and a 52-week high of $16.80. The firm has a market cap of $246.94 million, a PE ratio of -4.04, a price-to-earnings-growth ratio of 36.40 and a beta of 0.61. The company’s 50 day moving average is $13.16 and its two-hundred day moving average is $11.56.

Insider Buying and Selling at TruBridge

In other TruBridge news, major shareholder Pinetree Capital Ltd. purchased 3,997 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average cost of $11.93 per share, with a total value of $47,684.21. Following the completion of the acquisition, the insider now directly owns 603,997 shares of the company’s stock, valued at $7,205,684.21. This trade represents a 0.67 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.60% of the stock is owned by insiders.

Institutional Trading of TruBridge

Several institutional investors have recently modified their holdings of TBRG. Point72 Asia Singapore Pte. Ltd. acquired a new stake in TruBridge during the 2nd quarter worth $297,000. Cubist Systematic Strategies LLC acquired a new position in TruBridge in the second quarter valued at $740,000. Point72 DIFC Ltd purchased a new position in shares of TruBridge during the second quarter worth about $56,000. GAMMA Investing LLC purchased a new position in shares of TruBridge during the third quarter worth about $26,000. Finally, Williams & Novak LLC acquired a new stake in shares of TruBridge during the third quarter worth about $234,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

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.