TruBridge (NASDAQ:TBRG) Stock Price Expected to Rise, Stephens Analyst Says

TruBridge (NASDAQ:TBRG) had its price objective raised by research analysts at Stephens from $23.00 to $28.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Stephens’ price target suggests a potential downside of 1.72% from the stock’s current price.

Other analysts also recently issued research reports about the company. Cantor Fitzgerald raised their price objective on TruBridge from $20.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday. Barclays raised their price objective on TruBridge from $10.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th.

TruBridge Stock Down 3.2 %

NASDAQ:TBRG opened at $28.49 on Tuesday. The firm has a market capitalization of $425.21 million, a P/E ratio of -6.97, a P/E/G ratio of 5.38 and a beta of 0.71. TruBridge has a 12-month low of $7.61 and a 12-month high of $32.00. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 1.00. The stock’s fifty day simple moving average is $25.45 and its 200-day simple moving average is $18.41.

Insider Buying and Selling at TruBridge

In other news, major shareholder Pinetree Capital Ltd. purchased 6,795 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $28.16 per share, with a total value of $191,347.20. Following the purchase, the insider now directly owns 729,176 shares of the company’s stock, valued at $20,533,596.16. This trade represents a 0.94 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought 116,728 shares of company stock valued at $3,239,879 in the last 90 days. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of TruBridge

Several hedge funds and other institutional investors have recently modified their holdings of the company. Covestor Ltd raised its stake in shares of TruBridge by 20.5% in the 4th quarter. Covestor Ltd now owns 2,819 shares of the company’s stock valued at $56,000 after purchasing an additional 479 shares during the period. Cubist Systematic Strategies LLC raised its stake in shares of TruBridge by 2.0% in the 4th quarter. Cubist Systematic Strategies LLC now owns 26,202 shares of the company’s stock valued at $517,000 after purchasing an additional 514 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of TruBridge by 47.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,170 shares of the company’s stock valued at $43,000 after purchasing an additional 699 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of TruBridge by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,879 shares of the company’s stock valued at $1,457,000 after acquiring an additional 716 shares during the last quarter. Finally, Trexquant Investment LP increased its position in shares of TruBridge by 14.4% in the fourth quarter. Trexquant Investment LP now owns 16,760 shares of the company’s stock valued at $331,000 after acquiring an additional 2,112 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

About TruBridge

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.