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

TruBridge (NASDAQ:TBRG) had its target price boosted by research analysts at Stephens from $13.00 to $17.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Stephens’ price target suggests a potential upside of 6.85% from the stock’s current price.

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

TruBridge Price Performance

TBRG opened at $15.91 on Wednesday. TruBridge has a 1 year low of $7.55 and a 1 year high of $16.80. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.78 and a current ratio of 1.80. The company’s 50 day simple moving average is $13.16 and its 200 day simple moving average is $11.56. The stock has a market capitalization of $237.54 million, a PE ratio of -3.89, a P/E/G ratio of 36.40 and a beta of 0.61.

Insider Buying and Selling

In related news, major shareholder Pinetree Capital Ltd. bought 3,997 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were purchased at an average cost of $11.93 per share, with a total value of $47,684.21. Following the completion of the transaction, the insider now directly owns 603,997 shares of the company’s stock, valued at approximately $7,205,684.21. This represents a 0.67 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TBRG. GAMMA Investing LLC acquired a new position in shares of TruBridge during the third quarter worth approximately $26,000. Covestor Ltd bought a new stake in TruBridge during the 3rd quarter valued at $28,000. First Horizon Advisors Inc. acquired a new position in TruBridge during the 3rd quarter worth $33,000. Point72 DIFC Ltd bought a new position in shares of TruBridge in the second quarter worth $56,000. Finally, FMR LLC acquired a new position in shares of TruBridge during the third quarter valued at $85,000. 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.