TruBridge (NASDAQ:TBRG) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of TruBridge (NASDAQ:TBRG) in a research report report published on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has a $14.00 price objective on the stock.

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

TruBridge Stock Performance

Shares of NASDAQ:TBRG opened at $12.28 on Tuesday. The business has a 50-day moving average of $11.73 and a two-hundred day moving average of $10.16. The firm has a market capitalization of $184.29 million, a PE ratio of -3.48, a P/E/G ratio of 2.79 and a beta of 0.63. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.77 and a quick ratio of 1.76. TruBridge has a 12 month low of $7.55 and a 12 month high of $17.28.

TruBridge (NASDAQ:TBRG) last posted its earnings results on Thursday, August 8th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.07). The business had revenue of $84.73 million for the quarter, compared to analyst estimates of $80.71 million. TruBridge had a positive return on equity of 6.57% and a negative net margin of 15.93%. As a group, research analysts forecast that TruBridge will post 0.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Pinetree Capital Ltd. acquired 55,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were bought at an average price of $10.51 per share, for a total transaction of $578,050.00. Following the completion of the purchase, the insider now directly owns 1,624,545 shares of the company’s stock, valued at approximately $17,073,967.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On TruBridge

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new stake in shares of TruBridge during the second quarter valued at about $56,000. Cubist Systematic Strategies LLC purchased a new position in TruBridge in the second quarter valued at about $740,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in TruBridge during the 2nd quarter valued at approximately $297,000. 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.