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

TruBridge (NASDAQ:TBRG) had its price target lifted by Barclays from $10.00 to $14.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential downside of 10.43% from the stock’s current price.

Several other equities research analysts have also weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $14.00 price objective on shares of TruBridge in a research note on Tuesday, September 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 price target on shares of TruBridge in a report on Friday, October 4th.

TruBridge Stock Up 9.2 %

TBRG stock opened at $15.63 on Monday. The firm has a market cap of $233.82 million, a price-to-earnings ratio of -3.82, a PEG ratio of 3.11 and a beta of 0.61. TruBridge has a 1-year low of $7.55 and a 1-year high of $15.88. The firm has a fifty day moving average price of $12.63 and a two-hundred day moving average price of $11.22. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.77 and a quick ratio of 1.76.

Insider Activity at TruBridge

In other news, major shareholder Pinetree Capital Ltd. purchased 3,997 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were bought at an average price of $11.93 per share, for a total transaction of $47,684.21. Following the completion of the purchase, the insider now owns 603,997 shares of the company’s stock, valued at $7,205,684.21. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TruBridge

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TBRG. GAMMA Investing LLC bought a new stake in TruBridge during the 3rd quarter valued at $26,000. Covestor Ltd acquired a new position in shares of TruBridge during the third quarter valued at $28,000. First Horizon Advisors Inc. bought a new stake in shares of TruBridge during the third quarter valued at about $33,000. Point72 DIFC Ltd acquired a new stake in TruBridge in the second quarter worth about $56,000. Finally, Leavell Investment Management Inc. bought a new position in TruBridge in the 3rd quarter valued at about $203,000. 88.64% of the stock is owned by 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.