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

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

Other equities analysts have also recently issued research reports about the stock. Barclays boosted their price objective on shares of TruBridge from $10.00 to $14.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $14.00 price target on shares of TruBridge in a report on Tuesday, September 17th. Finally, 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 Price Performance

TBRG opened at $16.52 on Wednesday. The company has a market capitalization of $246.56 million, a price-to-earnings ratio of -4.04, a PEG ratio of 7.46 and a beta of 0.61. 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 firm has a 50-day moving average price of $13.08 and a 200-day moving average price of $11.53. TruBridge has a twelve month low of $7.55 and a twelve month high of $16.62.

Insider Activity

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 stock was acquired at an average price of $11.93 per share, with a total value of $47,684.21. Following 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TruBridge

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of TruBridge in the 3rd quarter worth about $5,934,000. CacheTech Inc. bought a new position in shares of TruBridge in the 3rd quarter worth about $2,875,000. Invenomic Capital Management LP bought a new position in shares of TruBridge in the 3rd quarter worth about $2,364,000. Geode Capital Management LLC bought a new position in shares of TruBridge in the 3rd quarter worth about $1,747,000. Finally, Rice Hall James & Associates LLC bought a new position in shares of TruBridge in the 3rd quarter worth about $1,143,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

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.