TruBridge (NASDAQ:TBRG) Price Target Raised to $17.00

TruBridge (NASDAQ:TBRG) had its target price upped by Stephens from $13.00 to $17.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts have also weighed in on TBRG. Royal Bank of Canada restated an “outperform” rating and issued a $14.00 price target on shares of TruBridge in a research note on Tuesday, September 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 price objective on shares of TruBridge in a report on Friday, October 4th. Finally, Barclays upped their target price 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 Up 3.3 %

TBRG stock opened at $16.54 on Wednesday. The firm’s fifty day moving average is $13.16 and its 200 day moving average is $11.56. The firm has a market cap of $246.94 million, a PE ratio of -4.04, a P/E/G ratio of 36.40 and a beta of 0.61. TruBridge has a one year low of $7.55 and a one 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.

Insider Buying and Selling

In other news, major shareholder Pinetree Capital Ltd. bought 3,997 shares of TruBridge stock in a transaction on Wednesday, October 2nd. The shares were bought at an average cost of $11.93 per share, with a total value of $47,684.21. Following the completion of the purchase, the insider now directly owns 603,997 shares of the company’s stock, valued at approximately $7,205,684.21. This trade represents a 0.67 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.60% of the stock is owned by company insiders.

Institutional Trading of TruBridge

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in TruBridge during the third quarter worth $26,000. Covestor Ltd acquired a new position in TruBridge in the third quarter valued at about $28,000. First Horizon Advisors Inc. purchased a new position in TruBridge during the third quarter worth about $33,000. Point72 DIFC Ltd acquired a new stake in shares of TruBridge during the second quarter valued at about $56,000. Finally, FMR LLC purchased a new stake in shares of TruBridge in the 3rd quarter valued at approximately $85,000. 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.