Cantor Fitzgerald Issues Positive Forecast for TruBridge (NASDAQ:TBRG) Stock Price

TruBridge (NASDAQ:TBRG) had its target price raised by Cantor Fitzgerald from $20.00 to $29.00 in a report published on Tuesday morning,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

TBRG has been the subject of several other research reports. Stephens increased their price objective on TruBridge from $13.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Barclays increased their price objective on TruBridge from $10.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th.

TruBridge Trading Down 3.8 %

NASDAQ:TBRG opened at $27.42 on Tuesday. The stock has a fifty day moving average price of $25.45 and a two-hundred day moving average price of $18.41. The stock has a market capitalization of $409.24 million, a price-to-earnings ratio of -6.70, a PEG ratio of 5.38 and a beta of 0.71. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.78 and a current ratio of 1.80. TruBridge has a 1 year low of $7.61 and a 1 year high of $32.00.

Insider Activity at TruBridge

In other TruBridge news, major shareholder Pinetree Capital Ltd. purchased 74,981 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were purchased at an average cost of $27.61 per share, with a total value of $2,070,225.41. Following the purchase, the insider now owns 693,981 shares in the company, valued at approximately $19,160,815.41. This represents a 12.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have purchased a total of 116,728 shares of company stock valued at $3,239,879 over the last quarter. Insiders own 3.60% of the company’s stock.

Institutional Trading of TruBridge

Hedge funds have recently added to or reduced their stakes in the business. Leavell Investment Management Inc. acquired a new position in shares of TruBridge in the 3rd quarter valued at about $203,000. Covestor Ltd acquired a new position in shares of TruBridge in the 3rd quarter valued at about $28,000. GSA Capital Partners LLP acquired a new position in shares of TruBridge in the 3rd quarter valued at about $389,000. Oppenheimer Asset Management Inc. acquired a new position in shares of TruBridge in the 3rd quarter valued at about $309,000. Finally, First Horizon Advisors Inc. acquired a new position in shares of TruBridge in the 3rd quarter valued at about $33,000. 88.64% of the stock is owned by institutional investors and hedge funds.

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.