Stephens Boosts TruBridge (NASDAQ:TBRG) Price Target to $28.00

TruBridge (NASDAQ:TBRG) had its price objective upped by equities research analysts at Stephens from $23.00 to $28.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Stephens’ price target suggests a potential downside of 7.18% from the company’s current price.

Several other brokerages also recently weighed in on TBRG. Cantor Fitzgerald upped their target price on TruBridge from $20.00 to $29.00 and gave the stock an “overweight” rating in a research report on Tuesday. Barclays upped their price target on TruBridge from $10.00 to $14.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th.

TruBridge Stock Up 10.2 %

Shares of NASDAQ:TBRG traded up $2.80 during midday trading on Tuesday, hitting $30.17. 174,941 shares of the company’s stock traded hands, compared to its average volume of 126,767. The firm’s fifty day moving average price is $24.92 and its two-hundred day moving average price is $18.11. 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 twelve month low of $7.61 and a twelve month high of $31.69. The company has a market cap of $450.21 million, a PE ratio of -7.39, a P/E/G ratio of 5.38 and a beta of 0.71.

Insider Buying and Selling

In related news, major shareholder Pinetree Capital Ltd. purchased 34,952 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was acquired at an average price of $27.99 per share, with a total value of $978,306.48. Following the completion of the transaction, the insider now owns 768,250 shares of the company’s stock, valued at $21,503,317.50. This represents a 4.77 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have acquired 116,728 shares of company stock worth $3,239,879. 3.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TBRG. Leavell Investment Management Inc. acquired a new stake in shares of TruBridge in the 3rd quarter valued at about $203,000. Covestor Ltd bought a new stake in TruBridge in the third quarter valued at about $28,000. GSA Capital Partners LLP acquired a new stake in TruBridge during the third quarter valued at approximately $389,000. Oppenheimer Asset Management Inc. bought a new position in TruBridge during the 3rd quarter worth approximately $309,000. Finally, First Horizon Advisors Inc. acquired a new position in shares of TruBridge in the 3rd quarter worth approximately $33,000. 88.64% of the stock is currently owned by 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.