Stephens Reiterates “Equal Weight” Rating for TruBridge (NASDAQ:TBRG)

TruBridge (NASDAQ:TBRG)‘s stock had its “equal weight” rating reaffirmed by equities research analysts at Stephens in a report issued on Thursday,Benzinga reports. They currently have a $28.00 price objective on the stock. Stephens’ price objective would suggest a potential upside of 14.85% from the company’s current price.

Separately, Cantor Fitzgerald boosted their target price on TruBridge from $20.00 to $29.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th.

TruBridge Stock Down 0.7 %

NASDAQ TBRG opened at $24.38 on Thursday. TruBridge has a 1 year low of $7.61 and a 1 year high of $32.00. The stock has a market capitalization of $364.46 million, a PE ratio of -5.96, a PEG ratio of 5.38 and a beta of 0.64. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.80 and a quick ratio of 1.78. The business’s 50-day moving average is $27.44 and its 200 day moving average is $20.79.

Insiders Place Their Bets

In other news, major shareholder Pinetree Capital Ltd. purchased 74,981 shares of TruBridge stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average cost of $27.61 per share, with a total value of $2,070,225.41. Following the completion of the purchase, the insider now directly owns 693,981 shares in the company, valued at approximately $19,160,815.41. This trade represents a 12.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher L. Fowler sold 5,100 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $27.02, for a total value of $137,802.00. Following the completion of the transaction, the chief executive officer now owns 142,939 shares of the company’s stock, valued at approximately $3,862,211.78. This trade represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. Insiders purchased 116,728 shares of company stock worth $3,239,879 over the last three months. Company insiders own 10.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Federated Hermes Inc. grew its holdings in TruBridge by 3.1% in the fourth quarter. Federated Hermes Inc. now owns 468,758 shares of the company’s stock worth $9,244,000 after purchasing an additional 14,120 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of TruBridge by 12.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 348,941 shares of the company’s stock worth $6,881,000 after buying an additional 38,902 shares during the last quarter. Truffle Hound Capital LLC bought a new position in TruBridge during the 4th quarter valued at approximately $5,916,000. D. E. Shaw & Co. Inc. raised its stake in TruBridge by 8.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 217,539 shares of the company’s stock valued at $4,290,000 after buying an additional 16,821 shares during the last quarter. Finally, Susquehanna International Group LLP boosted its holdings in TruBridge by 343.6% in the fourth quarter. Susquehanna International Group LLP now owns 209,871 shares of the company’s stock worth $4,139,000 after acquiring an additional 162,560 shares in the last quarter. 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.