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New Initiation: Medical Transcription Billing, Corp. (NASDAQ: MTBC)
SeeThruEquity Initiates Coverage on Medical Transcription Billing, Corp. (NASDAQ: MTBC) with a Price Target of $3.65
March 3, 2016
Based in Somerset, NJ, MTBC is a healthcare information technology company that provides a fully integrated suite of web-based solutions and related business services to ambulatory healthcare providers. MTBC went public on NASDAQ in July 2014, after several years of strong growth through both acquisitive and organic means as a private healthcare technology company. Through its flagship software-as-a-service (SAAS) platform Practice Pro, MTBC "brings big practice solutions" to over 750 small and medium sized medical practices, helping more than 1,700 providers grow and track sales, streamline operations, and use data to facilitate better business and clinical decision making. We see several catalysts ahead for MTBC as the company recently raised significant new investment capital through a non-convertible preferred stock offering, which should enable it to make strategic investments in growth, fund share buybacks and drive cash flow leverage in 2016 and beyond.
"MTBC has significant opportunity in making acquisitions with 1,500+ companies offering revenue cycle management to healthcare providers in the United States - none of which have more than a 5% share of the market - and more than 700 companies offering EHR technology solutions," stated Ajay Tandon, CEO of SeeThruEquity. "In our view, these attributes make for an attractive consolidation opportunity. Indeed, MTBC is led by a savvy, deeply experienced management team and Board of Directors, which has completed and integrated 13 acquisitions over the last five years. So far, these efforts have driven rapid top line growth, with revenue rising from $9.2mn in 2010 to $23.0mn in 2015. We expect continued growth for MTBC in 2016 and beyond," continued Ajay Tandon. "We are initiating coverage with a 12-month price target of $3.65 per share."
Click here for the entire press release: MTBC Press Release
Click here for the initiation report: MTBC Initiation Report
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SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. The company does not conduct any investment banking or commission based business. SeeThruEquity is approved to contribute its research to Thomson One Analytics (First Call), Capital IQ, FactSet, Zacks, and distribute its research to its database of opt-in investors. The company also contributes its estimates to Thomson Estimates, the leading estimates platform on Wall Street.
For more information visit www.seethruequity.com.
Contact:
Ajay Tandon
SeeThruEquity
info@seethruequity.com
DISCLOSURE
See www.seethruequity.com for important disclosures.
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