Geode Capital Management LLC Acquires New Stake in TruBridge, Inc. (NASDAQ:TBRG)

Geode Capital Management LLC bought a new position in TruBridge, Inc. (NASDAQ:TBRG) during the third quarter, Holdings Channel.com reports. The institutional investor bought 145,965 shares of the company’s stock, valued at approximately $1,747,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. GAMMA Investing LLC purchased a new position in shares of TruBridge during the third quarter worth about $26,000. Covestor Ltd purchased a new position in TruBridge in the 3rd quarter worth approximately $28,000. First Horizon Advisors Inc. bought a new position in shares of TruBridge in the 3rd quarter worth $33,000. Point72 DIFC Ltd bought a new stake in shares of TruBridge during the 2nd quarter worth $56,000. Finally, FMR LLC purchased a new position in shares of TruBridge in the 3rd quarter worth about $85,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Insider Activity

In related news, Director Mark V. Anquillare purchased 2,500 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of $16.81 per share, with a total value of $42,025.00. Following the transaction, the director now directly owns 17,178 shares in the company, valued at $288,762.18. This trade represents a 17.03 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.60% of the company’s stock.

TruBridge Trading Up 3.9 %

TBRG opened at $21.50 on Thursday. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 1.00. TruBridge, Inc. has a 52 week low of $7.55 and a 52 week high of $21.63. The stock has a market cap of $320.89 million, a PE ratio of -5.26, a PEG ratio of 70.25 and a beta of 0.67. The business has a 50 day moving average of $17.36 and a 200-day moving average of $13.75.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.00 price objective on shares of TruBridge in a research note on Friday, October 4th. Barclays upped their target price on TruBridge from $10.00 to $14.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $14.00 price target on shares of TruBridge in a report on Tuesday, September 17th. Finally, Stephens upped their price objective on shares of TruBridge from $13.00 to $17.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th.

TruBridge Profile

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.