Mark Anquillare, a director at TruBridge, Inc. (NASDAQ:TBRG), recently acquired 2,500 shares of the company's common stock. The shares were purchased at a price of $16.81 each, amounting to a total transaction value of $42,025. Following this acquisition, Anquillare holds a total of 17,178 shares in the company. This purchase reflects Anquillare's continued investment in TruBridge, a firm known for its computer programming services.
In other recent news, TruBridge Inc's third-quarter earnings exceeded expectations with over $20 million in bookings for the fourth consecutive quarter. The company's revenue was slightly above consensus, contributing to significant earnings growth. Analysts from Stephens and RBC Capital Markets have responded to this strong performance by raising their price targets on TruBridge to $17 and $16 respectively.
TruBridge's updated fiscal year 2024 guidance suggests a return to organic revenue growth and a 200 basis point year-over-year margin expansion. The company's outlook for fiscal year 2025 includes mid- to high-single digit revenue growth and a target of 20% EBITDA margins, which is more optimistic than consensus expectations.
On the other hand, Deutsche Bank (ETR:DBKGn) has lowered its price target from $12 to $11, with TruBridge's revised total revenue forecast now standing at a range of $330 million to $340 million. Despite a year-over-year decline of 3.1% in the second quarter, the company reaffirmed its full-year adjusted EBITDA to be within the range of $45 million to $50 million.
TruBridge has also made significant amendments to its corporate bylaws, including changes to proxy solicitation rules and definitions related to stockholder engagement. These changes underscore the company's commitment to maintaining a clear and effective governance structure. These are the recent developments in TruBridge's business operations and financial performance.
InvestingPro Insights
Mark Anquillare's recent purchase of TruBridge, Inc. (NASDAQ:TBRG) shares aligns with several positive indicators highlighted by InvestingPro data. The company's stock has shown strong performance, with a 28.52% price return over the last month and a 64.74% return over the past six months. This upward trend is further supported by the fact that TBRG is trading near its 52-week high, with its current price at 97.93% of that peak.
InvestingPro Tips suggest that net income is expected to grow this year, and analysts predict the company will be profitable in the current fiscal year. This optimistic outlook is reinforced by the fact that four analysts have revised their earnings upwards for the upcoming period, indicating growing confidence in TBRG's financial prospects.
However, investors should note that TruBridge is currently trading at a high EBITDA valuation multiple, which may suggest the stock is somewhat expensive relative to its earnings. Additionally, the company was not profitable over the last twelve months, with a negative operating income of $4.22 million for the same period.
For a more comprehensive analysis, InvestingPro offers 11 additional tips for TBRG, providing deeper insights into the company's financial health and market position.
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