TruBridge TBRG shares soared 18% in the last trading session to close at $21.22. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.9% gain over the past four weeks.
TruBridge (TBRG) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock sug
TruBridge TBRG shares soared 18% in the last trading session to close at $21.22. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.9% gain over the past four weeks.
TruBridge saw a strong price increase driven by investor optimism following a major policy update. Centers for Medicare & Medicaid Services (CMS) finalized an average rate increase of 2.48% for next year - significantly higher than the 0.09% increase initially proposed earlier this year. As a result, the government is expected to provide more than $13 billion in additional payments to Medicare Advantage plans in 2027 compared to the $700 million increase originally projected.
This healthcare information technology company is expected to post quarterly earnings of $0.51 per share in its upcoming report, which represents a year-over-year change of +41.7%. Revenues are expected to be $89.51 million, up 2.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For TruBridge, the consensus EPS estimate for the quarter has been revised 33.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on TBRG going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
TruBridge is part of the Zacks Medical Info Systems industry. Butterfly Network, Inc. BFLY, another stock in the same industry, closed the last trading session 4.1% higher at $4.28. BFLY has returned 8.2% in the past month.
For Butterfly Network, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.04. This represents a change of +33.3% from what the company reported a year ago. Butterfly Network currently has a Zacks Rank of #3 (Hold).
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