SBC Medical Group (NASDAQ:SBC) Stock Rating Upgraded by Wall Street Zen

SBC Medical Group (NASDAQ:SBC) was upgraded by research analysts at Wall Street Zen to a “hold” rating in a report issued on Saturday.

Several other equities analysts also recently commented on SBC. Weiss Ratings restated a “sell (d+)” rating on shares of SBC Medical Group in a research report on Friday, March 27th. BTIG Research began coverage on SBC Medical Group in a research report on Friday, March 6th. They issued a “buy” rating and a $8.00 price objective on the stock. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.50.

SBC Medical Group Price Performance

Shares of SBC Medical Group stock opened at $3.18 on Friday. The stock’s 50-day simple moving average is $3.84 and its 200-day simple moving average is $3.96. SBC Medical Group has a 52 week low of $2.97 and a 52 week high of $5.75. The company has a market capitalization of $326.20 million, a price-to-earnings ratio of 6.49 and a beta of 0.61. The company has a quick ratio of 3.74, a current ratio of 3.78 and a debt-to-equity ratio of 0.13.

SBC Medical Group (NASDAQ:SBC) last announced its quarterly earnings data on Friday, March 27th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. SBC Medical Group had a return on equity of 20.76% and a net margin of 29.37%.The business had revenue of $39.57 million for the quarter, compared to the consensus estimate of $45.19 million. As a group, analysts expect that SBC Medical Group will post 0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SBC Medical Group news, CEO Yoshiyuki Aikawa sold 465,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $3.02, for a total transaction of $1,404,300.00. Following the sale, the chief executive officer directly owned 78,839,460 shares of the company’s stock, valued at $238,095,169.20. The trade was a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 7,987,900 shares of company stock worth $20,142,848 over the last quarter. Insiders own 89.47% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SBC. Geode Capital Management LLC purchased a new position in shares of SBC Medical Group during the second quarter valued at approximately $455,000. XTX Topco Ltd purchased a new position in shares of SBC Medical Group during the second quarter valued at approximately $64,000. New York State Common Retirement Fund purchased a new position in shares of SBC Medical Group during the second quarter valued at approximately $104,000. Millennium Management LLC purchased a new position in shares of SBC Medical Group during the third quarter valued at approximately $219,000. Finally, Williams & Novak LLC purchased a new position in shares of SBC Medical Group during the fourth quarter valued at approximately $65,000. Hedge funds and other institutional investors own 60.82% of the company’s stock.

About SBC Medical Group

SBC Medical Group, Inc is a publicly traded healthcare management services company listed on the Nasdaq under the ticker SBC. The company specializes in supporting in-office ancillary service providers by offering a suite of administrative and operational solutions designed to streamline practice management and enhance revenue performance. Its core mission is to help physician practices, imaging centers and other ancillary service providers focus on patient care while outsourcing complex back-office functions.

The company’s primary offerings include revenue cycle management, medical billing and coding, compliance oversight and transcription services.