SBC Medical Group Holdings Incorporated (NASDAQ:SBC) Short Interest Down 24.6% in January

SBC Medical Group Holdings Incorporated (NASDAQ:SBC) was the recipient of a large decline in short interest during the month of January. As of January 15th, there was short interest totaling 302,608 shares, a decline of 24.6% from the December 31st total of 401,307 shares. Currently, 2.8% of the shares of the company are short sold. Based on an average trading volume of 29,771 shares, the short-interest ratio is currently 10.2 days. Based on an average trading volume of 29,771 shares, the short-interest ratio is currently 10.2 days. Currently, 2.8% of the shares of the company are short sold.

Hedge Funds Weigh In On SBC Medical Group

A number of hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd bought a new position in SBC Medical Group during the second quarter valued at approximately $64,000. New York State Common Retirement Fund bought a new stake in shares of SBC Medical Group in the second quarter worth $104,000. SBI Securities Co. Ltd. increased its position in SBC Medical Group by 227.3% during the second quarter. SBI Securities Co. Ltd. now owns 54,177 shares of the company’s stock valued at $251,000 after acquiring an additional 37,623 shares during the last quarter. Millennium Management LLC bought a new position in SBC Medical Group in the third quarter valued at about $219,000. Finally, Geode Capital Management LLC purchased a new position in SBC Medical Group in the second quarter worth about $455,000. Institutional investors and hedge funds own 60.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SBC. Weiss Ratings reissued a “sell (d+)” rating on shares of SBC Medical Group in a report on Monday, December 29th. Maxim Group assumed coverage on SBC Medical Group in a research note on Wednesday, November 5th. They set a “buy” rating and a $9.00 price objective on the stock. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $9.00.

SBC Medical Group Stock Performance

NASDAQ:SBC traded up $0.35 during mid-day trading on Friday, hitting $4.58. 42,356 shares of the stock were exchanged, compared to its average volume of 27,055. The stock has a market capitalization of $469.82 million, a price-to-earnings ratio of 11.17 and a beta of 1.13. SBC Medical Group has a fifty-two week low of $2.62 and a fifty-two week high of $7.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.06 and a current ratio of 5.10. The firm’s 50-day simple moving average is $4.18 and its 200 day simple moving average is $4.14.

SBC Medical Group (NASDAQ:SBC) last announced its quarterly earnings data on Friday, November 14th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $43.35 million during the quarter, compared to analyst estimates of $46.45 million. SBC Medical Group had a net margin of 24.28% and a return on equity of 24.17%. As a group, equities analysts anticipate that SBC Medical Group will post 5.02 EPS for the current fiscal year.

SBC Medical Group Company Profile

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.