SBC Medical Group (NASDAQ:SBC) Given Buy Rating at BTIG Research

SBC Medical Group (NASDAQ:SBC)‘s stock had its “buy” rating restated by research analysts at BTIG Research in a report released on Thursday,Benzinga reports. They presently have a $8.00 target price on the stock. BTIG Research’s target price indicates a potential upside of 150.78% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Wall Street Zen raised shares of SBC Medical Group to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings lowered SBC Medical Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, SBC Medical Group currently has a consensus rating of “Hold” and a consensus price target of $8.50.

SBC Medical Group Price Performance

Shares of SBC opened at $3.19 on Thursday. The business’s fifty day moving average is $3.07 and its 200 day moving average is $3.56. SBC Medical Group has a 12-month low of $2.78 and a 12-month high of $5.07. The company has a quick ratio of 3.78, a current ratio of 3.82 and a debt-to-equity ratio of 0.12. The stock has a market cap of $327.23 million, a P/E ratio of 8.18 and a beta of 0.59.

SBC Medical Group (NASDAQ:SBC) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). SBC Medical Group had a net margin of 24.09% and a return on equity of 15.90%. The business had revenue of $49.19 million for the quarter, compared to the consensus estimate of $45.37 million. Sell-side analysts anticipate that SBC Medical Group will post 0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SBC Medical Group

A number of hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new stake in shares of SBC Medical Group in the 1st quarter worth about $43,000. Goldman Sachs Group Inc. purchased a new stake in shares of SBC Medical Group in the fourth quarter worth approximately $49,000. Russell Investments Group Ltd. increased its stake in SBC Medical Group by 292.0% in the fourth quarter. Russell Investments Group Ltd. now owns 11,775 shares of the company’s stock worth $51,000 after purchasing an additional 8,771 shares during the period. Nuveen LLC bought a new stake in SBC Medical Group during the 4th quarter valued at about $53,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of SBC Medical Group by 195.1% in the fourth quarter. Wells Fargo & Company MN now owns 12,626 shares of the company’s stock valued at $54,000 after purchasing an additional 8,348 shares during the period. 60.82% of the stock is currently owned by hedge funds and other institutional investors.

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.