SBC Medical Group (NASDAQ:SBC) Shares Gap Down – What’s Next?

SBC Medical Group Holdings Incorporated (NASDAQ:SBC)’s stock price gapped down prior to trading on Wednesday. The stock had previously closed at $5.37, but opened at $5.19. SBC Medical Group shares last traded at $5.3450, with a volume of 21,291 shares trading hands.

Wall Street Analysts Forecast Growth

SBC has been the topic of several recent analyst reports. BTIG Research reissued a “buy” rating and issued a $8.00 target price on shares of SBC Medical Group in a report on Thursday, August 13th. Weiss Ratings raised SBC Medical Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 9th. Finally, Wall Street Zen raised SBC Medical Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 5th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

SBC Medical Group Price Performance

The company has a market capitalization of $551.77 million, a PE ratio of 11.38 and a beta of 0.56. The company’s 50 day simple moving average is $4.76 and its 200 day simple moving average is $3.91.

SBC Medical Group (NASDAQ:SBC) last issued its earnings results on Thursday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). The firm had revenue of $49.19 million for the quarter, compared to analyst estimates of $45.37 million. On average, equities analysts forecast that SBC Medical Group Holdings Incorporated will post 0.44 EPS for the current year.

Hedge Funds Weigh In On SBC Medical Group

A number of institutional investors have recently modified their holdings of SBC. Bank of America Corp DE acquired a new stake in SBC Medical Group during the 2nd quarter worth $35,000. Nisa Investment Advisors LLC acquired a new position in SBC Medical Group in the third quarter valued at $36,000. Bank of New York Mellon Corp acquired a new position in SBC Medical Group in the first quarter valued at $43,000. Deutsche Bank AG acquired a new position in SBC Medical Group in the second quarter valued at $58,000. Finally, Williams & Novak LLC raised its holdings in shares of SBC Medical Group by 31.2% in the second quarter. Williams & Novak LLC now owns 18,686 shares of the company’s stock valued at $58,000 after buying an additional 4,449 shares during the last quarter. 60.82% of the stock is owned by institutional investors and hedge funds.

About SBC Medical Group

SBC Medical Group Holdings Incorporated is a Japan-based healthcare services company focused on supporting aesthetic medicine and related medical institutions. Through its group companies, the business provides operational and management support designed to help clinics deliver cosmetic surgery, dermatology, and other elective medical services.

The company’s services include clinic management consulting, marketing, staff recruitment and training, procurement, information technology, and administrative support.