SBC Medical Group (NASDAQ:SBC) Shares Down 4% – Here’s What Happened

Shares of SBC Medical Group Holdings Incorporated (NASDAQ:SBC) were down 4% during trading on Friday . The company traded as low as $2.87 and last traded at $2.87. Approximately 86,387 shares changed hands during trading, a decline of 27% from the average daily volume of 118,387 shares. The stock had previously closed at $2.99.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wall Street Zen upgraded SBC Medical Group to a “hold” rating in a report on Saturday, May 9th. BTIG Research assumed coverage on SBC Medical Group in a research note on Friday, March 6th. They set a “buy” rating and a $8.00 price target for the company. Finally, Weiss Ratings downgraded SBC Medical Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, SBC Medical Group has an average rating of “Hold” and an average target price of $8.50.

SBC Medical Group Stock Down 4.0%

The firm has a 50-day simple moving average of $3.46 and a 200 day simple moving average of $3.90. The company has a market capitalization of $294.40 million, a PE ratio of 7.36 and a beta of 0.59. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.82 and a quick ratio of 3.78.

SBC Medical Group (NASDAQ:SBC) last posted its earnings results on Thursday, May 14th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $43.06 million during the quarter, compared to analyst estimates of $41.66 million. SBC Medical Group had a return on equity of 15.90% and a net margin of 24.09%. On average, research analysts predict that SBC Medical Group Holdings Incorporated will post 0.47 EPS for the current fiscal year.

Insider Transactions at SBC Medical Group

In other news, CEO Yoshiyuki Aikawa sold 465,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $3.02, for a total transaction of $1,404,300.00. Following the transaction, the chief executive officer directly owned 78,839,460 shares of the company’s stock, valued at approximately $238,095,169.20. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 81.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On SBC Medical Group

Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new position in shares of SBC Medical Group during the 1st quarter valued at approximately $43,000. Goldman Sachs Group Inc. acquired a new stake in shares of SBC Medical Group in the 4th quarter valued at about $49,000. Russell Investments Group Ltd. raised its stake in shares of SBC Medical Group by 292.0% in the 4th quarter. Russell Investments Group Ltd. now owns 11,775 shares of the company’s stock valued at $51,000 after purchasing an additional 8,771 shares in the last quarter. Nuveen LLC bought a new position in shares of SBC Medical Group during the fourth quarter worth about $53,000. Finally, Wells Fargo & Company MN grew its stake in SBC Medical Group by 195.1% in the fourth quarter. Wells Fargo & Company MN now owns 12,626 shares of the company’s stock worth $54,000 after purchasing an additional 8,348 shares in the last quarter. Institutional investors and hedge funds 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.