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

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

Wall Street Analyst Weigh In

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

SBC Medical Group Stock Performance

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 current ratio of 3.82, a quick ratio of 3.78 and a debt-to-equity ratio of 0.12. The firm’s 50-day simple moving average is $3.46 and its 200-day simple moving average is $3.90.

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

Insider Buying and Selling at SBC Medical Group

In other news, CEO Yoshiyuki Aikawa sold 465,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $3.02, for a total value of $1,404,300.00. Following the completion of the sale, the chief executive officer owned 78,839,460 shares of the company’s stock, valued at approximately $238,095,169.20. This represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 81.70% of the company’s stock.

Institutional Investors Weigh In On SBC Medical Group

Several hedge funds have recently modified their holdings of the business. Segall Bryant & Hamill LLC purchased a new stake in shares of SBC Medical Group in the 1st quarter worth approximately $340,000. Bank of New York Mellon Corp purchased a new stake in shares of SBC Medical Group in the 1st quarter worth approximately $43,000. Russell Investments Group Ltd. lifted its position 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 worth $51,000 after purchasing an additional 8,771 shares during the period. Barclays PLC lifted its position in SBC Medical Group by 123.7% during the fourth quarter. Barclays PLC now owns 17,779 shares of the company’s stock valued at $77,000 after acquiring an additional 9,831 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in SBC Medical Group by 91.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,341 shares of the company’s stock valued at $118,000 after acquiring an additional 13,074 shares during the last quarter. Hedge funds and other institutional investors own 60.82% of the company’s stock.

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.