SBC Medical Group (NASDAQ:SBC) Stock Price Up 0.7% – Time to Buy?

Shares of SBC Medical Group Holdings Incorporated (NASDAQ:SBC) rose 0.7% during mid-day trading on Monday . The company traded as high as $4.49 and last traded at $4.47. Approximately 15,712 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 72,620 shares. The stock had previously closed at $4.44.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Maxim Group started coverage on shares of SBC Medical Group in a research report on Wednesday, November 5th. They set a “buy” rating and a $9.00 target price on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of SBC Medical Group in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded SBC Medical Group from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $9.00.

SBC Medical Group Trading Up 0.7%

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 stock has a market cap of $458.53 million, a P/E ratio of 10.90 and a beta of 1.14. The company has a 50-day simple moving average of $3.86 and a 200-day simple moving average of $4.18.

SBC Medical Group (NASDAQ:SBC) last announced its earnings results on Friday, November 14th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). SBC Medical Group had a return on equity of 24.17% and a net margin of 24.28%.The business had revenue of $43.35 million for the quarter, compared to the consensus estimate of $46.45 million. On average, sell-side analysts forecast that SBC Medical Group Holdings Incorporated will post 5.02 EPS for the current fiscal year.

Hedge Funds Weigh In On SBC Medical Group

A number of institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. grew its stake in shares of 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 purchasing an additional 37,623 shares during the last quarter. Millennium Management LLC acquired a new position in SBC Medical Group during the 3rd quarter worth $219,000. New York State Common Retirement Fund bought a new position in SBC Medical Group in the 2nd quarter valued at $104,000. XTX Topco Ltd bought a new position in SBC Medical Group in the 2nd quarter valued at $64,000. Finally, Geode Capital Management LLC acquired a new stake in shares of SBC Medical Group in the 2nd quarter valued at $455,000. 60.82% of the stock is owned by 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.