SBC Medical Group (NASDAQ:SBC) Coverage Initiated at BTIG Research

Investment analysts at BTIG Research started coverage on shares of SBC Medical Group (NASDAQ:SBC) in a research note issued on Friday, Marketbeat Ratings reports. The firm set a “buy” rating and a $8.00 price target on the stock. BTIG Research’s target price points to a potential upside of 115.05% from the company’s current price.

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of SBC Medical Group in a research note on Monday, December 29th. 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, the stock presently has a consensus rating of “Hold” and an average target price of $8.50.

SBC Medical Group Stock Up 1.6%

SBC opened at $3.72 on Friday. The stock has a market cap of $381.60 million, a price-to-earnings ratio of 9.07 and a beta of 1.19. 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 firm’s fifty day moving average is $4.34 and its 200 day moving average is $4.09. SBC Medical Group has a fifty-two week low of $2.91 and a fifty-two week high of $5.75.

Hedge Funds Weigh In On SBC Medical Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. grew its position in SBC Medical Group by 227.3% in the second quarter. SBI Securities Co. Ltd. now owns 54,177 shares of the company’s stock worth $251,000 after acquiring an additional 37,623 shares in the last quarter. Wells Fargo & Company MN raised its position in SBC Medical Group by 195.1% during 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. XTX Topco Ltd bought a new stake in shares of SBC Medical Group in the 2nd quarter valued at approximately $64,000. Barclays PLC lifted its stake in shares of SBC Medical Group by 123.7% in the 4th quarter. Barclays PLC now owns 17,779 shares of the company’s stock valued at $77,000 after purchasing an additional 9,831 shares during the last quarter. Finally, New York State Common Retirement Fund purchased a new position in shares of SBC Medical Group in the 2nd quarter worth approximately $104,000. 60.82% of the stock is owned by hedge funds and other institutional investors.

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.