SBC Medical Group (NASDAQ:SBC) Earns Buy Rating from Analysts at BTIG Research

BTIG Research initiated coverage on shares of SBC Medical Group (NASDAQ:SBC) in a report published on Friday, Marketbeat reports. The brokerage issued a buy rating and a $8.00 price objective on the stock.

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of SBC Medical Group in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $8.50.

SBC Medical Group Trading Up 1.6%

Shares of NASDAQ SBC opened at $3.72 on Friday. SBC Medical Group has a fifty-two week low of $2.91 and a fifty-two week high of $5.75. The firm has a market capitalization of $381.59 million, a P/E ratio of 9.07 and a beta of 1.19. The company has a debt-to-equity ratio of 0.07, a current ratio of 5.10 and a quick ratio of 5.06. The company’s 50 day simple moving average is $4.34 and its 200 day simple moving average is $4.09.

Hedge Funds Weigh In On SBC Medical Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. acquired a new position in shares of SBC Medical Group in the 4th quarter valued at $49,000. Russell Investments Group Ltd. raised its stake in SBC Medical Group by 292.0% during the 4th quarter. Russell Investments Group Ltd. now owns 11,775 shares of the company’s stock worth $51,000 after buying an additional 8,771 shares during the period. Nuveen LLC bought a new position in SBC Medical Group during the fourth quarter worth about $53,000. Wells Fargo & Company MN lifted its holdings 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 worth $54,000 after acquiring an additional 8,348 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in SBC Medical Group in the second quarter valued at about $64,000. 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.