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

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

Analyst Upgrades and Downgrades

SBC has been the topic of several research reports. Weiss Ratings downgraded SBC Medical Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 22nd. Wall Street Zen raised SBC Medical Group to a “hold” rating in a research report on Saturday, May 9th. Finally, BTIG Research initiated coverage on SBC Medical Group in a research report on Friday, March 6th. They issued a “buy” rating and a $8.00 target price on the stock. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, SBC Medical Group currently has an average rating of “Hold” and an average target price of $8.50.

SBC Medical Group Price Performance

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 company has a market cap of $294.40 million, a P/E ratio of 7.36 and a beta of 0.59. The business’s fifty day moving average is $3.46 and its 200 day moving average is $3.90.

SBC Medical Group (NASDAQ:SBC) last posted 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 analyst estimates of $41.66 million. SBC Medical Group had a return on equity of 15.90% and a net margin of 24.09%. As a group, sell-side analysts anticipate that SBC Medical Group Holdings Incorporated will post 0.47 EPS for the current year.

Insider Transactions at SBC Medical Group

In other SBC Medical Group news, CEO Yoshiyuki Aikawa sold 3,100,000 shares of the company’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $3.02, for a total transaction of $9,362,000.00. Following the completion of the sale, the chief executive officer directly owned 79,304,460 shares in the company, valued at $239,499,469.20. This represents a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 81.70% of the company’s stock.

Institutional Trading of SBC Medical Group

Several large investors have recently bought and sold shares of the company. Segall Bryant & Hamill LLC purchased a new position in shares of SBC Medical Group during the first quarter valued at approximately $340,000. Bank of New York Mellon Corp purchased a new position in shares of SBC Medical Group during the first quarter valued at approximately $43,000. Russell Investments Group Ltd. lifted its holdings in shares of SBC Medical Group by 292.0% during the fourth 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 during the last quarter. Barclays PLC lifted its holdings in shares of 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 purchasing an additional 9,831 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 purchasing an additional 13,074 shares during the last quarter. 60.82% of the stock is owned by 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.