SBC Medical Group (NASDAQ:SBC) Trading Down 0.3% – Here’s What Happened

Shares of SBC Medical Group Holdings Incorporated (NASDAQ:SBC) traded down 0.3% during trading on Friday . The company traded as low as $2.90 and last traded at $2.97. 74,097 shares were traded during trading, a decline of 49% from the average daily volume of 145,108 shares. The stock had previously closed at $2.98.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SBC. Weiss Ratings lowered shares of SBC Medical Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 22nd. Wall Street Zen upgraded SBC Medical Group to a “hold” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, SBC Medical Group has a consensus rating of “Hold” and an average target price of $8.50.

SBC Medical Group Stock Down 0.3%

The business has a fifty day simple moving average of $3.09 and a two-hundred day simple moving average of $3.79. 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 $304.66 million, a PE ratio of 7.62 and a beta of 0.60.

SBC Medical Group (NASDAQ:SBC) last announced its earnings results on Thursday, May 14th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. SBC Medical Group had a net margin of 24.09% and a return on equity of 15.90%. The company had revenue of $43.06 million for the quarter, compared to analysts’ expectations of $41.66 million. As a group, equities 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 related news, CEO Yoshiyuki Aikawa sold 3,100,000 shares of the business’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 transaction, the chief executive officer directly owned 79,304,460 shares in the company, valued at approximately $239,499,469.20. The trade was a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 81.70% of the company’s stock.

Institutional Trading of SBC Medical Group

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC purchased a new position in SBC Medical Group in the 2nd quarter worth approximately $455,000. Segall Bryant & Hamill LLC acquired a new position in shares of SBC Medical Group during the 1st quarter worth approximately $340,000. Millennium Management LLC purchased a new stake in shares of SBC Medical Group in the third quarter valued at approximately $219,000. Central Pacific Bank Trust Division purchased a new stake in shares of SBC Medical Group in the second quarter valued at approximately $74,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of SBC Medical Group in the second quarter valued at approximately $104,000. Institutional investors and hedge funds 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.