Wall Street Zen upgraded shares of SBC Medical Group (NASDAQ:SBC – Free Report) from a hold rating to a buy rating in a report released on Saturday morning.
Several other research analysts have also recently weighed in on SBC. BTIG Research restated a “buy” rating and issued a $8.00 price objective on shares of SBC Medical Group in a research report on Thursday, August 13th. Weiss Ratings lowered SBC Medical Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 22nd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.50.
Read Our Latest Report on SBC Medical Group
SBC Medical Group Stock Performance
SBC Medical Group (NASDAQ:SBC – Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). SBC Medical Group had a net margin of 27.99% and a return on equity of 18.47%. The company had revenue of $49.19 million during the quarter, compared to analyst estimates of $45.37 million. On average, research analysts anticipate that SBC Medical Group will post 0.47 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of SBC. Williams & Novak LLC raised its stake in shares of SBC Medical Group by 31.2% during the second quarter. Williams & Novak LLC now owns 18,686 shares of the company’s stock worth $58,000 after buying an additional 4,449 shares during the last quarter. Wells Fargo & Company MN boosted its stake in SBC Medical Group by 195.1% in the fourth quarter. Wells Fargo & Company MN now owns 12,626 shares of the company’s stock valued at $54,000 after acquiring an additional 8,348 shares during the last quarter. Russell Investments Group Ltd. grew its holdings 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 acquiring an additional 8,771 shares during the period. Barclays PLC grew its holdings in SBC Medical Group by 123.7% during the 4th quarter. Barclays PLC now owns 17,779 shares of the company’s stock worth $77,000 after acquiring an additional 9,831 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of SBC Medical Group during the 1st quarter valued at $43,000. Institutional investors 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.
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