SBC Medical Group (NASDAQ:SBC) Rating Lowered to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen downgraded SBC Medical Group from “strong buy” to “buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $8.50.
• SBC shares opened at $4.90 and have risen above their 50-day and 200-day moving averages; the stock’s 52-week range is $2.78 to $5.29.
• The company beat quarterly revenue estimates but missed earnings expectations, reporting $0.10 EPS versus the $0.12 consensus and $49.19 million in revenue versus $45.37 million expected. Institutional investors own 60.82% of the stock.

SBC Medical Group (NASDAQ:SBC - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Sunday, Wall Street Zen reports.

SBC has been the subject of a number of other reports. Weiss Ratings raised SBC Medical Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday. BTIG Research reissued a "buy" rating and issued a $8.00 price objective on shares of SBC Medical Group in a report on Thursday, August 13th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $8.50.

SBC Medical Group Trading Up 3.2%

Shares of SBC Medical Group stock opened at $4.90 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.31 and a quick ratio of 3.27. The stock's 50 day simple moving average is $3.84 and its 200-day simple moving average is $3.57. The stock has a market cap of $503.97 million, a P/E ratio of 10.43 and a beta of 0.63. SBC Medical Group has a 1-year low of $2.78 and a 1-year high of $5.29.

SBC Medical Group (NASDAQ:SBC - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.10 EPS 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. Analysts predict that SBC Medical Group will post 0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On SBC Medical Group

Several hedge funds have recently bought and sold shares of SBC. BlackRock Inc. purchased a new position in SBC Medical Group in the 2nd quarter valued at approximately $2,846,000. Citadel Advisors LLC purchased a new position in shares of SBC Medical Group in the 2nd quarter valued at $446,000. Segall Bryant & Hamill LLC purchased a new position in shares of SBC Medical Group during the first quarter worth about $340,000. State Street Corp grew its stake in SBC Medical Group by 59.7% during the 2nd quarter. State Street Corp now owns 49,239 shares of the company's stock worth $152,000 after buying an additional 18,400 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of SBC Medical Group during the second quarter worth approximately $83,000. Institutional investors and hedge funds own 60.82% of the company's stock.

SBC Medical Group Company Profile

SBC Medical Group NASDAQ: SBC is a Japan-based medical services and management company focused primarily on the aesthetic medicine sector. Through its affiliated medical corporations and clinic network, the company supports the operation of facilities offering cosmetic surgery, cosmetic dermatology and related elective treatments.

The company provides a range of management and operational services to affiliated clinics, including branding and marketing, staff recruitment and training, purchasing, information technology, administrative support and business consulting.

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