BlackRock Inc. Makes New $2.85 Million Investment in SBC Medical Group Holdings Incorporated $SBC

Key Points

• BlackRock acquired 924,002 shares of SBC Medical Group in the second quarter, valued at approximately $2.85 million and representing about 0.90% of the company. Institutional investors collectively own 60.82% of SBC.
• SBC reported quarterly revenue of $49.19 million, exceeding estimates of $45.37 million, but earnings of $0.10 per share missed the $0.12 consensus forecast. Analysts expect full-year EPS of $0.44.
• The stock recently traded at $4.12, while analyst sentiment remains mixed: two analysts rate it Buy and one rates it Sell, producing a consensus Hold rating and an average price target of $8.50.

BlackRock Inc. bought a new position in SBC Medical Group Holdings Incorporated (NASDAQ:SBC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 924,002 shares of the company's stock, valued at approximately $2,846,000. BlackRock Inc. owned about 0.90% of SBC Medical Group as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp acquired a new position in SBC Medical Group during the 1st quarter worth about $43,000. Goldman Sachs Group Inc. bought a new stake in SBC Medical Group during the 4th quarter worth about $49,000. Russell Investments Group Ltd. increased its position in SBC Medical Group by 292.0% in the 4th quarter. Russell Investments Group Ltd. now owns 11,775 shares of the company's stock valued at $51,000 after acquiring an additional 8,771 shares in the last quarter. Nuveen LLC acquired a new stake in SBC Medical Group in the 4th quarter valued at about $53,000. Finally, Wells Fargo & Company MN raised its stake in shares of SBC Medical Group by 195.1% in 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 during the last quarter. Institutional investors and hedge funds own 60.82% of the company's stock.

SBC Medical Group Stock Performance

SBC stock opened at $4.12 on Friday. SBC Medical Group Holdings Incorporated has a twelve month low of $2.78 and a twelve month high of $5.07. The company has a quick ratio of 3.27, a current ratio of 3.31 and a debt-to-equity ratio of 0.09. The company has a market cap of $423.74 million, a P/E ratio of 8.77 and a beta of 0.63. The business's fifty day moving average is $3.38 and its 200-day moving average is $3.51.

SBC Medical Group (NASDAQ:SBC - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $49.19 million during the quarter, compared to analyst estimates of $45.37 million. Equities research analysts forecast that SBC Medical Group Holdings Incorporated will post 0.44 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of SBC Medical Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Weiss Ratings reiterated a "sell (d+)" rating on shares of SBC Medical Group in a research report on Wednesday, August 19th. Finally, BTIG Research reissued a "buy" rating and issued a $8.00 target price on shares of SBC Medical Group in a research note on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $8.50.

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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