SBC Medical Group (NASDAQ:SBC) Sets New 12-Month High Following Analyst Upgrade

Key Points

• SBC Medical Group shares reached a new 52-week high of $5.35 after Wall Street Zen upgraded the stock to a “strong-buy” rating.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an $8.50 price target; BTIG Research maintains a $8.00 target.
• Institutional ownership stands at 60.82%, while the latest quarter showed revenue of $49.19 million—above estimates—but earnings per share of $0.10 missed expectations.

Shares of SBC Medical Group Holdings Incorporated (NASDAQ:SBC - Get Free Report) hit a new 52-week high during trading on Monday after Wall Street Zen upgraded the stock from a buy rating to a strong-buy rating. The company traded as high as $5.35 and last traded at $5.2570, with a volume of 59735 shares changing hands. The stock had previously closed at $5.09.

A number of other brokerages have also recently issued reports on SBC. BTIG Research reiterated a "buy" rating and issued a $8.00 price target on shares of SBC Medical Group in a research note on Thursday, August 13th. Weiss Ratings upgraded shares of SBC Medical Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, September 22nd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.50.

Institutional Investors Weigh In On SBC Medical Group

Several hedge funds and other institutional investors have recently modified their holdings of SBC. State Street Corp raised 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 acquiring an additional 18,400 shares during the period. Citadel Advisors LLC purchased a new position in SBC Medical Group in the 2nd quarter worth approximately $446,000. Two Sigma Securities LLC purchased a new position in SBC Medical Group in the 2nd quarter worth approximately $66,000. Bank of America Corp DE bought a new position in SBC Medical Group in the 2nd quarter worth approximately $35,000. Finally, BlackRock Inc. bought a new position in SBC Medical Group in the 2nd quarter worth approximately $2,846,000. 60.82% of the stock is currently owned by hedge funds and other institutional investors.

SBC Medical Group Stock Performance

The firm has a market capitalization of $542.53 million, a PE ratio of 11.27, a price-to-earnings-growth ratio of 2.29 and a beta of 0.56. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.27 and a current ratio of 3.31. The business's fifty day simple moving average is $4.04 and its 200-day simple moving average is $3.62.

SBC Medical Group (NASDAQ:SBC - Get Free Report) last released its 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). The company had revenue of $49.19 million during the quarter, compared to analysts' expectations of $45.37 million. SBC Medical Group had a return on equity of 18.47% and a net margin of 27.99%. As a group, equities research analysts expect that SBC Medical Group Holdings Incorporated will post 0.44 EPS for the current year.

About SBC Medical Group

SBC Medical Group Holdings Incorporated NASDAQ: SBC is a healthcare company focused on supporting medical institutions, particularly clinics that provide aesthetic and cosmetic medical treatments. Its business includes management services, operational support and products designed to help medical providers deliver care and manage their practices.

The company is associated with the Shonan Beauty Clinic network, which offers services such as cosmetic surgery, dermatology, hair restoration and other aesthetic procedures.

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