SBC Medical Group (NASDAQ:SBC) Sets New 52-Week High Following Strong Earnings

Key Points

• SBC Medical Group beat quarterly estimates, reporting EPS of $0.15 versus $0.12 expected and revenue of $58.58 million versus $48.90 million expected.
• After the earnings report, shares reached a new 52-week high of $6.67 and were last trading at $6.514, up from the previous close of $5.34.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $8.00.

SBC Medical Group Holdings Incorporated (NASDAQ:SBC - Get Free Report)'s share price hit a new 52-week high on Friday following a stronger than expected earnings report. The stock traded as high as $6.67 and last traded at $6.5140, with a volume of 250,311 shares. The stock had previously closed at $5.34.

The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. SBC Medical Group had a return on equity of 18.47% and a net margin of 27.99%. The business had revenue of $58.58 million during the quarter, compared to analysts' expectations of $48.90 million.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. BTIG Research reaffirmed a "buy" rating and issued a $8.00 price objective on shares of SBC Medical Group in a research note on Thursday, August 13th. Wall Street Zen upgraded shares of SBC Medical Group from a "buy" rating to a "strong-buy" rating in a report on Monday, October 5th. Finally, Weiss Ratings raised shares of SBC Medical Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, SBC Medical Group has an average rating of "Moderate Buy" and an average target price of $8.00.

Institutional Trading of SBC Medical Group

Large investors have recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of SBC Medical Group by 58.9% in the third quarter. State Street Corp now owns 78,232 shares of the company's stock valued at $386,000 after purchasing an additional 28,993 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in SBC Medical Group by 2,810.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 125,991 shares of the company's stock worth $622,000 after acquiring an additional 121,662 shares in the last quarter. Nisa Investment Advisors LLC purchased a new stake in SBC Medical Group in the 3rd quarter worth about $36,000. Williams & Novak Wealth Management LLC boosted its position in SBC Medical Group by 40.9% during the 3rd quarter. Williams & Novak Wealth Management LLC now owns 26,330 shares of the company's stock worth $130,000 after acquiring an additional 7,644 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in SBC Medical Group during the 2nd quarter worth about $446,000. 60.82% of the stock is owned by institutional investors and hedge funds.

SBC Medical Group Trading Up 28.5%

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 company has a 50 day simple moving average of $5.07 and a two-hundred day simple moving average of $3.96. The company has a market cap of $705.86 million, a PE ratio of 14.66, a PEG ratio of 2.36 and a beta of 0.52.

SBC Medical Group Company Profile

SBC Medical Group Holdings provides management and support services to medical institutions, with a focus on clinics offering aesthetic medicine. Its services include support for clinic operations, marketing, staff training, procurement and customer service, allowing affiliated medical providers to focus on patient care. The group is associated with the Shonan Beauty Clinic brand and a broader network of clinics offering services such as cosmetic surgery and dermatology. Its business is centered primarily in Japan, where it supports the operations and growth of affiliated medical institutions.

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