SBC Medical Group's (SBC) Buy Rating Reiterated at BTIG Research

Key Points

• BTIG Research reaffirmed its Buy rating on SBC Medical Group and set an $8.00 price target, implying 150.78% upside from the previous close.
• Analyst sentiment is mixed: two analysts rate the stock Buy and one rates it Sell, resulting in an overall Hold consensus and an average price target of $8.50.
• SBC reported quarterly revenue of $49.19 million, above the $45.37 million consensus estimate, but earnings per share of $0.10 missed expectations by $0.02. Institutional investors own 60.82% of the company.

SBC Medical Group (NASDAQ:SBC - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at BTIG Research in a report released on Thursday,Benzinga reports. They presently have a $8.00 price target on the stock. BTIG Research's price target indicates a potential upside of 150.78% from the stock's previous close.

Several other equities analysts have also recently issued reports on SBC. Weiss Ratings cut shares of SBC Medical Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 22nd. Wall Street Zen raised SBC Medical Group to a "hold" rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $8.50.

SBC Medical Group Price Performance

Shares of NASDAQ:SBC opened at $3.19 on Thursday. The company has a current ratio of 3.82, a quick ratio of 3.78 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $327.23 million, a PE ratio of 8.18 and a beta of 0.59. The firm has a 50 day moving average of $3.07 and a 200-day moving average of $3.56. SBC Medical Group has a 12 month low of $2.78 and a 12 month high of $5.07.

SBC Medical Group (NASDAQ:SBC - Get Free Report) last released its earnings results 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 return on equity of 15.90% and a net margin of 24.09%.The business had revenue of $49.19 million for the quarter, compared to the consensus estimate of $45.37 million. On average, equities research analysts predict that SBC Medical Group will post 0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On SBC Medical Group

A number of institutional investors and hedge funds have recently modified their holdings of SBC. BlackRock Inc. acquired a new stake in shares of SBC Medical Group during the 2nd quarter worth approximately $2,846,000. Geode Capital Management LLC bought a new position in SBC Medical Group during the second quarter worth $455,000. Segall Bryant & Hamill LLC acquired a new stake in SBC Medical Group in the first quarter worth $340,000. Millennium Management LLC acquired a new stake in SBC Medical Group in the third quarter worth $219,000. Finally, Bank of New York Mellon Corp bought a new stake in SBC Medical Group in the second quarter valued at $83,000. 60.82% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source