SBC Medical Group (NASDAQ:SBC) Sets New 1-Year High – Here’s What Happened

Shares of SBC Medical Group Holdings Incorporated (NASDAQ:SBC) reached a new 52-week high during trading on Tuesday. The stock traded as high as $5.61 and last traded at $5.4040, with a volume of 39,904 shares trading hands. The stock had previously closed at $5.39.

Analyst Upgrades and Downgrades

SBC has been the subject of several recent research reports. BTIG Research reissued a “buy” rating and set a $8.00 target price on shares of SBC Medical Group in a report on Thursday, August 13th. Weiss Ratings upgraded shares of SBC Medical Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 9th. Finally, Wall Street Zen raised shares of SBC Medical Group from a “buy” rating to a “strong-buy” rating in a report on Monday, October 5th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $8.50.

SBC Medical Group Stock Performance

The stock has a market capitalization of $537.91 million, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 2.39 and a beta of 0.56. The firm has a fifty day moving average of $4.40 and a 200 day moving average of $3.71. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.31 and a quick ratio of 3.27.

SBC Medical Group (NASDAQ:SBC) last announced its quarterly 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 net margin of 27.99% and a return on equity of 18.47%. The company had revenue of $49.19 million for the quarter, compared to analysts’ expectations of $45.37 million. On average, sell-side analysts anticipate that SBC Medical Group Holdings Incorporated will post 0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SBC Medical Group

Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp acquired a new stake in SBC Medical Group during the first quarter valued at $43,000. Bank of America Corp DE purchased a new position in SBC Medical Group in the second quarter valued at $35,000. Williams & Novak LLC increased its holdings in SBC Medical Group by 31.2% in the second quarter. Williams & Novak LLC now owns 18,686 shares of the company’s stock valued at $58,000 after buying an additional 4,449 shares in the last quarter. Deutsche Bank AG purchased a new position in SBC Medical Group in the second quarter valued at $58,000. Finally, Two Sigma Securities LLC acquired a new position in shares of SBC Medical Group in the second quarter worth about $66,000. 60.82% of the stock is owned by hedge funds and other institutional investors.

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.