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

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

Other research analysts have also issued research reports about the company. BTIG Research reiterated a “buy” rating and issued a $8.00 price target on shares of SBC Medical Group in a research report on Thursday, August 13th. Weiss Ratings raised SBC Medical Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, September 22nd. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $8.50.

Hedge Funds Weigh In On SBC Medical Group

Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new stake in SBC Medical Group in the 1st quarter worth about $43,000. Bank of America Corp DE purchased a new position in shares of SBC Medical Group during the second quarter valued at approximately $35,000. Williams & Novak LLC grew its stake in shares of SBC Medical Group by 31.2% during 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 during the last quarter. Deutsche Bank AG purchased a new stake in shares of SBC Medical Group in the second quarter worth approximately $58,000. Finally, Two Sigma Securities LLC purchased a new position in SBC Medical Group during the 2nd quarter valued at $66,000. 60.82% of the stock is currently owned by institutional investors.

SBC Medical Group Stock Performance

The firm has a market cap of $549.22 million, a PE ratio of 11.36, a price-to-earnings-growth ratio of 2.29 and a beta of 0.56. The business has a 50 day simple moving average of $4.09 and a two-hundred day simple moving average of $3.63. The company has a quick ratio of 3.27, a current ratio of 3.31 and a debt-to-equity ratio of 0.09.

SBC Medical Group (NASDAQ:SBC) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). SBC Medical Group had a return on equity of 18.47% and a net margin of 27.99%.The company had revenue of $49.19 million during the quarter, compared to the consensus estimate of $45.37 million. As a group, equities research analysts forecast that SBC Medical Group Holdings Incorporated will post 0.44 earnings per share for the current fiscal 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.