SBC Medical Group (NASDAQ:SBC) Sets New 1-Year High on Strong Earnings

SBC Medical Group Holdings Incorporated (NASDAQ:SBC)’s stock price reached a new 52-week high during trading 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 changing hands. 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 net margin of 27.99% and a return on equity of 18.47%. The firm had revenue of $58.58 million for the quarter, compared to analyst estimates of $48.90 million.

Analyst Upgrades and Downgrades

SBC has been the topic of a number of research reports. BTIG Research reaffirmed a “buy” rating and issued a $8.00 price target on shares of SBC Medical Group in a research note on Thursday, August 13th. Wall Street Zen raised SBC Medical Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 5th. Finally, Weiss Ratings raised SBC Medical Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 9th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, SBC Medical Group has a consensus rating of “Moderate Buy” and an average price target of $8.00.

Institutional Investors Weigh In On SBC Medical Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE bought a new stake in SBC Medical Group during the 2nd quarter valued at approximately $35,000. Nisa Investment Advisors LLC bought a new position in shares of SBC Medical Group during the third quarter valued at $36,000. Bank of New York Mellon Corp acquired a new position in SBC Medical Group in the first quarter valued at about $43,000. Deutsche Bank AG bought a new stake in SBC Medical Group during the 2nd quarter worth approximately $58,000. Finally, Williams & Novak LLC increased its stake in shares of 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. 60.82% of the stock is currently owned by institutional investors and hedge funds.

SBC Medical Group Stock 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 firm’s 50-day simple moving average is $5.07 and its two-hundred day simple moving average is $3.96. The stock has a market cap of $705.86 million, a price-to-earnings 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.