Key Points
- CEO Yoshiyuki Aikawa sold 4,422,900 shares at an average price of $2.12 for about $9.38 million, cutting his holding by 83.7% to 861,600 shares valued at roughly $1.83 million.
- The stock opened at $3.75 (down ~2.8%), has a market cap of $384.7M and a consensus analyst rating of Hold with a $8.50 consensus price target, though BTIG initiated coverage with a Buy and $8 target; institutional investors own about 60.82% of the shares.
SBC Medical Group Holdings Incorporated (NASDAQ:SBC - Get Free Report) CEO Yoshiyuki Aikawa sold 4,422,900 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $2.12, for a total transaction of $9,376,548.00. Following the completion of the transaction, the chief executive officer owned 861,600 shares of the company's stock, valued at $1,826,592. This represents a 83.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
SBC Medical Group Stock Down 2.8%
Shares of NASDAQ SBC opened at $3.75 on Wednesday. The stock has a market capitalization of $384.68 million, a price-to-earnings ratio of 9.15 and a beta of 1.19. SBC Medical Group Holdings Incorporated has a 52 week low of $2.91 and a 52 week high of $5.75. The firm has a 50-day moving average price of $4.32 and a 200 day moving average price of $4.09. The company has a quick ratio of 5.06, a current ratio of 5.10 and a debt-to-equity ratio of 0.07.
Analysts Set New Price Targets
Several equities research analysts have recently commented on SBC shares. BTIG Research began coverage on SBC Medical Group in a research note on Friday, March 6th. They set a "buy" rating and a $8.00 price target on the stock. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of SBC Medical Group in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $8.50.
Check Out Our Latest Stock Analysis on SBC Medical Group
Hedge Funds Weigh In On SBC Medical Group
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBC. Geode Capital Management LLC acquired a new stake in shares of SBC Medical Group in the second quarter valued at approximately $455,000. Millennium Management LLC acquired a new stake in shares of SBC Medical Group during the third quarter worth $219,000. SBI Securities Co. Ltd. grew its position in shares of SBC Medical Group by 227.3% in the second quarter. SBI Securities Co. Ltd. now owns 54,177 shares of the company's stock valued at $251,000 after purchasing an additional 37,623 shares during the period. New York State Common Retirement Fund acquired a new position in SBC Medical Group in the second quarter valued at $104,000. Finally, Williams & Novak LLC purchased a new position in SBC Medical Group during the fourth quarter worth about $65,000. Institutional investors and hedge funds own 60.82% of the company's stock.
About SBC Medical Group
(
Get Free Report)
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.
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