Zacks Investment Research cut shares of Surgery Partners (NASDAQ:SGRY) from a hold rating to a sell rating in a report published on Tuesday.
According to Zacks, “Surgery Partners, Inc. is a healthcare services company. The Company’s outpatient delivery model focused on providing solutions for surgical and related ancillary care in support of its patients and physicians. Its operating segment consists of Surgical Facility Services segment, Ancillary Services segment and Optical Services segment. Surgery Partners, Inc. is based in Nashville, Tennessee. “
Several other analysts also recently issued reports on SGRY. Benchmark set a $19.00 price target on Surgery Partners and gave the company a buy rating in a research note on Tuesday, January 30th. ValuEngine downgraded Surgery Partners from a hold rating to a sell rating in a research report on Friday, February 2nd. Jefferies Group cut their target price on Surgery Partners from $16.00 to $13.00 and set a buy rating for the company in a research report on Wednesday, November 1st. BidaskClub upgraded Surgery Partners from a sell rating to a hold rating in a research report on Wednesday, December 27th. Finally, KeyCorp reiterated a hold rating on shares of Surgery Partners in a research report on Tuesday, October 31st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $17.86.
Shares of Surgery Partners (NASDAQ:SGRY) opened at $14.80 on Tuesday. The stock has a market capitalization of $724.22 and a price-to-earnings ratio of -162.33. Surgery Partners has a one year low of $7.10 and a one year high of $24.05. The company has a quick ratio of 1.92, a current ratio of 2.09 and a debt-to-equity ratio of 1.56.
Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings results on Wednesday, November 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.07. Surgery Partners had a positive return on equity of 1.03% and a negative net margin of 0.33%. equities analysts predict that Surgery Partners will post -0.16 earnings per share for the current fiscal year.
Surgery Partners announced that its board has authorized a share repurchase plan on Friday, December 15th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.
Several large investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. raised its holdings in shares of Surgery Partners by 1.1% during the 2nd quarter. Alliancebernstein L.P. now owns 28,400 shares of the company’s stock worth $646,000 after buying an additional 300 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Surgery Partners by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 229,575 shares of the company’s stock worth $5,223,000 after buying an additional 605 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Surgery Partners by 16.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 13,716 shares of the company’s stock worth $312,000 after buying an additional 1,963 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Surgery Partners by 0.5% during the 4th quarter. BlackRock Inc. now owns 1,306,021 shares of the company’s stock worth $15,804,000 after buying an additional 7,029 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Surgery Partners by 680.5% during the 2nd quarter. Royal Bank of Canada now owns 10,544 shares of the company’s stock worth $240,000 after buying an additional 9,193 shares in the last quarter. Hedge funds and other institutional investors own 94.03% of the company’s stock.
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Surgery Partners Company Profile
Surgery Partners, Inc is a healthcare services company. The Company operates in three lines of business across the United States: Surgical Facility Services, Ancillary Services and Optical Services. The Company’s Surgical Facility Services segment consists of the operation of ambulatory surgery centers (ASCs) and surgical hospitals, which include its anesthesia services.
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