Wall Street analysts predict that Surgery Partners Inc (NASDAQ:SGRY) will post earnings per share of $0.03 for the current quarter, Zacks reports. Two analysts have made estimates for Surgery Partners’ earnings. The highest EPS estimate is $0.04 and the lowest is $0.01. Surgery Partners reported earnings per share of $0.19 in the same quarter last year, which indicates a negative year-over-year growth rate of 84.2%. The company is expected to issue its next earnings report after the market closes on Thursday, March 1st.
According to Zacks, analysts expect that Surgery Partners will report full year earnings of $0.03 per share for the current financial year, with EPS estimates ranging from $0.01 to $0.05. For the next financial year, analysts forecast that the firm will post earnings of $0.13 per share, with EPS estimates ranging from $0.05 to $0.20. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Surgery Partners.
SGRY has been the subject of a number of analyst reports. BidaskClub raised Surgery Partners from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 12th. Zacks Investment Research raised Surgery Partners from a “sell” rating to a “hold” rating in a research note on Saturday, January 13th. ValuEngine downgraded Surgery Partners from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Bank of America downgraded Surgery Partners from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research note on Wednesday, November 1st. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $18.00 price target on shares of Surgery Partners in a research note on Sunday, November 12th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $17.86.
Surgery Partners (NASDAQ SGRY) opened at $16.05 on Tuesday. The company has a market capitalization of $799.82, a PE ratio of 109.33 and a beta of 2.47. Surgery Partners has a 52 week low of $7.10 and a 52 week high of $24.05. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.09 and a quick ratio of 1.92.
Surgery Partners declared that its Board of Directors has approved a stock buyback program on Friday, December 15th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Hedge funds and other institutional investors have recently modified their holdings of the business. Bain Capital Investors LLC acquired a new position in Surgery Partners during the third quarter worth about $273,816,000. Arrowstreet Capital Limited Partnership acquired a new position in Surgery Partners during the second quarter worth about $306,000. Phoenix Investment Adviser LLC acquired a new position in Surgery Partners during the third quarter worth about $744,000. Vanguard Group Inc. raised its stake in Surgery Partners by 5.6% during the second quarter. Vanguard Group Inc. now owns 1,595,966 shares of the company’s stock worth $36,309,000 after acquiring an additional 85,148 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Surgery Partners by 36.0% during the second quarter. Northern Trust Corp now owns 307,738 shares of the company’s stock worth $7,001,000 after acquiring an additional 81,468 shares in the last quarter. 98.82% of the stock is owned by hedge funds and other institutional investors.
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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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