Surgery Partners (NASDAQ:SGRY) Lowered to Sell at Zacks Investment Research

Surgery Partners (NASDAQ:SGRY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, March 14th.

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. “

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Other analysts have also issued research reports about the stock. ValuEngine lowered shares of Surgery Partners from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Benchmark set a $19.00 price objective on shares of Surgery Partners and gave the company a “buy” rating in a research note on Tuesday, January 30th. BidaskClub raised shares of Surgery Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. Finally, Jefferies Group set a $18.00 price objective on shares of Surgery Partners and gave the company a “buy” rating in a research note on Thursday, March 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Surgery Partners has a consensus rating of “Hold” and an average target price of $18.57.

Surgery Partners stock traded down $0.25 during trading hours on Wednesday, hitting $17.70. The company had a trading volume of 336,005 shares, compared to its average volume of 245,366. The stock has a market cap of $872.58, a P/E ratio of -21.07 and a beta of 1.82. The company has a quick ratio of 1.71, a current ratio of 1.86 and a debt-to-equity ratio of 1.59. Surgery Partners has a one year low of $7.10 and a one year high of $24.05.

Surgery Partners (NASDAQ:SGRY) last announced its earnings results on Thursday, March 1st. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.11). Surgery Partners had a negative return on equity of 0.53% and a negative net margin of 4.54%. The business had revenue of $460.30 million for the quarter, compared to analyst estimates of $438.30 million. During the same quarter in the previous year, the company earned $0.35 EPS. The business’s revenue for the quarter was up 50.4% on a year-over-year basis. equities analysts anticipate that Surgery Partners will post -0.31 earnings per share for the current fiscal year.

Surgery Partners announced that its board has approved a share repurchase program on Friday, December 15th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Large investors have recently bought and sold shares of the business. Voya Investment Management LLC acquired a new stake in Surgery Partners in the second quarter worth $222,000. Royal Bank of Canada grew its holdings in Surgery Partners by 680.5% in the second quarter. Royal Bank of Canada now owns 10,544 shares of the company’s stock worth $240,000 after purchasing an additional 9,193 shares during the period. We Are One Seven LLC acquired a new position in shares of Surgery Partners during the fourth quarter valued at about $138,000. Citadel Advisors LLC acquired a new position in shares of Surgery Partners during the third quarter valued at about $129,000. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of Surgery Partners during the fourth quarter valued at about $157,000.

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About Surgery Partners

Surgery Partners, Inc is healthcare services holding company, which engages in the provision of solutions for surgical and related ancillary care in support of its patients and physicians. It operates through the following business segments: Surgical Facility Services; Ancillary Services; and Optical Services.

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