Zacks Investment Research upgraded shares of Surgery Partners (NASDAQ:SGRY) from a sell rating to a hold rating in a research report report published on Friday morning.
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 weighed in on SGRY. BidaskClub upgraded Surgery Partners from a strong sell rating to a sell rating in a research note on Tuesday, December 12th. ValuEngine downgraded Surgery Partners from a hold rating to a sell rating in a research note on Sunday, December 31st. Benchmark set a $19.00 target price on Surgery Partners and gave the company a buy rating in a research note on Tuesday, January 30th. Finally, Jefferies Group set a $18.00 target price on Surgery Partners and gave the company a buy rating in a research note on Thursday, March 1st. Two equities research 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 stock. Surgery Partners presently has an average rating of Hold and a consensus target price of $18.57.
Shares of Surgery Partners stock traded down $0.25 during trading hours on Friday, hitting $17.70. 336,005 shares of the company’s stock traded hands, compared to its average volume of 245,366. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.71 and a current ratio of 1.86. Surgery Partners has a twelve month low of $7.10 and a twelve month 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 for the quarter, missing the consensus estimate of $0.08 by ($0.11). The business had revenue of $460.30 million for the quarter, compared to analyst estimates of $438.30 million. Surgery Partners had a negative net margin of 4.54% and a negative return on equity of 0.53%. The firm’s revenue was up 50.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share. analysts predict that Surgery Partners will post -0.31 EPS for the current fiscal year.
Surgery Partners declared that its Board of Directors has approved a stock repurchase program on Friday, December 15th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Hedge funds have recently modified their holdings of the company. Citadel Advisors LLC bought a new position in shares of Surgery Partners during the third quarter worth about $129,000. We Are One Seven LLC bought a new position in shares of Surgery Partners during the fourth quarter worth about $138,000. BlueCrest Capital Management Ltd bought a new position in shares of Surgery Partners during the fourth quarter worth about $157,000. Aperio Group LLC bought a new position in shares of Surgery Partners during the fourth quarter worth about $173,000. Finally, Sterling Capital Management LLC bought a new position in shares of Surgery Partners during the third quarter worth about $210,000.
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Surgery Partners Company Profile
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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