Surgery Partners (NASDAQ:SGRY) was upgraded by equities research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.
Several other analysts also recently weighed in on SGRY. BidaskClub downgraded Surgery Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Zacks Investment Research upgraded Surgery Partners from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Wednesday, October 10th. Finally, Royal Bank of Canada upped their price target on Surgery Partners from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, August 10th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $18.83.
Shares of Surgery Partners stock remained flat at $$14.40 during midday trading on Thursday. The company had a trading volume of 310,235 shares, compared to its average volume of 372,903. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.59 and a quick ratio of 1.44. The stock has a market cap of $664.58 million, a P/E ratio of -17.14 and a beta of 2.02. Surgery Partners has a 52 week low of $7.55 and a 52 week high of $19.95.
Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Thursday, August 9th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.07. The company had revenue of $444.78 million for the quarter, compared to the consensus estimate of $428.50 million. Surgery Partners had a negative return on equity of 1.67% and a negative net margin of 5.56%. The firm’s quarterly revenue was up 54.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.09) EPS. Research analysts predict that Surgery Partners will post -0.48 earnings per share for the current fiscal year.
In related news, insider Brandan Lingle sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $18.15, for a total value of $181,500.00. Following the sale, the insider now owns 20,393 shares in the company, valued at approximately $370,132.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. US Bancorp DE boosted its stake in Surgery Partners by 76.6% during the 2nd quarter. US Bancorp DE now owns 7,328 shares of the company’s stock valued at $109,000 after purchasing an additional 3,179 shares during the last quarter. Bank of Montreal Can purchased a new stake in Surgery Partners during the 2nd quarter valued at $149,000. Raymond James & Associates purchased a new stake in Surgery Partners during the 2nd quarter valued at $185,000. Cubist Systematic Strategies LLC purchased a new stake in Surgery Partners during the 2nd quarter valued at $221,000. Finally, Engineers Gate Manager LP purchased a new stake in Surgery Partners during the 2nd quarter valued at $281,000. Institutional investors and hedge funds own 97.68% of the company’s stock.
Surgery Partners Company Profile
Surgery Partners, Inc, through its subsidiaries, operates surgical facilities in the United States. The company operates through three segments: Surgical Facility Services, Ancillary Services, and Optical Services. Its surgical facilities comprise ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including gastroenterology, general surgery, ophthalmology, orthopedics, and pain management.
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