Surgery Partners Inc. (NASDAQ:SGRY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
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. “
Other equities research analysts have also recently issued research reports about the company. Jefferies Group restated a “buy” rating and issued a $27.00 target price on shares of Surgery Partners in a research note on Wednesday, August 10th. Barclays PLC assumed coverage on Surgery Partners in a research note on Wednesday, July 13th. They issued an “equal weight” rating and a $20.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $22.44.
Shares of Surgery Partners (NASDAQ:SGRY) opened at 20.39 on Wednesday. Surgery Partners has a 52-week low of $11.76 and a 52-week high of $22.32. The stock has a 50 day moving average price of $19.44 and a 200 day moving average price of $16.76. The company has a market capitalization of $989.53 million and a PE ratio of 110.22.
Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.02. Surgery Partners had a return on equity of 18.80% and a net margin of 2.63%. The business had revenue of $289.70 million for the quarter, compared to analysts’ expectations of $275.99 million. The business’s revenue for the quarter was up 24.4% compared to the same quarter last year. On average, analysts predict that Surgery Partners will post $0.63 earnings per share for the current fiscal year.
In other Surgery Partners news, VP Jennifer Baldock sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $19.20, for a total transaction of $48,000.00. Following the transaction, the vice president now owns 66,983 shares of the company’s stock, valued at approximately $1,286,073.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Acrospire Investment Management LLC raised its position in Surgery Partners by 914.3% in the second quarter. Acrospire Investment Management LLC now owns 7,100 shares of the company’s stock valued at $127,000 after buying an additional 6,400 shares during the period. Royal Bank of Canada raised its position in Surgery Partners by 3.9% in the first quarter. Royal Bank of Canada now owns 9,634 shares of the company’s stock valued at $129,000 after buying an additional 366 shares during the period. Bellevue Group AG bought a new position in Surgery Partners during the first quarter valued at $133,000. Parametric Portfolio Associates LLC bought a new position in Surgery Partners during the second quarter valued at $181,000. Finally, American International Group Inc. raised its position in Surgery Partners by 19.7% in the second quarter. American International Group Inc. now owns 10,716 shares of the company’s stock valued at $192,000 after buying an additional 1,766 shares during the period. 38.32% of the stock is currently owned by hedge funds and other institutional investors.
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.