Surgery Partners Inc. (SGRY) Downgraded to “Sell” at Zacks Investment Research
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 equities analysts have also recently commented on the company. Jefferies Group restated a buy rating and set a $27.00 target price on shares of Surgery Partners in a research report on Wednesday, August 10th. Barclays PLC assumed coverage on Surgery Partners in a research report on Wednesday, July 13th. They set an equal weight rating and a $20.00 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Surgery Partners presently has an average rating of Buy and an average price target of $22.44.
Shares of Surgery Partners (NASDAQ:SGRY) traded down 0.05% during trading on Wednesday, hitting $20.06. The stock had a trading volume of 10,037 shares. The firm has a 50-day moving average price of $19.39 and a 200 day moving average price of $16.73. The company has a market capitalization of $973.51 million and a PE ratio of 108.43. Surgery Partners has a 52 week low of $11.76 and a 52 week high of $22.32.
Surgery Partners (NASDAQ:SGRY) last posted its earnings results on Tuesday, August 9th. The company reported $0.16 EPS for the quarter, topping 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 earned $289.70 million during the quarter, compared to analysts’ expectations of $275.99 million. The firm’s revenue was up 24.4% on a year-over-year basis. Equities analysts anticipate that Surgery Partners will post $0.63 earnings per share for the current year.
In other news, VP Jennifer Baldock sold 2,500 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $19.20, for a total value of $48,000.00. Following the completion of the transaction, the vice president now owns 66,983 shares of the company’s stock, valued at approximately $1,286,073.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.10% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the company. Neuberger Berman Group LLC bought a new stake in Surgery Partners during the second quarter valued at $19,143,000. TimesSquare Capital Management LLC increased its stake in Surgery Partners by 55.7% in the first quarter. TimesSquare Capital Management LLC now owns 1,975,000 shares of the company’s stock valued at $26,189,000 after buying an additional 706,300 shares during the last quarter. Cortina Asset Management LLC bought a new stake in Surgery Partners during the second quarter valued at $12,327,000. Vaughan Nelson Investment Management L.P. increased its stake in Surgery Partners by 24.6% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,752,850 shares of the company’s stock valued at $49,276,000 after buying an additional 543,100 shares during the last quarter. Finally, Stonerise Capital Management LLC bought a new stake in Surgery Partners during the first quarter valued at $5,304,000. Institutional investors own 38.32% of the company’s stock.
About Surgery Partners
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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