Zacks Investment Research Downgrades Surgery Partners Inc. (SGRY) to Hold
Surgery Partners Inc. (NASDAQ:SGRY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
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. “
Separately, Jefferies Group reiterated a “buy” rating and issued a $24.00 price target (down from $27.00) on shares of Surgery Partners in a research report on Thursday, November 10th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Surgery Partners presently has an average rating of “Buy” and a consensus price target of $21.14.
Surgery Partners (NASDAQ:SGRY) opened at 15.95 on Tuesday. The firm has a market cap of $765.90 million and a P/E ratio of 82.22. The firm has a 50 day moving average of $18.20 and a 200 day moving average of $17.27. Surgery Partners has a 1-year low of $11.76 and a 1-year high of $22.32.
Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings results on Wednesday, November 9th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.14 by $0.07. The business had revenue of $282.70 million for the quarter, compared to analyst estimates of $283.80 million. Surgery Partners had a net margin of 2.60% and a return on equity of 17.09%. The company’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 earnings per share. On average, equities research analysts expect that Surgery Partners will post $0.66 EPS for the current year.
In related news, VP Jennifer Baldock sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The shares were 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 $1,286,073.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 7.10% of the company’s stock.
A number of institutional investors have recently bought and sold shares of SGRY. Vaughan Nelson Investment Management L.P. increased its position 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 worth $49,276,000 after buying an additional 543,100 shares in the last quarter. TimesSquare Capital Management LLC increased its position in Surgery Partners by 1.0% in the second quarter. TimesSquare Capital Management LLC now owns 1,995,000 shares of the company’s stock worth $35,711,000 after buying an additional 20,000 shares in the last quarter. Neuberger Berman Group LLC increased its position in Surgery Partners by 44.9% in the third quarter. Neuberger Berman Group LLC now owns 1,549,750 shares of the company’s stock worth $31,367,000 after buying an additional 480,316 shares in the last quarter. Vanguard Group Inc. increased its position in Surgery Partners by 18.4% in the second quarter. Vanguard Group Inc. now owns 1,310,232 shares of the company’s stock worth $23,453,000 after buying an additional 203,651 shares in the last quarter. Finally, Peregrine Capital Management LLC bought a new position in Surgery Partners during the third quarter worth $21,701,000. 38.34% of the stock is currently owned by institutional investors.
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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