Surgalign (NASDAQ:SRGA) Stock Rating Upgraded by Zacks Investment Research

Surgalign (NASDAQ:SRGA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “Surgalign Holdings Inc. is a surgical implant company. Surgalign Holdings Inc., formerly known as RTI Surgical Holdings Inc., is headquartered in Deerfield, Illinois. “

A number of other equities research analysts also recently commented on the company. Piper Sandler lowered their price objective on Surgalign from $3.00 to $2.25 and set an “overweight” rating for the company in a research report on Wednesday, November 10th. Craig Hallum downgraded Surgalign from a “buy” rating to a “hold” rating and set a $1.50 price objective for the company. in a research report on Tuesday, September 28th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $2.79.

NASDAQ SRGA opened at $0.85 on Thursday. Surgalign has a fifty-two week low of $0.69 and a fifty-two week high of $3.27. The stock has a market cap of $117.76 million, a price-to-earnings ratio of -0.52 and a beta of 2.05. The business has a fifty day moving average of $0.80 and a 200-day moving average of $1.05.

Surgalign (NASDAQ:SRGA) last released its quarterly earnings results on Tuesday, November 9th. The company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.03). Surgalign had a negative return on equity of 128.61% and a negative net margin of 146.88%. The company had revenue of $20.55 million during the quarter, compared to analyst estimates of $22.55 million. During the same period last year, the firm earned ($0.11) earnings per share. As a group, analysts forecast that Surgalign will post -0.44 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of SRGA. HighTower Advisors LLC grew its position in Surgalign by 401.7% during the second quarter. HighTower Advisors LLC now owns 303,500 shares of the company’s stock valued at $422,000 after acquiring an additional 243,000 shares during the period. Koss Olinger Consulting LLC grew its position in Surgalign by 37.3% during the second quarter. Koss Olinger Consulting LLC now owns 41,996 shares of the company’s stock valued at $58,000 after acquiring an additional 11,398 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Surgalign by 102.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 491,100 shares of the company’s stock valued at $683,000 after acquiring an additional 248,091 shares during the period. Ergoteles LLC purchased a new stake in Surgalign during the second quarter valued at about $527,000. Finally, Stifel Financial Corp grew its position in Surgalign by 75.9% during the second quarter. Stifel Financial Corp now owns 335,000 shares of the company’s stock valued at $466,000 after acquiring an additional 144,550 shares during the period. 32.36% of the stock is owned by hedge funds and other institutional investors.

Surgalign Company Profile

Surgalign Holdings, Inc is a medical technology company, which engages in designing, developing, and manufacturing biologic metal and synthetic implants. Its products portfolio include cervical fixation, The Streamline (TL) fixation, motion preservation, orthobiologics, cervical inter-body fusion, TL IBF, and SI joint fusion.

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Analyst Recommendations for Surgalign (NASDAQ:SRGA)

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