Surgery Partners (NASDAQ:SGRY) Announces Earnings Results

Surgery Partners (NASDAQ:SGRY) issued its earnings results on Monday. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04, FiscalAI reports. The business had revenue of $848.90 million during the quarter, compared to analyst estimates of $830.03 million. Surgery Partners had a positive return on equity of 1.04% and a negative net margin of 2.28%.

Surgery Partners Stock Performance

Shares of Surgery Partners stock opened at $15.53 on Monday. The company’s fifty day simple moving average is $15.43 and its 200-day simple moving average is $14.43. The stock has a market capitalization of $2.03 billion, a PE ratio of -25.88, a P/E/G ratio of 4.64 and a beta of 1.92. Surgery Partners has a 1-year low of $11.41 and a 1-year high of $24.10. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.86 and a quick ratio of 1.69.

Analyst Upgrades and Downgrades

SGRY has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Surgery Partners in a research note on Tuesday, May 26th. Zacks Research upgraded shares of Surgery Partners from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 4th. Finally, Jefferies Financial Group restated a “buy” rating and set a $17.00 price objective on shares of Surgery Partners in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Surgery Partners has an average rating of “Moderate Buy” and an average target price of $21.60.

Hedge Funds Weigh In On Surgery Partners

Institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its position in Surgery Partners by 3.8% during the fourth quarter. Janus Henderson Group PLC now owns 13,537,984 shares of the company’s stock valued at $209,162,000 after purchasing an additional 501,401 shares in the last quarter. Pentwater Capital Management LP grew its holdings in Surgery Partners by 66.9% during the third quarter. Pentwater Capital Management LP now owns 11,681,000 shares of the company’s stock valued at $252,777,000 after purchasing an additional 4,681,000 shares during the period. Dimensional Fund Advisors LP increased its position in Surgery Partners by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,906,580 shares of the company’s stock worth $75,808,000 after buying an additional 46,365 shares in the last quarter. UBS Group AG increased its position in Surgery Partners by 50.6% in the third quarter. UBS Group AG now owns 3,690,922 shares of the company’s stock worth $79,872,000 after buying an additional 1,239,549 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Surgery Partners by 528.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,959,686 shares of the company’s stock worth $30,277,000 after buying an additional 1,647,714 shares during the period.

About Surgery Partners

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.