Surgery Partners (NASDAQ:SGRY) Downgraded by Stonex Financia to “Hold”

Stonex Financia downgraded shares of Surgery Partners (NASDAQ:SGRY) from a strong-buy rating to a hold rating in a report published on Tuesday morning,Zacks reports.

Other analysts also recently issued reports about the company. Benchmark reaffirmed a “buy” rating on shares of Surgery Partners in a research note on Tuesday, August 11th. Weiss Ratings raised shares of Surgery Partners from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 16th. Zacks Research cut shares of Surgery Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Royal Bank Of Canada lowered shares of Surgery Partners from a “moderate buy” rating to a “hold” rating and set a $23.50 price objective for the company. in a report on Monday. Finally, Cantor Fitzgerald cut shares of Surgery Partners from an “overweight” rating to a “hold” rating in a research report on Monday. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $19.91.

Surgery Partners Stock Up 0.5%

NASDAQ:SGRY opened at $23.36 on Tuesday. Surgery Partners has a one year low of $11.41 and a one year high of $23.44. The stock has a 50 day moving average price of $14.57 and a 200 day moving average price of $14.53.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings data on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. The company had revenue of $848.90 million for the quarter, compared to analyst estimates of $830.03 million. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $0.17 EPS. As a group, equities analysts forecast that Surgery Partners will post 0.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Surgery Partners news, Director Teresa DeLuca bought 10,000 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was bought at an average price of $14.35 per share, with a total value of $143,500.00. Following the completion of the purchase, the director directly owned 66,843 shares in the company, valued at $959,197.05. The trade was a 17.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Surgery Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in shares of Surgery Partners in the 2nd quarter valued at $38,000. PNC Financial Services Group Inc. grew its holdings in shares of Surgery Partners by 239.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,907 shares of the company’s stock worth $35,000 after purchasing an additional 2,051 shares during the period. Fifth Third Bancorp grew its holdings in shares of Surgery Partners by 5,324.0% during the 1st quarter. Fifth Third Bancorp now owns 4,068 shares of the company’s stock worth $48,000 after purchasing an additional 3,993 shares during the period. Empowered Funds LLC acquired a new stake in shares of Surgery Partners during the 2nd quarter worth about $216,000. Finally, State of Wyoming acquired a new stake in shares of Surgery Partners during the 2nd quarter worth about $262,000.

Surgery Partners News Summary

Here are the key news stories impacting Surgery Partners this week:

• Positive Sentiment: HealthSpan will pay $23.50 per share, giving investors a clear cash exit and valuing the company at a substantial premium to its pre-announcement trading level. The agreement prompted a surge in SGRY shares and is the primary reason for the stock’s strength. Reuters acquisition article
• Positive Sentiment: The transaction would take Surgery Partners private and involves HealthSpan acquiring a 61.24% stake for roughly $2 billion, potentially reducing the company’s public-market exposure and providing deal certainty if shareholder and regulatory approvals are obtained. MarketScreener stake acquisition article

About Surgery Partners

Surgery Partners, Inc is a U.S.-based healthcare services company that operates and manages ambulatory surgery centers and surgical hospitals. The company works with physicians, health systems and other healthcare providers to deliver outpatient surgical care in facilities designed for same-day procedures.

Its facilities provide surgical services across specialties such as orthopedics, pain management, ophthalmology, gastroenterology, urology, gynecology and general surgery. Surgery Partners also supports its operations with clinical, administrative and revenue-cycle services intended to help physicians and facility partners manage patient care and practice operations.

Founded in 2004 and headquartered in Brentwood, Tennessee, Surgery Partners has expanded its platform through acquisitions, joint ventures and other partnerships.