Analysts Expect Surgery Partners Inc (SGRY) Will Announce Earnings of -$0.08 Per Share

Analysts expect that Surgery Partners Inc (NASDAQ:SGRY) will post ($0.08) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Surgery Partners’ earnings, with the lowest EPS estimate coming in at ($0.17) and the highest estimate coming in at $0.01. Surgery Partners posted earnings of ($0.02) per share during the same quarter last year, which would indicate a negative year over year growth rate of 300%. The company is scheduled to announce its next quarterly earnings results on Wednesday, November 14th.

According to Zacks, analysts expect that Surgery Partners will report full year earnings of ($0.20) per share for the current year, with EPS estimates ranging from ($0.27) to ($0.11). For the next year, analysts anticipate that the company will post earnings of $0.21 per share, with EPS estimates ranging from ($0.09) to $0.47. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Surgery Partners.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings data on Thursday, August 9th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.07. The business had revenue of $444.78 million for the quarter, compared to the consensus estimate of $428.50 million. Surgery Partners had a negative net margin of 5.56% and a negative return on equity of 1.67%. The business’s revenue for the quarter was up 54.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.09) EPS.



Several analysts have recently commented on the stock. BidaskClub raised shares of Surgery Partners from a “hold” rating to a “buy” rating in a report on Tuesday, August 14th. Zacks Investment Research downgraded shares of Surgery Partners from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. ValuEngine raised shares of Surgery Partners from a “sell” rating to a “hold” rating in a report on Thursday, June 21st. Finally, Leerink Swann assumed coverage on shares of Surgery Partners in a report on Tuesday, August 7th. They issued an “outperform” rating and a $20.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $19.43.

In other news, insider Brandan Lingle sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $18.15, for a total value of $181,500.00. Following the sale, the insider now directly owns 20,393 shares of the company’s stock, valued at approximately $370,132.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.20% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in SGRY. Redmile Group LLC purchased a new stake in Surgery Partners during the second quarter worth $9,257,000. Point72 Asset Management L.P. purchased a new stake in Surgery Partners during the first quarter worth $6,097,000. NN Investment Partners Holdings N.V. boosted its holdings in Surgery Partners by 4.8% during the second quarter. NN Investment Partners Holdings N.V. now owns 5,523,801 shares of the company’s stock worth $82,305,000 after buying an additional 250,704 shares in the last quarter. Highland Capital Management LP boosted its holdings in Surgery Partners by 171.3% during the second quarter. Highland Capital Management LP now owns 323,700 shares of the company’s stock worth $4,823,000 after buying an additional 204,400 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in Surgery Partners by 2,564.5% during the first quarter. BNP Paribas Arbitrage SA now owns 104,021 shares of the company’s stock worth $1,784,000 after buying an additional 100,117 shares in the last quarter. 97.53% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SGRY stock traded up $0.50 during trading hours on Friday, hitting $16.20. The company’s stock had a trading volume of 6,560 shares, compared to its average volume of 263,251. The company has a market capitalization of $762.87 million, a P/E ratio of -18.62 and a beta of 1.89. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.59 and a quick ratio of 1.44. Surgery Partners has a 12-month low of $7.10 and a 12-month high of $19.95.

About Surgery Partners

Surgery Partners, Inc, through its subsidiaries, operates surgical facilities in the United States. The company operates through three segments: Surgical Facility Services, Ancillary Services, and Optical Services. Its surgical facilities comprise ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including gastroenterology, general surgery, ophthalmology, orthopedics, and pain management.

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