$451.34 Million in Sales Expected for Surgery Partners Inc (NASDAQ:SGRY) This Quarter

Equities research analysts expect Surgery Partners Inc (NASDAQ:SGRY) to announce sales of $451.34 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Surgery Partners’ earnings, with the highest sales estimate coming in at $458.28 million and the lowest estimate coming in at $445.40 million. Surgery Partners posted sales of $443.93 million in the same quarter last year, which suggests a positive year over year growth rate of 1.7%. The company is expected to announce its next earnings report on Wednesday, November 6th.

According to Zacks, analysts expect that Surgery Partners will report full year sales of $1.82 billion for the current financial year, with estimates ranging from $1.81 billion to $1.83 billion. For the next year, analysts expect that the company will post sales of $1.92 billion, with estimates ranging from $1.90 billion to $1.95 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Surgery Partners.

Surgery Partners (NASDAQ:SGRY) last released its earnings results on Wednesday, August 7th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.13). The company had revenue of $445.40 million during the quarter, compared to analysts’ expectations of $450.89 million. Surgery Partners had a negative return on equity of 4.65% and a negative net margin of 11.61%. The company’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.57) earnings per share.

SGRY has been the subject of a number of analyst reports. BidaskClub upgraded Surgery Partners from a “strong sell” rating to a “sell” rating in a research report on Saturday. ValuEngine upgraded Surgery Partners from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research cut Surgery Partners from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Finally, Stifel Nicolaus set a $12.00 price target on Surgery Partners and gave the company a “hold” rating in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Surgery Partners has an average rating of “Hold” and an average price target of $14.33.

SGRY traded down $0.09 during midday trading on Friday, reaching $6.17. The company had a trading volume of 356,988 shares, compared to its average volume of 435,755. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 2.29. The business has a 50-day moving average of $7.01 and a two-hundred day moving average of $9.95. The company has a market cap of $301.81 million, a P/E ratio of -2.52 and a beta of 2.27. Surgery Partners has a 1 year low of $5.38 and a 1 year high of $18.50.

In other news, COO Jason Eric Evans bought 25,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was acquired at an average cost of $5.95 per share, with a total value of $148,750.00. Following the transaction, the chief operating officer now directly owns 111,655 shares in the company, valued at approximately $664,347.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of SGRY. Royal Bank of Canada grew its stake in Surgery Partners by 64.3% during the 2nd quarter. Royal Bank of Canada now owns 5,750 shares of the company’s stock worth $47,000 after buying an additional 2,250 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in Surgery Partners during the 1st quarter worth approximately $50,000. Tower Research Capital LLC TRC purchased a new stake in Surgery Partners during the 2nd quarter worth approximately $57,000. Metropolitan Life Insurance Co. NY increased its stake in Surgery Partners by 351.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,766 shares of the company’s stock worth $66,000 after buying an additional 5,267 shares in the last quarter. Finally, Menta Capital LLC purchased a new stake in shares of Surgery Partners in the second quarter valued at approximately $107,000. 92.06% of the stock is owned by institutional investors and hedge funds.

About Surgery Partners

Surgery Partners, Inc, through its subsidiaries, owns and operates a network of surgical facilities and related services 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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