Surgery Partners (NASDAQ:SGRY) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of Surgery Partners (NASDAQ:SGRY) from a sell rating to a hold rating in a research note released on Thursday, BidAskClub reports.

SGRY has been the topic of several other reports. ValuEngine upgraded shares of Surgery Partners from a sell rating to a hold rating in a report on Thursday, August 1st. Zacks Investment Research lowered shares of Surgery Partners from a hold rating to a sell rating in a report on Saturday, August 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $14.33.

Shares of SGRY traded down $0.79 during mid-day trading on Thursday, hitting $8.10. 307,532 shares of the company traded hands, compared to its average volume of 341,995. Surgery Partners has a one year low of $5.38 and a one year high of $17.25. The company has a current ratio of 1.43, a quick ratio of 1.32 and a debt-to-equity ratio of 2.29. The business has a 50-day moving average of $6.62 and a 200 day moving average of $9.32. The stock has a market capitalization of $439.88 million, a price-to-earnings ratio of -3.31 and a beta of 2.32.



Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.13). Surgery Partners had a negative net margin of 11.61% and a negative return on equity of 4.65%. The company had revenue of $445.40 million for the quarter, compared to the consensus estimate of $450.89 million. During the same period last year, the company earned ($0.57) earnings per share. Surgery Partners’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, analysts anticipate that Surgery Partners will post -0.97 earnings per share for the current year.

In other Surgery Partners news, COO Jason Eric Evans acquired 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were acquired at an average cost of $5.95 per share, for a total transaction of $148,750.00. Following the completion of the acquisition, the chief operating officer now directly owns 111,655 shares of the company’s stock, valued at approximately $664,347.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG raised its holdings in Surgery Partners by 44.5% in the fourth quarter. Deutsche Bank AG now owns 56,300 shares of the company’s stock worth $550,000 after purchasing an additional 17,330 shares during the period. Royce & Associates LP raised its holdings in Surgery Partners by 1.2% in the first quarter. Royce & Associates LP now owns 1,058,381 shares of the company’s stock worth $11,939,000 after purchasing an additional 12,500 shares during the period. Pictet Asset Management Ltd. raised its holdings in Surgery Partners by 11.4% in the first quarter. Pictet Asset Management Ltd. now owns 676,785 shares of the company’s stock worth $7,634,000 after purchasing an additional 69,293 shares during the period. Elk Creek Partners LLC raised its holdings in Surgery Partners by 5.3% in the first quarter. Elk Creek Partners LLC now owns 1,373,263 shares of the company’s stock worth $15,490,000 after purchasing an additional 69,669 shares during the period. Finally, WCM Investment Management LLC acquired a new stake in Surgery Partners in the first quarter worth $717,000. Institutional investors and hedge funds own 96.32% of the company’s stock.

Surgery Partners Company Profile

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.

Further Reading: What Factors Can Affect Return on Equity?

Receive News & Ratings for Surgery Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Surgery Partners and related companies with MarketBeat.com's FREE daily email newsletter.