Zacks Investment Research Upgrades Surgery Partners (NASDAQ:SGRY) to Hold

Zacks Investment Research upgraded shares of Surgery Partners (NASDAQ:SGRY) from a sell rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Surgery Partners, Inc. is a healthcare services company. The Company’s outpatient delivery model focused on providing solutions for surgical and related ancillary care in support of its patients and physicians. Its operating segment consists of Surgical Facility Services segment, Ancillary Services segment and Optical Services segment. Surgery Partners, Inc. is based in Nashville, Tennessee. “

Several other equities research analysts also recently weighed in on SGRY. BidaskClub downgraded shares of Surgery Partners from a hold rating to a sell rating in a research report on Tuesday, October 8th. ValuEngine raised shares of Surgery Partners from a hold rating to a buy rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have issued 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 up $0.27 during midday trading on Wednesday, hitting $7.36. The company had a trading volume of 147,960 shares, compared to its average volume of 310,739. The company’s 50 day moving average price is $7.12 and its 200 day moving average price is $8.56. The stock has a market cap of $350.79 million, a price-to-earnings ratio of -3.00 and a beta of 2.34. Surgery Partners has a 52 week low of $5.38 and a 52 week high of $15.66. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 2.29.

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

In other Surgery Partners news, COO Jason Eric Evans acquired 25,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was acquired at an average price 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 $664,347.25. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 2.30% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its position in shares of Surgery Partners by 25.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 117,007 shares of the company’s stock valued at $953,000 after buying an additional 23,890 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Surgery Partners during the 2nd quarter valued at about $1,001,000. Dimension Capital Management LLC bought a new position in Surgery Partners in the 2nd quarter worth about $635,000. AMI Asset Management Corp grew its position in Surgery Partners by 25.3% in the 2nd quarter. AMI Asset Management Corp now owns 933,861 shares of the company’s stock worth $7,601,000 after purchasing an additional 188,585 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in Surgery Partners by 3.9% in the 1st quarter. Clearbridge Investments LLC now owns 3,667,811 shares of the company’s stock worth $41,373,000 after purchasing an additional 138,158 shares during the last quarter. 96.32% 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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