Surgery Partners Inc. (NASDAQ:SGRY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
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. “
Other equities research analysts also recently issued research reports about the stock. Jefferies Group reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Surgery Partners in a report on Wednesday, August 10th. Barclays PLC initiated coverage on shares of Surgery Partners in a report on Wednesday, July 13th. They issued an “equal weight” rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $22.44.
Shares of Surgery Partners (NASDAQ:SGRY) opened at 19.68 on Wednesday. The stock’s 50 day moving average is $19.35 and its 200-day moving average is $16.71. The stock has a market capitalization of $955.07 million and a P/E ratio of 106.38. Surgery Partners has a one year low of $11.76 and a one year high of $22.32.
Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. Surgery Partners had a net margin of 2.63% and a return on equity of 18.80%. The company earned $289.70 million during the quarter, compared to the consensus estimate of $275.99 million. The company’s revenue for the quarter was up 24.4% on a year-over-year basis. On average, equities research analysts expect that Surgery Partners will post $0.63 EPS for the current year.
In other Surgery Partners news, VP Jennifer Baldock sold 2,500 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $19.20, for a total value of $48,000.00. Following the completion of the sale, the vice president now directly owns 66,983 shares of the company’s stock, valued at approximately $1,286,073.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.10% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Acrospire Investment Management LLC increased its stake in shares of Surgery Partners by 914.3% in the second quarter. Acrospire Investment Management LLC now owns 7,100 shares of the company’s stock worth $127,000 after buying an additional 6,400 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Surgery Partners by 3.9% in the first quarter. Royal Bank of Canada now owns 9,634 shares of the company’s stock worth $129,000 after buying an additional 366 shares during the last quarter. Bellevue Group AG acquired a new stake in shares of Surgery Partners during the first quarter worth $133,000. Parametric Portfolio Associates LLC acquired a new stake in shares of Surgery Partners during the second quarter worth $181,000. Finally, American International Group Inc. increased its stake in shares of Surgery Partners by 19.7% in the second quarter. American International Group Inc. now owns 10,716 shares of the company’s stock worth $192,000 after buying an additional 1,766 shares during the last quarter. 38.32% of the stock is owned by institutional investors.
Surgery Partners Company Profile
Surgery Partners, Inc is a healthcare services company. The Company operates in three lines of business across the United States: Surgical Facility Services, Ancillary Services and Optical Services. The Company’s Surgical Facility Services segment consists of the operation of ambulatory surgery centers (ASCs) and surgical hospitals, which include its anesthesia services.
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