Brokerages forecast that Surgery Partners, Inc. (NASDAQ:SGRY) will report sales of $309.87 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Surgery Partners’ earnings, with the highest sales estimate coming in at $326.46 million and the lowest estimate coming in at $291.20 million. Surgery Partners reported sales of $282.68 million during the same quarter last year, which indicates a positive year-over-year growth rate of 9.6%. The company is expected to announce its next earnings results on Wednesday, November 8th.
On average, analysts expect that Surgery Partners will report full year sales of $309.87 million for the current fiscal year. For the next year, analysts expect that the business will post sales of $1.81 billion per share, with estimates ranging from $1.79 billion to $1.83 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Surgery Partners.
A number of equities research analysts have recently commented on SGRY shares. BidaskClub raised shares of Surgery Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Zacks Investment Research raised shares of Surgery Partners from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Wednesday, August 2nd. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Surgery Partners in a research note on Wednesday, August 9th. Stifel Nicolaus lowered shares of Surgery Partners from a “hold” rating to a “sell” rating and reduced their price objective for the company from $21.00 to $17.00 in a research note on Wednesday, August 9th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $17.00 price objective (down from $28.00) on shares of Surgery Partners in a research note on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Surgery Partners presently has a consensus rating of “Hold” and a consensus target price of $20.67.
Several large investors have recently bought and sold shares of SGRY. AMI Asset Management Corp raised its stake in Surgery Partners by 26.4% in the second quarter. AMI Asset Management Corp now owns 547,162 shares of the company’s stock worth $12,448,000 after buying an additional 114,288 shares in the last quarter. State Street Corp raised its stake in Surgery Partners by 8.0% in the fourth quarter. State Street Corp now owns 268,021 shares of the company’s stock worth $4,251,000 after buying an additional 19,842 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Surgery Partners by 404.9% in the first quarter. Ameriprise Financial Inc. now owns 228,970 shares of the company’s stock worth $4,465,000 after buying an additional 183,620 shares in the last quarter. Wells Fargo & Company MN raised its stake in Surgery Partners by 26.3% in the first quarter. Wells Fargo & Company MN now owns 397,454 shares of the company’s stock worth $7,750,000 after buying an additional 82,871 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in Surgery Partners by 2.5% in the first quarter. Parametric Portfolio Associates LLC now owns 28,172 shares of the company’s stock worth $549,000 after buying an additional 689 shares in the last quarter. 38.42% of the stock is currently owned by institutional investors.
Shares of Surgery Partners (NASDAQ SGRY) opened at 8.90 on Friday. Surgery Partners has a one year low of $8.70 and a one year high of $24.05. The company has a market cap of $434.42 million, a PE ratio of 58.55 and a beta of 1.71. The company’s 50-day moving average price is $16.70 and its 200 day moving average price is $19.53.
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About Surgery Partners
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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