Surgery Partners Inc (SGRY) Expected to Post Quarterly Sales of $436.63 Million

Equities analysts predict that Surgery Partners Inc (NASDAQ:SGRY) will post sales of $436.63 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Surgery Partners’ earnings, with the highest sales estimate coming in at $471.70 million and the lowest estimate coming in at $410.17 million. Surgery Partners reported sales of $306.00 million during the same quarter last year, which indicates a positive year-over-year growth rate of 42.7%. The business is scheduled to issue its next quarterly earnings results on Thursday, March 8th.

On average, analysts expect that Surgery Partners will report full year sales of $436.63 million for the current financial year, with estimates ranging from $1.29 billion to $1.35 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.80 billion per share, with estimates ranging from $1.75 billion to $1.90 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Surgery Partners.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings data on Wednesday, November 8th. The company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.07. Surgery Partners had a positive return on equity of 1.03% and a negative net margin of 0.33%.

SGRY has been the topic of several research analyst reports. KeyCorp reaffirmed a “hold” rating on shares of Surgery Partners in a research report on Friday, September 22nd. Zacks Investment Research downgraded Surgery Partners from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 4th. ValuEngine downgraded Surgery Partners from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Bank of America downgraded Surgery Partners from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research report on Wednesday, November 1st. Finally, BidaskClub raised Surgery Partners from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Surgery Partners currently has a consensus rating of “Hold” and an average price target of $18.57.

Shares of Surgery Partners (NASDAQ:SGRY) traded down $0.80 during trading on Friday, reaching $14.90. The company’s stock had a trading volume of 662,266 shares, compared to its average volume of 405,865. The company has a market cap of $765.68, a P/E ratio of -32.39 and a beta of 1.88. The company has a quick ratio of 1.92, a current ratio of 2.09 and a debt-to-equity ratio of 1.56. Surgery Partners has a 12 month low of $7.10 and a 12 month high of $24.05.

Surgery Partners declared that its board has initiated a share repurchase program on Friday, December 15th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Several institutional investors and hedge funds have recently bought and sold shares of SGRY. Voya Investment Management LLC purchased a new stake in shares of Surgery Partners during the 2nd quarter worth $222,000. Royal Bank of Canada lifted its stake in shares of Surgery Partners by 680.5% during the 2nd quarter. Royal Bank of Canada now owns 10,544 shares of the company’s stock worth $240,000 after purchasing an additional 9,193 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Surgery Partners by 211.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 11,915 shares of the company’s stock worth $271,000 after purchasing an additional 8,089 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Surgery Partners during the 3rd quarter worth $129,000. Finally, Round Table Services LLC purchased a new stake in shares of Surgery Partners during the 3rd quarter worth $138,000. 94.16% of the stock is currently owned by institutional investors and hedge funds.

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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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