Surgery Partners (NASDAQ:SGRY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, February 20th.
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. “
A number of other equities analysts also recently issued reports on the company. ValuEngine downgraded Surgery Partners from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Royal Bank of Canada reissued a “buy” rating and set a $18.00 price target on shares of Surgery Partners in a research report on Sunday, November 12th. Bank of America downgraded Surgery Partners from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research report on Wednesday, November 1st. BidaskClub raised Surgery Partners from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 12th. Finally, KeyCorp reissued a “hold” rating on shares of Surgery Partners in a research report on Tuesday, October 31st. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Surgery Partners has an average rating of “Hold” and an average target price of $18.57.
Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Thursday, March 1st. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). Surgery Partners had a negative return on equity of 0.67% and a negative net margin of 4.54%. The firm had revenue of $460.30 million for the quarter, compared to the consensus estimate of $438.30 million. During the same period in the previous year, the company posted $0.35 EPS. Surgery Partners’s quarterly revenue was up 50.4% compared to the same quarter last year. equities research analysts forecast that Surgery Partners will post -0.31 earnings per share for the current fiscal year.
Surgery Partners announced that its Board of Directors has authorized a share repurchase plan on Friday, December 15th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
Hedge funds have recently modified their holdings of the stock. Bain Capital Investors LLC bought a new stake in Surgery Partners during the third quarter valued at about $273,816,000. Arrowstreet Capital Limited Partnership bought a new stake in Surgery Partners during the second quarter valued at about $306,000. Phoenix Investment Adviser LLC bought a new stake in Surgery Partners during the third quarter valued at about $744,000. Vanguard Group Inc. boosted its position in Surgery Partners by 5.6% during the second quarter. Vanguard Group Inc. now owns 1,595,966 shares of the company’s stock valued at $36,309,000 after purchasing an additional 85,148 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Surgery Partners by 36.0% during the second quarter. Northern Trust Corp now owns 307,738 shares of the company’s stock valued at $7,001,000 after purchasing an additional 81,468 shares in the last quarter.
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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