Surgery Partners (SGRY) Rating Lowered to Hold at BidaskClub

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Surgery Partners (NASDAQ:SGRY) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

SGRY has been the subject of a number of other reports. Leerink Swann upped their target price on Surgery Partners from $20.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, August 13th. Zacks Investment Research upgraded Surgery Partners from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Thursday, August 16th. ValuEngine upgraded Surgery Partners from a “sell” rating to a “hold” rating in a research report on Thursday, June 21st. Royal Bank of Canada upped their target price on Surgery Partners from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, August 10th. Finally, Stifel Nicolaus upgraded Surgery Partners from a “sell” rating to a “hold” rating and set a $15.00 target price for the company in a research report on Thursday, June 28th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $19.43.

NASDAQ:SGRY opened at $15.90 on Wednesday. The firm has a market cap of $792.21 million, a PE ratio of -18.93 and a beta of 1.89. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 1.69. Surgery Partners has a fifty-two week low of $7.10 and a fifty-two week high of $19.95.

Surgery Partners (NASDAQ:SGRY) last released its earnings results on Thursday, August 9th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.07. The firm had revenue of $444.78 million during the quarter, compared to the consensus estimate of $428.50 million. Surgery Partners had a negative return on equity of 1.67% and a negative net margin of 5.56%. The company’s revenue was up 54.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.09) EPS. research analysts expect that Surgery Partners will post -0.49 earnings per share for the current year.

In related news, insider Brandan Lingle sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $18.15, for a total transaction of $181,500.00. Following the completion of the sale, the insider now directly owns 20,393 shares in the company, valued at approximately $370,132.95. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 8.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. US Bancorp DE lifted its position in shares of Surgery Partners by 76.6% during the 2nd quarter. US Bancorp DE now owns 7,328 shares of the company’s stock worth $109,000 after buying an additional 3,179 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Surgery Partners by 3.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 102,669 shares of the company’s stock worth $1,530,000 after buying an additional 3,336 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Surgery Partners by 8.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 93,771 shares of the company’s stock worth $1,397,000 after buying an additional 7,332 shares during the last quarter. MetLife Investment Advisors LLC bought a new stake in shares of Surgery Partners during the 1st quarter worth $164,000. Finally, Bank of Montreal Can bought a new stake in shares of Surgery Partners during the 2nd quarter worth $149,000. Institutional investors and hedge funds own 97.53% of the company’s stock.

About Surgery Partners

Surgery Partners, Inc, through its subsidiaries, operates surgical facilities 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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