Surgery Partners (SGRY) Rating Increased to Hold at BidaskClub

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BidaskClub upgraded shares of Surgery Partners (NASDAQ:SGRY) from a sell rating to a hold rating in a report issued on Friday, September 21st.

Several other equities research analysts also recently weighed in on SGRY. Stifel Nicolaus raised 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. ValuEngine raised Surgery Partners from a sell rating to a hold rating in a report on Thursday, June 21st. Zacks Investment Research raised Surgery Partners from a hold rating to a buy rating and set a $20.00 price target for the company in a report on Thursday, August 16th. Royal Bank of Canada increased their price target on Surgery Partners from $18.00 to $20.00 and gave the company an outperform rating in a report on Friday, August 10th. Finally, Leerink Swann started coverage on Surgery Partners in a report on Tuesday, August 7th. They issued an outperform rating and a $20.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $19.00.

NASDAQ:SGRY traded down $0.76 on Friday, hitting $13.70. 645,331 shares of the stock were exchanged, compared to its average volume of 327,746. The firm has a market capitalization of $806.89 million, a PE ratio of -16.31 and a beta of 1.90. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.59 and a quick ratio of 1.44. 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 announced its quarterly earnings results on Thursday, August 9th. The company reported ($0.18) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.07. Surgery Partners had a negative return on equity of 1.67% and a negative net margin of 5.56%. The company had revenue of $444.78 million during the quarter, compared to analyst estimates of $428.50 million. During the same period in the prior year, the firm posted ($0.09) earnings per share. The firm’s revenue was up 54.2% on a year-over-year basis. As a group, research analysts anticipate that Surgery Partners will post -0.49 earnings per share for the current year.

In other news, insider Brandan Lingle sold 10,000 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 20,393 shares in the company, valued at approximately $370,132.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.20% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of SGRY. Bank of New York Mellon Corp increased 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 valued at $1,397,000 after purchasing an additional 7,332 shares during the period. Millennium Management LLC increased its position in shares of Surgery Partners by 97.0% during the 2nd quarter. Millennium Management LLC now owns 93,492 shares of the company’s stock valued at $1,393,000 after purchasing an additional 46,033 shares during the period. Redmile Group LLC acquired a new position in shares of Surgery Partners during the 2nd quarter valued at $9,257,000. Highland Capital Management LP increased its position in shares of Surgery Partners by 171.3% during the 2nd quarter. Highland Capital Management LP now owns 323,700 shares of the company’s stock valued at $4,823,000 after purchasing an additional 204,400 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Surgery Partners during the 2nd quarter valued at $221,000. Hedge funds and other institutional investors 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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Analyst Recommendations for Surgery Partners (NASDAQ:SGRY)

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