Surgery Partners (NASDAQ:SGRY) Announces Quarterly Earnings Results

Surgery Partners (NASDAQ:SGRY) issued its quarterly earnings results on Monday. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04, FiscalAI reports. Surgery Partners had a negative net margin of 2.28% and a positive return on equity of 1.04%. The firm had revenue of $848.90 million for the quarter, compared to analyst estimates of $830.03 million.

Surgery Partners Price Performance

Shares of NASDAQ SGRY opened at $15.53 on Monday. Surgery Partners has a 1 year low of $11.41 and a 1 year high of $24.10. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.86 and a quick ratio of 1.69. The company’s 50-day moving average is $15.43 and its 200 day moving average is $14.43. The stock has a market capitalization of $2.03 billion, a P/E ratio of -25.88, a P/E/G ratio of 4.64 and a beta of 1.92.

Institutional Trading of Surgery Partners

Large investors have recently bought and sold shares of the company. Janus Henderson Group PLC raised its position in shares of Surgery Partners by 3.8% in the 4th quarter. Janus Henderson Group PLC now owns 13,537,984 shares of the company’s stock worth $209,162,000 after acquiring an additional 501,401 shares in the last quarter. Pentwater Capital Management LP boosted its position in shares of Surgery Partners by 66.9% during the third quarter. Pentwater Capital Management LP now owns 11,681,000 shares of the company’s stock valued at $252,777,000 after purchasing an additional 4,681,000 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Surgery Partners by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,906,580 shares of the company’s stock worth $75,808,000 after purchasing an additional 46,365 shares during the period. UBS Group AG grew its stake in Surgery Partners by 50.6% in the third quarter. UBS Group AG now owns 3,690,922 shares of the company’s stock worth $79,872,000 after purchasing an additional 1,239,549 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Surgery Partners by 528.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,959,686 shares of the company’s stock worth $30,277,000 after purchasing an additional 1,647,714 shares in the last quarter.

Wall Street Analyst Weigh In

SGRY has been the topic of several analyst reports. Zacks Research upgraded Surgery Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 4th. Jefferies Financial Group reiterated a “buy” rating and issued a $17.00 price objective on shares of Surgery Partners in a report on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Surgery Partners in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Surgery Partners presently has an average rating of “Moderate Buy” and an average price target of $21.60.

About Surgery Partners

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.