Surgery Partners, Inc. (NASDAQ:SGRY) Expected to Post Quarterly Sales of $317.06 Million
Equities research analysts expect Surgery Partners, Inc. (NASDAQ:SGRY) to post $317.06 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Surgery Partners’ earnings. The highest sales estimate is $318.10 million and the lowest is $316.30 million. Surgery Partners reported sales of $289.68 million during the same quarter last year, which indicates a positive year over year growth rate of 9.5%. The company is expected to announce its next earnings results after the market closes on Tuesday, August 8th.
On average, analysts expect that Surgery Partners will report full-year sales of $317.06 million for the current year, with estimates ranging from $1.23 billion to $1.26 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.57 billion per share, with estimates ranging from $1.36 billion to $1.95 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Surgery Partners.
Several equities analysts recently commented on the stock. BidaskClub lowered shares of Surgery Partners from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Zacks Investment Research raised shares of Surgery Partners from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Wednesday, August 2nd. Finally, Stifel Nicolaus decreased their price objective on shares of Surgery Partners from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $21.60.
Surgery Partners (NASDAQ SGRY) opened at 18.95 on Tuesday. Surgery Partners has a 12-month low of $13.60 and a 12-month high of $24.05. The stock’s 50 day moving average is $21.73 and its 200 day moving average is $20.36. The stock has a market capitalization of $925.10 million, a PE ratio of 65.57 and a beta of 1.71.
Institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can bought a new position in shares of Surgery Partners during the first quarter valued at approximately $120,000. Atria Investments LLC acquired a new position in Surgery Partners during the first quarter worth about $203,000. American International Group Inc. raised its position in Surgery Partners by 7.1% in the first quarter. American International Group Inc. now owns 11,462 shares of the company’s stock worth $224,000 after buying an additional 759 shares in the last quarter. Campbell Newman Asset Management Inc. acquired a new position in Surgery Partners during the first quarter worth about $235,000. Finally, SG Americas Securities LLC acquired a new position in Surgery Partners during the first quarter worth about $244,000. 39.36% of the stock is owned by hedge funds and other institutional investors.
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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