$312.81 Million in Sales Expected for Surgery Partners, Inc. (SGRY) This Quarter
Wall Street analysts predict that Surgery Partners, Inc. (NASDAQ:SGRY) will report sales of $312.81 million for the current quarter, according to Zacks. Three analysts have made estimates for Surgery Partners’ earnings. The lowest sales estimate is $291.20 million and the highest is $326.46 million. Surgery Partners reported sales of $282.68 million during the same quarter last year, which indicates a positive year-over-year growth rate of 10.7%. The firm is expected to report its next quarterly earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that Surgery Partners will report full-year sales of $312.81 million for the current fiscal year. For the next year, analysts forecast that the firm will post sales of $1.82 billion per share, with estimates ranging from $1.79 billion to $1.86 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Surgery Partners.
SGRY has been the topic of several analyst reports. Jefferies Group LLC reissued a “buy” rating and issued a $16.00 target price (down from $22.00) on shares of Surgery Partners in a research report on Friday, September 8th. Citigroup Inc. reissued a “buy” rating and issued a $17.00 target price (down from $28.00) on shares of Surgery Partners in a research report on Friday, August 11th. Zacks Investment Research raised shares of Surgery Partners from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Wednesday, August 2nd. BidaskClub raised shares of Surgery Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Finally, Raymond James Financial, Inc. reissued a “market perform” rating on shares of Surgery Partners in a research report on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $19.33.
In related news, major shareholder H.I.G. Surgery Centers, Llc sold 26,455,651 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $19.00, for a total transaction of $502,657,369.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 7.50% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Bank of Montreal Can bought a new stake in Surgery Partners in the first quarter worth approximately $120,000. Voya Investment Management LLC bought a new stake in Surgery Partners in the second quarter worth approximately $222,000. Royal Bank of Canada grew its position in Surgery Partners by 680.5% in the second quarter. Royal Bank of Canada now owns 10,544 shares of the company’s stock worth $240,000 after acquiring an additional 9,193 shares in the last quarter. Atria Investments LLC grew its position in Surgery Partners by 2.3% in the second quarter. Atria Investments LLC now owns 10,627 shares of the company’s stock worth $242,000 after acquiring an additional 238 shares in the last quarter. Finally, American International Group Inc. grew 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 acquiring an additional 759 shares in the last quarter. 38.06% of the stock is owned by institutional investors.
Surgery Partners (NASDAQ:SGRY) opened at 9.50 on Thursday. The stock has a market cap of $463.70 million, a P/E ratio of 62.50 and a beta of 2.02. Surgery Partners has a 1-year low of $8.52 and a 1-year high of $24.05. The firm’s 50-day moving average is $12.97 and its 200-day moving average is $18.65.
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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