Zacks Investment Research Lowers Surgery Partners (SGRY) to Sell

Surgery Partners (NASDAQ:SGRY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “Surgery Partners, Inc. is a healthcare services company. The Company’s outpatient delivery model focused on providing solutions for surgical and related ancillary care in support of its patients and physicians. Its operating segment consists of Surgical Facility Services segment, Ancillary Services segment and Optical Services segment. Surgery Partners, Inc. is based in Nashville, Tennessee. “

A number of other brokerages have also issued reports on SGRY. ValuEngine lowered Surgery Partners from a “hold” rating to a “sell” rating in a report on Friday. Benchmark set a $19.00 price target on Surgery Partners and gave the company a “buy” rating in a report on Tuesday, January 30th. BidaskClub upgraded Surgery Partners from a “sell” rating to a “hold” rating in a report on Wednesday, December 27th. Bank of America lowered their price target on Surgery Partners from $23.00 to $19.00 and set a “buy” rating for the company in a report on Monday, October 9th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $18.00 price target on shares of Surgery Partners in a report on Sunday, November 12th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $17.86.

Shares of Surgery Partners (NASDAQ SGRY) traded up $0.45 during midday trading on Tuesday, hitting $14.45. The company had a trading volume of 73,404 shares, compared to its average volume of 435,878. The company has a quick ratio of 1.92, a current ratio of 2.09 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $714.47, a price-to-earnings ratio of -31.41 and a beta of 2.47. Surgery Partners has a 12-month low of $7.10 and a 12-month high of $24.05.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results on Wednesday, November 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.07. Surgery Partners had a positive return on equity of 1.03% and a negative net margin of 0.33%. equities research analysts anticipate that Surgery Partners will post -0.16 earnings per share for the current year.

Surgery Partners announced that its board has authorized a share repurchase program on Friday, December 15th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

A number of institutional investors have recently bought and sold shares of SGRY. Vaughan Nelson Investment Management L.P. purchased a new stake in Surgery Partners during the fourth quarter worth $44,481,000. Sei Investments Co. purchased a new stake in Surgery Partners during the fourth quarter worth $3,201,000. Oxford Asset Management purchased a new stake in Surgery Partners during the fourth quarter worth $3,178,000. Wells Fargo & Company MN purchased a new stake in Surgery Partners during the fourth quarter worth $14,025,000. Finally, Jennison Associates LLC purchased a new stake in Surgery Partners during the fourth quarter worth $34,117,000. Institutional investors own 94.03% of the company’s stock.

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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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