Surgery Partners Inc. (NASDAQ:SGRY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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. “
Separately, Jefferies Group restated a “buy” rating and set a $24.00 price objective (down previously from $27.00) on shares of Surgery Partners in a research report on Thursday, November 10th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $21.14.
Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings data on Wednesday, November 9th. The company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.07. The company earned $282.70 million during the quarter, compared to the consensus estimate of $283.80 million. Surgery Partners had a net margin of 2.60% and a return on equity of 17.09%. Surgery Partners’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.04 EPS. Equities analysts predict that Surgery Partners will post $0.66 earnings per share for the current year.
In other news, VP Jennifer Baldock sold 2,500 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $19.20, for a total value of $48,000.00. Following the completion of the transaction, the vice president now owns 66,983 shares in the company, valued at approximately $1,286,073.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.10% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in SGRY. Morgan Stanley increased its position in shares of Surgery Partners by 67.4% in the third quarter. Morgan Stanley now owns 6,539 shares of the company’s stock worth $133,000 after buying an additional 2,633 shares in the last quarter. Acrospire Investment Management LLC boosted its stake in shares of Surgery Partners by 914.3% in the second quarter. Acrospire Investment Management LLC now owns 7,100 shares of the company’s stock worth $127,000 after buying an additional 6,400 shares during the last quarter. BlackRock Group LTD acquired a new stake in shares of Surgery Partners during the third quarter worth approximately $200,000. Bellevue Group AG acquired a new stake in shares of Surgery Partners during the first quarter worth approximately $133,000. Finally, Parametric Portfolio Associates LLC acquired a new stake in shares of Surgery Partners during the second quarter worth approximately $181,000. Institutional investors and hedge funds own 38.34% of the company’s stock.
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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