Wall Street brokerages forecast that Surgery Partners Inc (NASDAQ:SGRY) will post sales of $422.34 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Surgery Partners’ earnings, with the lowest sales estimate coming in at $410.55 million and the highest estimate coming in at $434.13 million. Surgery Partners posted sales of $286.18 million during the same quarter last year, which would indicate a positive year over year growth rate of 47.6%. The business is expected to announce its next earnings report on Tuesday, May 8th.
On average, analysts expect that Surgery Partners will report full-year sales of $422.34 million for the current financial year, with estimates ranging from $1.75 billion to $1.80 billion. For the next year, analysts anticipate that the company will report sales of $1.89 billion per share. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Surgery Partners.
Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings data on Thursday, March 1st. The company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.11). The firm had revenue of $460.30 million for the quarter, compared to the consensus estimate of $438.30 million. Surgery Partners had a negative net margin of 4.54% and a negative return on equity of 0.67%. The firm’s revenue for the quarter was up 50.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 earnings per share.
Several analysts have recently commented on SGRY shares. BidaskClub upgraded shares of Surgery Partners from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 12th. Zacks Investment Research upgraded shares of Surgery Partners from a “sell” rating to a “hold” rating in a research report on Saturday, January 13th. ValuEngine downgraded shares of Surgery Partners from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Jefferies Group set a $18.00 price target on shares of Surgery Partners and gave the company a “buy” rating in a report on Thursday, March 1st. Finally, Benchmark set a $19.00 price target on shares of Surgery Partners and gave the company a “buy” rating in a report on Tuesday, January 30th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Surgery Partners has a consensus rating of “Hold” and an average price target of $18.57.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Bain Capital Investors LLC bought a new stake in Surgery Partners in the 3rd quarter valued at $273,816,000. Phoenix Investment Adviser LLC bought a new stake in Surgery Partners in the 3rd quarter valued at $744,000. Northern Trust Corp increased its holdings in Surgery Partners by 36.0% in the 2nd quarter. Northern Trust Corp now owns 307,738 shares of the company’s stock valued at $7,001,000 after acquiring an additional 81,468 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Surgery Partners by 156.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 524,775 shares of the company’s stock valued at $5,379,000 after acquiring an additional 319,775 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in Surgery Partners by 680.5% in the 2nd quarter. Royal Bank of Canada now owns 10,544 shares of the company’s stock valued at $240,000 after acquiring an additional 9,193 shares during the last quarter.
Shares of Surgery Partners (SGRY) traded up $0.10 during mid-day trading on Friday, hitting $16.75. 199,175 shares of the stock traded hands, compared to its average volume of 391,669. The company has a market cap of $841.27, a P/E ratio of -10.15 and a beta of 2.10. Surgery Partners has a 12-month low of $7.10 and a 12-month high of $24.05. The company has a quick ratio of 1.92, a current ratio of 2.09 and a debt-to-equity ratio of 1.56.
Surgery Partners announced that its Board of Directors has initiated a share repurchase plan on Friday, December 15th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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Surgery Partners Company Profile
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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