Analysts expect that Surgery Partners Inc (NASDAQ:SGRY) will post $437.30 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Surgery Partners’ earnings, with the highest sales estimate coming in at $453.09 million and the lowest estimate coming in at $425.00 million. Surgery Partners reported sales of $306.34 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 42.7%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, November 14th.
On average, analysts expect that Surgery Partners will report full-year sales of $1.79 billion for the current financial year, with estimates ranging from $1.77 billion to $1.80 billion. For the next fiscal year, analysts expect that the company will post sales of $1.91 billion, with estimates ranging from $1.90 billion to $1.94 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Surgery Partners.
Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Thursday, August 9th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.07. The business had revenue of $444.78 million for the quarter, compared to analyst estimates of $428.50 million. Surgery Partners had a negative net margin of 5.56% and a negative return on equity of 1.67%. The firm’s revenue for the quarter was up 54.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) EPS.
A number of analysts have weighed in on the stock. BidaskClub upgraded shares of Surgery Partners from a “hold” rating to a “buy” rating in a research report on Saturday, June 23rd. Stifel Nicolaus upgraded shares of Surgery Partners from a “sell” rating to a “hold” rating and set a $15.00 target price on the stock in a research report on Thursday, June 28th. ValuEngine upgraded shares of Surgery Partners from a “sell” rating to a “hold” rating in a research report on Thursday, June 21st. Zacks Investment Research upgraded shares of Surgery Partners from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Thursday, August 16th. Finally, Royal Bank of Canada raised their target price on shares of Surgery Partners from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, August 10th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $19.43.
Surgery Partners stock traded down $0.44 during mid-day trading on Thursday, reaching $15.10. The company had a trading volume of 400,667 shares, compared to its average volume of 325,583. Surgery Partners has a fifty-two week low of $7.10 and a fifty-two week high of $19.95. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.59 and a quick ratio of 1.44. The firm has a market capitalization of $806.89 million, a P/E ratio of -17.98 and a beta of 1.90.
In other Surgery Partners news, insider Brandan Lingle sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $18.15, for a total value of $181,500.00. Following the sale, the insider now owns 20,393 shares in the company, valued at $370,132.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in SGRY. US Bancorp DE raised its stake in shares of Surgery Partners by 76.6% during the second quarter. US Bancorp DE now owns 7,328 shares of the company’s stock valued at $109,000 after acquiring an additional 3,179 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Surgery Partners during the second quarter valued at $149,000. MetLife Investment Advisors LLC bought a new position in shares of Surgery Partners during the first quarter valued at $164,000. Raymond James & Associates bought a new position in shares of Surgery Partners during the second quarter valued at $185,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Surgery Partners during the second quarter valued at $221,000. 97.53% of the stock is owned by hedge funds and other institutional investors.
Surgery Partners Company Profile
Surgery Partners, Inc, through its subsidiaries, operates surgical facilities in the United States. The company operates through three segments: Surgical Facility Services, Ancillary Services, and Optical Services. Its surgical facilities comprise ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including gastroenterology, general surgery, ophthalmology, orthopedics, and pain management.
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