Surgery Partners (NASDAQ:SGRY) Downgraded by UBS Group to “Neutral”

Surgery Partners (NASDAQ:SGRY) was downgraded by investment analysts at UBS Group from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, Benzinga reports. They presently have a $23.50 price target on the stock, up from their previous price target of $21.00. UBS Group‘s price objective would suggest a potential upside of 1.12% from the company’s previous close.

SGRY has been the subject of a number of other reports. Benchmark reiterated a “buy” rating on shares of Surgery Partners in a research report on Tuesday, August 11th. TD Cowen restated a “buy” rating and set a $19.00 price target on shares of Surgery Partners in a research report on Friday, September 18th. Weiss Ratings raised shares of Surgery Partners from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 16th. Raymond James Financial set a $23.50 price objective on shares of Surgery Partners in a report on Monday. Finally, Stonex Financia lowered shares of Surgery Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.14.

Surgery Partners Price Performance

Shares of SGRY traded down $0.12 during trading hours on Wednesday, hitting $23.24. 3,105,467 shares of the stock were exchanged, compared to its average volume of 2,073,740. The stock’s 50-day moving average price is $14.57 and its two-hundred day moving average price is $14.53. Surgery Partners has a 12-month low of $11.41 and a 12-month high of $23.44. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.78 and a current ratio of 1.95. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -33.20, a price-to-earnings-growth ratio of 4.87 and a beta of 1.90.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. Surgery Partners had a positive return on equity of 0.88% and a negative net margin of 2.63%. The company had revenue of $848.90 million for the quarter, compared to analyst estimates of $830.03 million. During the same quarter last year, the firm posted $0.17 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts expect that Surgery Partners will post 0.25 earnings per share for the current year.

Insider Transactions at Surgery Partners

In other news, Director Teresa DeLuca purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was acquired at an average price of $14.35 per share, with a total value of $143,500.00. Following the purchase, the director directly owned 66,843 shares in the company, valued at approximately $959,197.05. This represents a 17.59% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Jupiter Topco LLC acquired a new stake in Surgery Partners during the second quarter worth $233,220,000. Pentwater Capital Management LP acquired a new position in shares of Surgery Partners in the 2nd quarter valued at $195,384,000. BlackRock Inc. acquired a new position in shares of Surgery Partners in the 2nd quarter valued at $104,857,000. Dimensional Fund Advisors LP grew its holdings in shares of Surgery Partners by 7.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,296,411 shares of the company’s stock worth $63,131,000 after purchasing an additional 389,831 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in shares of Surgery Partners during the 2nd quarter worth $48,912,000.

Trending Headlines about Surgery Partners

Here are the key news stories impacting Surgery Partners this week:

• Positive Sentiment: HealthSpan Partners’ agreement to take Surgery Partners private is the primary catalyst, following a nearly 48% rally after the deal was announced. The acquisition provides shareholders with a defined $23.50-per-share exit value. Surgery Partners To Be Acquired by HealthSpan Partners
• Positive Sentiment: The transaction is expected to establish a larger outpatient surgical-care platform, potentially supporting strategic value for the buyer and helping explain the premium investors initially placed on SGRY shares. Surgery Partners Enters Acquisition Agreement with HealthSpan Partners
• Neutral Sentiment: StoneX downgraded Surgery Partners from “strong buy” to “hold” and previously moved its rating from “buy” to “hold.” The change reflects the limited upside between the current trading level and the $23.50 offer price rather than a new deterioration in operating results. StoneX Downgrades Surgery Partners
• Negative Sentiment: Several law firms have announced investigations into the proposed sale, including claims focused on whether shareholders are receiving adequate consideration. These announcements could add headline and execution risk, although they do not change the announced terms. Shareholder Investigation of Surgery Partners

Surgery Partners Company Profile

Surgery Partners, Inc is a U.S.-based healthcare services company that operates and manages ambulatory surgery centers and surgical hospitals. The company works with physicians, health systems and other healthcare providers to deliver outpatient surgical care in facilities designed for same-day procedures.

Its facilities provide surgical services across specialties such as orthopedics, pain management, ophthalmology, gastroenterology, urology, gynecology and general surgery. Surgery Partners also supports its operations with clinical, administrative and revenue-cycle services intended to help physicians and facility partners manage patient care and practice operations.

Founded in 2004 and headquartered in Brentwood, Tennessee, Surgery Partners has expanded its platform through acquisitions, joint ventures and other partnerships.