ValuEngine lowered shares of Surgery Partners (NASDAQ:SGRY) from a hold rating to a sell rating in a report released on Sunday, December 31st.
A number of other equities analysts have also recently issued reports on the stock. BidaskClub upgraded shares of Surgery Partners from a sell rating to a hold rating in a research report on Wednesday, December 27th. Royal Bank of Canada reaffirmed a buy rating and set a $18.00 target price on shares of Surgery Partners in a research note on Sunday, November 12th. Zacks Investment Research lowered shares of Surgery Partners from a hold rating to a strong sell rating in a research note on Saturday, November 4th. Jefferies Group dropped their price objective on shares of Surgery Partners from $16.00 to $13.00 and set a buy rating on the stock in a research note on Wednesday, November 1st. Finally, KeyCorp reissued a hold rating on shares of Surgery Partners in a research note on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $18.57.
Surgery Partners (NASDAQ:SGRY) opened at $15.65 on Friday. 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 company has a market cap of $763.24 and a price-to-earnings ratio of -173.89. Surgery Partners has a fifty-two week low of $7.10 and a fifty-two week high of $24.05.
Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings data on Wednesday, November 8th. The company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.07. Surgery Partners had a negative net margin of 0.33% and a positive return on equity of 1.03%. equities research analysts anticipate that Surgery Partners will post -0.16 earnings per share for the current year.
Surgery Partners announced that its Board of Directors has approved a share buyback plan on Friday, December 15th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
A number of hedge funds have recently made changes to their positions in SGRY. Teachers Advisors LLC increased its holdings in Surgery Partners by 4.5% during the first quarter. Teachers Advisors LLC now owns 35,753 shares of the company’s stock valued at $697,000 after buying an additional 1,544 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Surgery Partners by 211.4% in the second quarter. Russell Investments Group Ltd. now owns 11,915 shares of the company’s stock worth $271,000 after purchasing an additional 8,089 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Surgery Partners by 14.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 75,721 shares of the company’s stock worth $1,723,000 after purchasing an additional 9,656 shares during the period. First Trust Advisors LP boosted its position in shares of Surgery Partners by 284.3% in the second quarter. First Trust Advisors LP now owns 118,232 shares of the company’s stock worth $2,690,000 after purchasing an additional 87,464 shares during the period. Finally, Royce & Associates LP boosted its position in shares of Surgery Partners by 78.2% in the second quarter. Royce & Associates LP now owns 262,125 shares of the company’s stock worth $5,963,000 after purchasing an additional 114,999 shares during the period. 94.16% of the stock is owned by institutional investors and hedge funds.
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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