Zacks Investment Research Downgrades Surgery Partners (NASDAQ:SGRY) to Sell

Surgery Partners (NASDAQ:SGRYGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, Zacks.com reports.

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. “

Other research analysts have also recently issued reports about the stock. SVB Leerink raised their price objective on shares of Surgery Partners from $63.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 2nd. Citigroup lifted their target price on shares of Surgery Partners from $61.00 to $64.00 in a research note on Wednesday, May 4th. StockNews.com cut shares of Surgery Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. Royal Bank of Canada lowered their target price on shares of Surgery Partners from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, March 1st. Finally, Benchmark lifted their target price on shares of Surgery Partners from $65.00 to $72.00 in a research note on Wednesday, May 4th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $60.11.

Shares of SGRY traded up $1.12 during mid-day trading on Tuesday, reaching $48.34. 1,700 shares of the company’s stock were exchanged, compared to its average volume of 416,771. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.65 and a current ratio of 1.73. The stock’s 50-day simple moving average is $53.68. Surgery Partners has a 52-week low of $37.63 and a 52-week high of $69.58. The company has a market cap of $4.35 billion, a P/E ratio of -91.21, a price-to-earnings-growth ratio of 4.52 and a beta of 2.76.

Surgery Partners (NASDAQ:SGRYGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. Surgery Partners had a negative net margin of 1.63% and a negative return on equity of 0.46%. During the same quarter in the previous year, the business posted ($0.40) earnings per share. On average, equities research analysts predict that Surgery Partners will post 0.31 EPS for the current fiscal year.

In related news, insider George Goodwin sold 3,777 shares of the firm’s stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $52.23, for a total transaction of $197,272.71. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Wayne S. Deveydt sold 966 shares of the firm’s stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $55.11, for a total value of $53,236.26. The disclosure for this sale can be found here. Insiders sold a total of 116,220 shares of company stock worth $6,300,372 over the last ninety days. Corporate insiders own 3.30% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Campbell & CO Investment Adviser LLC purchased a new stake in Surgery Partners during the 1st quarter worth approximately $337,000. Principal Financial Group Inc. increased its holdings in Surgery Partners by 9.0% during the 1st quarter. Principal Financial Group Inc. now owns 62,719 shares of the company’s stock worth $3,453,000 after purchasing an additional 5,180 shares during the last quarter. Sivik Global Healthcare LLC purchased a new stake in Surgery Partners during the 1st quarter worth approximately $3,139,000. Swiss National Bank increased its holdings in Surgery Partners by 14.8% during the 1st quarter. Swiss National Bank now owns 83,700 shares of the company’s stock worth $4,608,000 after purchasing an additional 10,800 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in Surgery Partners by 13.1% during the 1st quarter. Teacher Retirement System of Texas now owns 7,127 shares of the company’s stock worth $392,000 after purchasing an additional 825 shares during the last quarter.

Surgery Partners Company Profile (Get Rating)

Surgery Partners, Inc, through its subsidiaries, owns and operates a network of surgical facilities and ancillary services in the United States. The company operates through two segments, Surgical Facility Services and Ancillary 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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