Surgery Partners (NASDAQ:SGRY) Downgraded by BidaskClub

BidaskClub lowered shares of Surgery Partners (NASDAQ:SGRY) from a hold rating to a sell rating in a report issued on Saturday morning, BidAskClub reports.

Other equities analysts have also issued reports about the stock. Benchmark raised shares of Surgery Partners from a hold rating to a buy rating and set a $14.00 price target on the stock in a report on Monday, April 27th. ValuEngine lowered shares of Surgery Partners from a strong-buy rating to a buy rating in a report on Thursday, April 2nd. Royal Bank of Canada reissued a buy rating and set a $14.00 price objective on shares of Surgery Partners in a report on Wednesday, May 13th. Finally, Citigroup boosted their price objective on shares of Surgery Partners from $10.00 to $15.00 and gave the company a buy rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $15.60.

NASDAQ SGRY opened at $11.24 on Friday. The firm’s fifty day simple moving average is $12.51 and its two-hundred day simple moving average is $12.94. The company has a current ratio of 1.49, a quick ratio of 1.37 and a debt-to-equity ratio of 2.84. Surgery Partners has a 12-month low of $4.00 and a 12-month high of $19.74. The firm has a market capitalization of $528.93 million, a P/E ratio of -4.63 and a beta of 3.45.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.62) by $0.28. Surgery Partners had a negative net margin of 4.38% and a negative return on equity of 2.21%. The business had revenue of $441.00 million for the quarter, compared to analyst estimates of $377.50 million. As a group, sell-side analysts predict that Surgery Partners will post -1.34 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in shares of Surgery Partners by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 96,818 shares of the company’s stock valued at $1,516,000 after buying an additional 884 shares during the last quarter. Bank of Montreal Can boosted its holdings in Surgery Partners by 32.4% in the fourth quarter. Bank of Montreal Can now owns 3,865 shares of the company’s stock valued at $61,000 after purchasing an additional 946 shares during the last quarter. Swiss National Bank boosted its holdings in Surgery Partners by 4.1% in the fourth quarter. Swiss National Bank now owns 37,900 shares of the company’s stock valued at $593,000 after purchasing an additional 1,500 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Surgery Partners by 1.8% in the first quarter. BNP Paribas Arbitrage SA now owns 107,675 shares of the company’s stock valued at $703,000 after purchasing an additional 1,859 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its holdings in Surgery Partners by 0.4% in the fourth quarter. Pictet Asset Management Ltd. now owns 646,225 shares of the company’s stock valued at $10,117,000 after purchasing an additional 2,782 shares during the last quarter. 93.05% of the stock is currently owned by hedge funds and other institutional investors.

Surgery Partners Company Profile

Surgery Partners, Inc, through its subsidiaries, owns and operates a network of surgical facilities and related services 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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