Surgery Partners (NASDAQ:SGRY) Issues Earnings Results, Misses Expectations By $0.19 EPS

by · The Markets Daily

Surgery Partners (NASDAQ:SGRY – Get Free Report) issued its earnings results on Monday. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.19), FiscalAI reports. Surgery Partners had a positive return on equity of 2.41% and a negative net margin of 5.21%.

Surgery Partners Price Performance

Shares of SGRY stock traded up $0.38 during trading hours on Monday, hitting $15.88. 3,219,260 shares of the company’s stock were exchanged, compared to its average volume of 1,585,963. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.88 and a quick ratio of 1.72. Surgery Partners has a 52 week low of $13.14 and a 52 week high of $25.05. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -11.68 and a beta of 1.97. The stock’s 50-day moving average is $15.34 and its 200-day moving average is $18.38.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Benchmark reduced their target price on Surgery Partners from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. JPMorgan Chase & Co. cut their price target on shares of Surgery Partners from $27.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, November 24th. UBS Group decreased their price target on shares of Surgery Partners from $34.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Barclays dropped their price target on shares of Surgery Partners from $24.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, November 21st. Finally, Mizuho cut their target price on Surgery Partners from $22.00 to $19.00 and set an “outperform” rating for the company in a research report on Thursday, December 18th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.11.

Check Out Our Latest Research Report on SGRY

Institutional Investors Weigh In On Surgery Partners

Institutional investors and hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its holdings in Surgery Partners by 45,640.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock valued at $49,000 after purchasing an additional 2,282 shares during the period. PNC Financial Services Group Inc. increased its holdings in Surgery Partners by 128.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,702 shares of the company’s stock worth $58,000 after purchasing an additional 1,519 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in Surgery Partners during the 3rd quarter worth $121,000. Tower Research Capital LLC TRC boosted its position in Surgery Partners by 68.7% in the second quarter. Tower Research Capital LLC TRC now owns 9,313 shares of the company’s stock worth $207,000 after purchasing an additional 3,794 shares during the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of Surgery Partners during the 2nd quarter valued at approximately $219,000.

About Surgery Partners

(Get Free Report)

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.

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