Wall Street analysts forecast that Surgery Partners Inc (NASDAQ:SGRY) will post sales of $449.18 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Surgery Partners’ earnings. The highest sales estimate is $451.52 million and the lowest is $448.00 million. Surgery Partners posted sales of $444.78 million in the same quarter last year, which suggests a positive year over year growth rate of 1%. The company is scheduled to issue its next quarterly earnings results on Thursday, August 8th.
On average, analysts expect that Surgery Partners will report full-year sales of $1.85 billion for the current year, with estimates ranging from $1.82 billion to $1.88 billion. For the next year, analysts expect that the company will post sales of $2.01 billion, with estimates ranging from $1.91 billion to $2.12 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Surgery Partners.
Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.42) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.03). The business had revenue of $416.80 million during the quarter, compared to analysts’ expectations of $421.41 million. Surgery Partners had a negative net margin of 11.59% and a negative return on equity of 4.01%. Surgery Partners’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.26) EPS.
A number of equities research analysts have recently commented on SGRY shares. BidaskClub downgraded Surgery Partners from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Zacks Investment Research upgraded Surgery Partners from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 24th. Finally, Stifel Nicolaus set a $12.00 target price on Surgery Partners and gave the company a “hold” rating in a report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Surgery Partners presently has an average rating of “Hold” and an average price target of $17.60.
Shares of NASDAQ:SGRY traded down $0.63 during midday trading on Friday, reaching $8.32. The company’s stock had a trading volume of 408,780 shares, compared to its average volume of 281,472. The company has a market cap of $432.50 million, a P/E ratio of -3.40 and a beta of 2.52. The company has a quick ratio of 1.37, a current ratio of 1.49 and a debt-to-equity ratio of 2.20. Surgery Partners has a 1 year low of $8.25 and a 1 year high of $18.70.
In related news, Director Adam T. Feinstein sold 7,865 shares of Surgery Partners stock in a transaction on Monday, May 20th. The stock was sold at an average price of $9.95, for a total value of $78,256.75. Following the transaction, the director now owns 8,895 shares in the company, valued at $88,505.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.20% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Citigroup Inc. lifted its stake in shares of Surgery Partners by 40.5% during the first quarter. Citigroup Inc. now owns 3,512 shares of the company’s stock worth $40,000 after purchasing an additional 1,013 shares in the last quarter. Quantamental Technologies LLC acquired a new position in shares of Surgery Partners during the first quarter worth about $50,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Surgery Partners during the fourth quarter worth about $54,000. Metropolitan Life Insurance Co. NY lifted its stake in shares of Surgery Partners by 351.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,766 shares of the company’s stock worth $66,000 after purchasing an additional 5,267 shares in the last quarter. Finally, Menta Capital LLC acquired a new position in shares of Surgery Partners during the fourth quarter worth about $99,000. Hedge funds and other institutional investors own 96.76% of the company’s stock.
About Surgery Partners
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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