Surgery Partners (NASDAQ:SGRY – Get Free Report) was downgraded by investment analysts at Stonex Financia from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks reports.
A number of other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. upped their price target on Surgery Partners from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, September 14th. Zacks Research downgraded Surgery Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Weiss Ratings raised Surgery Partners from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 16th. Raymond James Financial set a $23.50 target price on Surgery Partners in a report on Monday. Finally, Cantor Fitzgerald cut Surgery Partners from an “overweight” rating to a “neutral” rating in a report on Monday. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Surgery Partners currently has an average rating of “Hold” and a consensus price target of $19.91.
Check Out Our Latest Stock Analysis on SGRY
Surgery Partners Price Performance
NASDAQ:SGRY opened at $23.36 on Tuesday. Surgery Partners has a twelve month low of $11.41 and a twelve month high of $23.44. The company’s 50-day moving average price is $14.57 and its 200-day moving average price is $14.53.
Surgery Partners (NASDAQ:SGRY – Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.04. The business had revenue of $848.90 million for the quarter, compared to analysts’ expectations of $830.03 million. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 EPS. On average, research analysts expect that Surgery Partners will post 0.25 earnings per share for the current year.
Insider Activity
In related news, Director Teresa DeLuca bought 10,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were bought at an average price of $14.35 per share, with a total value of $143,500.00. Following the completion of the transaction, the director directly owned 66,843 shares of the company’s stock, valued at $959,197.05. This represents a 17.59% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc acquired a new stake in shares of Surgery Partners in the second quarter valued at $1,205,000. Whitefort Capital Management LP purchased a new stake in shares of Surgery Partners in the 2nd quarter valued at $15,142,378. Penn Capital Management Company LLC purchased a new stake in shares of Surgery Partners in the 2nd quarter valued at $2,941,000. Corient Private Wealth LP acquired a new position in Surgery Partners during the 2nd quarter worth about $1,211,000. Finally, Hsbc Holdings PLC lifted its stake in Surgery Partners by 54.5% during the 2nd quarter. Hsbc Holdings PLC now owns 2,958,912 shares of the company’s stock worth $48,912,000 after acquiring an additional 1,043,244 shares in the last quarter.
Surgery Partners News Summary
Here are the key news stories impacting Surgery Partners this week:
- Positive Sentiment: HealthSpan will pay $23.50 per share, giving investors a clear cash exit and valuing the company at a substantial premium to its pre-announcement trading level. The agreement prompted a surge in SGRY shares and is the primary reason for the stock’s strength. Reuters acquisition article
- Positive Sentiment: The transaction would take Surgery Partners private and involves HealthSpan acquiring a 61.24% stake for roughly $2 billion, potentially reducing the company’s public-market exposure and providing deal certainty if shareholder and regulatory approvals are obtained. MarketScreener stake acquisition article
Surgery Partners Company Profile
Surgery Partners, Inc is a U.S.-based healthcare services company that operates and manages ambulatory surgery centers and surgical hospitals. The company works with physicians, health systems and other healthcare providers to deliver outpatient surgical care in facilities designed for same-day procedures.
Its facilities provide surgical services across specialties such as orthopedics, pain management, ophthalmology, gastroenterology, urology, gynecology and general surgery. Surgery Partners also supports its operations with clinical, administrative and revenue-cycle services intended to help physicians and facility partners manage patient care and practice operations.
Founded in 2004 and headquartered in Brentwood, Tennessee, Surgery Partners has expanded its platform through acquisitions, joint ventures and other partnerships.
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