Surgery Partners (NASDAQ:SGRY – Get Free Report) released its earnings results on Monday. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05, FiscalAI reports. The firm had revenue of $815.30 million during the quarter, compared to analyst estimates of $820.96 million. Surgery Partners had a positive return on equity of 0.88% and a negative net margin of 2.63%. Surgery Partners’s revenue was down .8% compared to the same quarter last year. During the same period last year, the business posted $0.13 earnings per share.
Surgery Partners Stock Performance
SGRY traded up $3.25 during trading on Monday, reaching $26.45. The company’s stock had a trading volume of 17,054,489 shares, compared to its average volume of 2,229,558. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.78 and a current ratio of 1.95. The company’s fifty day moving average price is $16.29 and its 200-day moving average price is $14.88. Surgery Partners has a 52-week low of $11.41 and a 52-week high of $27.23. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of -37.79 and a beta of 1.85.
Trending Headlines about Surgery Partners
Here are the key news stories impacting Surgery Partners this week:
- Positive Sentiment: Deal activity lifted investor interest. Reports said a Bon Secours affiliate sweetened its bid for Surgery Partners, while Surgery Partners separately raised its proposed buyout price for HealthSpan to $25 per share. Bon Secours affiliate sweetens bid for Surgery Partners Surgery Partners boosts HealthSpan buyout offer
- Positive Sentiment: Adjusted earnings beat expectations. Q3 adjusted EPS was $0.16, versus analysts’ $0.11 consensus. Operating cash flow also improved to $103.5 million, and cash and equivalents rose to $354.5 million. Q3 adjusted EPS report
- Negative Sentiment: Underlying results were weaker. Revenue of $815.3 million fell short of estimates, while gross and operating profit declined. Surgery Partners reported a $21.1 million net loss attributable to common shareholders, with higher costs pressuring margins. Surgery Partners Q3 results
- Negative Sentiment: A law firm announced an investigation into the pending merger, adding some legal and execution uncertainty for shareholders. Merger investigation announcement
Insider Activity at Surgery Partners
In other Surgery Partners news, Director Teresa DeLuca purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were purchased at an average cost of $14.35 per share, for a total transaction of $143,500.00. Following the completion of the purchase, the director directly owned 66,843 shares in the company, valued at $959,197.05. This represents a 17.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several equities research analysts recently commented on SGRY shares. Benchmark reiterated a “buy” rating on shares of Surgery Partners in a research note on Tuesday, August 11th. Raymond James Financial set a $23.50 price objective on shares of Surgery Partners in a research note on Monday, October 26th. UBS Group lowered Surgery Partners from a “buy” rating to a “hold” rating and raised their price objective for the stock from $21.00 to $23.50 in a report on Wednesday, October 28th. JPMorgan Chase & Co. lifted their target price on Surgery Partners from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, September 14th. Finally, Zacks Research downgraded Surgery Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.14.
View Our Latest Stock Analysis on Surgery Partners
Surgery Partners Company Profile
Surgery Partners, Inc is a U.S. healthcare services company that owns and operates ambulatory surgery centers and surgical hospitals. Its facilities provide outpatient and inpatient surgical care across a range of specialties.
The company’s services include surgical procedures and related care delivered in partnership with physicians and healthcare professionals. Its network serves patients in multiple states across the United States.
Founded in 2004, Surgery Partners has expanded its network through acquisitions and partnerships with physicians and health systems.
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