Surgery Partners (NASDAQ:SGRY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “Surgery Partners, Inc. is a healthcare services company. The Company’s outpatient delivery model focused on providing solutions for surgical and related ancillary care in support of its patients and physicians. Its operating segment consists of Surgical Facility Services segment, Ancillary Services segment and Optical Services segment. Surgery Partners, Inc. is based in Nashville, Tennessee. “

Several other analysts also recently issued reports on the stock. BidaskClub downgraded shares of Surgery Partners from a “hold” rating to a “sell” rating in a report on Tuesday. Bank of America raised shares of Surgery Partners from a “neutral” rating to a “buy” rating in a report on Tuesday, September 18th. Leerink Swann upped their price objective on shares of Surgery Partners from $20.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, August 13th. Royal Bank of Canada upped their price objective on shares of Surgery Partners from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, August 10th. Finally, ValuEngine raised shares of Surgery Partners from a “hold” rating to a “buy” rating in a report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Surgery Partners presently has a consensus rating of “Buy” and an average price target of $19.00.

SGRY stock traded down $0.76 during trading hours on Thursday, hitting $13.70. The company’s stock had a trading volume of 645,331 shares, compared to its average volume of 327,746. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $806.89 million, a price-to-earnings ratio of -16.31 and a beta of 1.90. Surgery Partners has a 12 month low of $7.10 and a 12 month high of $19.95.

Surgery Partners (NASDAQ:SGRY) last posted its earnings results on Thursday, August 9th. The company reported ($0.18) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.07. The company had revenue of $444.78 million during the quarter, compared to the consensus estimate of $428.50 million. Surgery Partners had a negative net margin of 5.56% and a negative return on equity of 1.67%. The company’s revenue for the quarter was up 54.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) earnings per share. On average, research analysts expect that Surgery Partners will post -0.49 EPS for the current fiscal year.

In related news, insider Brandan Lingle sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $18.15, for a total transaction of $181,500.00. Following the completion of the sale, the insider now directly owns 20,393 shares of the company’s stock, valued at approximately $370,132.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.20% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. NN Investment Partners Holdings N.V. raised its stake in Surgery Partners by 4.8% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 5,523,801 shares of the company’s stock valued at $82,305,000 after purchasing an additional 250,704 shares during the last quarter. BlackRock Inc. raised its stake in Surgery Partners by 3.6% during the 2nd quarter. BlackRock Inc. now owns 1,338,176 shares of the company’s stock valued at $19,939,000 after purchasing an additional 46,111 shares during the last quarter. Redmile Group LLC acquired a new position in Surgery Partners during the 2nd quarter valued at $9,257,000. Dimensional Fund Advisors LP raised its stake in Surgery Partners by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 571,218 shares of the company’s stock valued at $8,512,000 after purchasing an additional 29,643 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Surgery Partners during the 1st quarter valued at $6,097,000. 97.53% of the stock is owned by institutional investors and hedge funds.

About Surgery Partners

Surgery Partners, Inc, through its subsidiaries, operates surgical facilities 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.

See Also: How Do Tariffs Affect Trade Balances?

Get a free copy of the Zacks research report on Surgery Partners (SGRY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Surgery Partners (NASDAQ:SGRY)

Receive News & Ratings for Surgery Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Surgery Partners and related companies with MarketBeat.com's FREE daily email newsletter.