Surgery Partners (NASDAQ:SGRY) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Surgery Partners (NASDAQ:SGRY) announced its earnings results on Monday. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.05, FiscalAI reports. The business had revenue of $815.30 million during the quarter, compared to the consensus estimate of $820.96 million. Surgery Partners had a negative net margin of 2.59% and a positive return on equity of 0.96%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 earnings per share.

Surgery Partners Stock Down 0.9%

SGRY traded down $0.24 during trading on Wednesday, hitting $26.49. The company had a trading volume of 375,270 shares, compared to its average volume of 2,243,255. The company has a market cap of $3.47 billion, a PE ratio of -38.98 and a beta of 1.85. The business has a 50-day moving average of $16.55 and a 200-day moving average of $14.94. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.95 and a quick ratio of 1.78. Surgery Partners has a 1-year low of $11.41 and a 1-year high of $27.23.

Insider Buying and Selling

In related news, Director Teresa DeLuca acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was bought at an average cost of $14.35 per share, with a total value of $143,500.00. Following the acquisition, the director directly owned 66,843 shares in the company, valued at approximately $959,197.05. The trade was a 17.59% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Raymond James Financial set a $23.50 price objective on shares of Surgery Partners in a report on Monday, October 26th. TD Cowen lowered Surgery Partners from a “strong-buy” rating to a “hold” rating in a research report on Saturday, October 31st. Benchmark reaffirmed a “buy” rating on shares of Surgery Partners in a research report on Tuesday, August 11th. Royal Bank Of Canada boosted their price target on Surgery Partners from $23.50 to $25.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Finally, UBS Group downgraded Surgery Partners from a “buy” rating to a “hold” rating and increased their price target for the company from $21.00 to $23.50 in a report on Wednesday, October 28th. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.10.

More Surgery Partners News

These are some of the SGRY news items that stood out recently:

• Positive Sentiment: The HealthSpan merger price was raised to $25 per share from $23.50 after a rival bid emerged. RBC also sees the possibility of a revised competing offer, which could improve the deal value, though neither a higher offer nor its terms are assured. RBC on possible rival offer
• Neutral Sentiment: SGRY reported third-quarter adjusted EPS of $0.16, above analyst estimates. Revenue of $815.3 million fell slightly short of expectations and was down year over year; separate reported figures showed a wider net loss, highlighting continued profitability pressure. Q3 earnings report
• Negative Sentiment: Mizuho cut its rating from Outperform to Neutral. Although it raised its target to $25 from $19, that target is below the current market price and signals limited upside at that valuation.

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.