Zacks: Analysts Expect Surgery Partners (SGRY) Will Announce Quarterly Sales of $423.52 Million

Equities analysts forecast that Surgery Partners (NASDAQ:SGRY) will report sales of $423.52 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Surgery Partners’ earnings. The lowest sales estimate is $410.55 million and the highest is $436.48 million. Surgery Partners reported sales of $286.18 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 48%. The company is scheduled to announce its next earnings report on Tuesday, May 8th.

On average, analysts expect that Surgery Partners will report full-year sales of $423.52 million for the current year. For the next year, analysts forecast that the company will report sales of $1.91 billion per share, with estimates ranging from $1.89 billion to $1.94 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Surgery Partners.

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Surgery Partners (NASDAQ:SGRY) last issued its earnings results on Thursday, March 1st. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.11). Surgery Partners had a negative return on equity of 0.53% and a negative net margin of 4.54%. The company had revenue of $460.30 million for the quarter, compared to analyst estimates of $438.30 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s quarterly revenue was up 50.4% compared to the same quarter last year.

Several research analysts have weighed in on SGRY shares. BidaskClub upgraded shares of Surgery Partners from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 12th. ValuEngine lowered shares of Surgery Partners from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded shares of Surgery Partners from a “sell” rating to a “hold” rating in a research report on Saturday, January 13th. Benchmark set a $19.00 target price on shares of Surgery Partners and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Finally, Jefferies Group set a $18.00 target price on shares of Surgery Partners and gave the stock a “buy” rating in a research report on Thursday, March 1st. Three analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $18.57.

NASDAQ:SGRY traded up $0.35 on Wednesday, hitting $17.15. 373,120 shares of the company were exchanged, compared to its average volume of 303,332. The company has a current ratio of 1.86, a quick ratio of 1.71 and a debt-to-equity ratio of 1.59. Surgery Partners has a fifty-two week low of $7.10 and a fifty-two week high of $24.05. The firm has a market capitalization of $833.69, a P/E ratio of -20.42 and a beta of 2.10.

Surgery Partners announced that its board has approved a stock repurchase plan on Friday, December 15th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Surgery Partners by 0.5% in the fourth quarter. BlackRock Inc. now owns 1,306,021 shares of the company’s stock valued at $15,804,000 after purchasing an additional 7,029 shares during the last quarter. We Are One Seven LLC acquired a new stake in shares of Surgery Partners in the fourth quarter valued at approximately $138,000. Citadel Advisors LLC acquired a new stake in shares of Surgery Partners in the third quarter valued at approximately $129,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Surgery Partners in the fourth quarter valued at approximately $157,000. Finally, Kennedy Capital Management Inc. grew its position in shares of Surgery Partners by 2.8% in the fourth quarter. Kennedy Capital Management Inc. now owns 498,556 shares of the company’s stock valued at $6,033,000 after purchasing an additional 13,659 shares during the last quarter.

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About Surgery Partners

Surgery Partners, Inc is healthcare services holding company, which engages in the provision of solutions for surgical and related ancillary care in support of its patients and physicians. It operates through the following business segments: Surgical Facility Services; Ancillary Services; and Optical Services.

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