Surgery Partners (NASDAQ:SGRY) Upgraded to Buy at Zacks Investment Research

Surgery Partners (NASDAQ:SGRY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Zacks.com reports. The firm presently has a $16.00 price target on the stock. Zacks Investment Research‘s target price suggests a potential upside of 10.88% from the company’s current price.

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. “

SGRY has been the subject of several other research reports. BidaskClub upgraded shares of Surgery Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. ValuEngine raised shares of Surgery Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 5th.

SGRY stock opened at $14.43 on Friday. The business has a 50 day moving average price of $10.91 and a 200 day moving average price of $8.44. The company has a quick ratio of 1.24, a current ratio of 1.36 and a debt-to-equity ratio of 2.39. The stock has a market cap of $714.37 million, a price-to-earnings ratio of -5.89 and a beta of 2.65. Surgery Partners has a fifty-two week low of $5.38 and a fifty-two week high of $14.76.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.28) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.06. The company had revenue of $452.00 million for the quarter, compared to analyst estimates of $452.30 million. Surgery Partners had a negative net margin of 11.26% and a negative return on equity of 5.32%. During the same period in the prior year, the firm posted ($0.19) earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Surgery Partners will post -1.12 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its position in shares of Surgery Partners by 64.3% during the second quarter. Royal Bank of Canada now owns 5,750 shares of the company’s stock worth $47,000 after purchasing an additional 2,250 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Surgery Partners in the 2nd quarter valued at about $57,000. Menta Capital LLC acquired a new stake in shares of Surgery Partners in the 2nd quarter valued at about $107,000. Barclays PLC grew its stake in Surgery Partners by 21.6% during the 3rd quarter. Barclays PLC now owns 19,294 shares of the company’s stock worth $143,000 after buying an additional 3,432 shares during the last quarter. Finally, Jefferies Group LLC grew its stake in Surgery Partners by 22.4% during the 2nd quarter. Jefferies Group LLC now owns 19,071 shares of the company’s stock worth $155,000 after buying an additional 3,490 shares during the last quarter. Institutional investors own 96.05% of the company’s stock.

Surgery Partners Company Profile

Surgery Partners, Inc, through its subsidiaries, owns and operates a network of surgical facilities and related services 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.

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