Surgery Partners (NASDAQ:SGRY) Downgraded by ValuEngine

ValuEngine lowered shares of Surgery Partners (NASDAQ:SGRY) from a strong-buy rating to a buy rating in a research note released on Thursday morning, ValuEngine reports.

SGRY has been the topic of several other research reports. BidaskClub raised Surgery Partners from a strong sell rating to a sell rating in a report on Thursday, March 26th. Royal Bank of Canada cut their price objective on Surgery Partners from $19.00 to $14.00 and set an outperform rating on the stock in a report on Tuesday, March 24th. Citigroup raised their price objective on Surgery Partners from $13.00 to $20.00 and gave the company a buy rating in a report on Tuesday, December 10th. Zacks Investment Research downgraded Surgery Partners from a buy rating to a hold rating in a report on Wednesday, February 5th. Finally, UBS Group lifted their target price on Surgery Partners from $12.00 to $19.00 and gave the stock a neutral rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Surgery Partners presently has an average rating of Hold and a consensus target price of $16.67.

Shares of SGRY traded up $0.41 during midday trading on Thursday, hitting $5.21. The company’s stock had a trading volume of 493,085 shares, compared to its average volume of 578,395. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 2.57. Surgery Partners has a one year low of $4.00 and a one year high of $19.74. The stock has a market capitalization of $256.80 million, a price-to-earnings ratio of -2.30 and a beta of 2.88. The company’s fifty day simple moving average is $11.72 and its two-hundred day simple moving average is $12.42.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings data on Thursday, March 5th. The company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.02). Surgery Partners had a negative net margin of 4.03% and a negative return on equity of 2.42%. The firm had revenue of $517.20 million for the quarter, compared to analyst estimates of $504.08 million. On average, research analysts predict that Surgery Partners will post -0.78 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in SGRY. Millennium Management LLC lifted its holdings in Surgery Partners by 5,528.2% during the 3rd quarter. Millennium Management LLC now owns 652,631 shares of the company’s stock worth $4,819,000 after buying an additional 664,654 shares during the period. FMR LLC acquired a new position in Surgery Partners during the 1st quarter worth about $6,029,000. Oxford Asset Management LLP acquired a new position in Surgery Partners during the 4th quarter worth about $1,476,000. Marshall Wace LLP raised its position in shares of Surgery Partners by 100.4% in the 4th quarter. Marshall Wace LLP now owns 184,906 shares of the company’s stock worth $2,893,000 after acquiring an additional 92,624 shares in the last quarter. Finally, State Street Corp raised its position in shares of Surgery Partners by 20.0% in the 3rd quarter. State Street Corp now owns 448,935 shares of the company’s stock worth $3,315,000 after acquiring an additional 74,930 shares in the last quarter. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

About Surgery Partners

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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Analyst Recommendations for Surgery Partners (NASDAQ:SGRY)

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