BidaskClub Lowers Surgery Partners (NASDAQ:SGRY) to Strong Sell

Surgery Partners (NASDAQ:SGRY) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Wednesday, June 26th, BidAskClub reports.

Several other equities research analysts also recently issued reports on SGRY. Zacks Investment Research downgraded shares of HEXO from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Stifel Nicolaus upgraded shares of Protagonist Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $11.00 to $17.00 in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $17.60.

SGRY stock traded down $0.40 during trading hours on Wednesday, reaching $7.10. 255,306 shares of the stock were exchanged, compared to its average volume of 294,133. The firm’s 50-day simple moving average is $8.35. The company has a market cap of $378.62 million, a P/E ratio of -2.90 and a beta of 2.28. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.37 and a current ratio of 1.49. Surgery Partners has a 12 month low of $7.07 and a 12 month high of $18.70.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.42) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.03). Surgery Partners had a negative net margin of 11.59% and a negative return on equity of 4.01%. The company had revenue of $416.80 million during the quarter, compared to the consensus estimate of $421.41 million. During the same quarter in the previous year, the business earned ($0.26) EPS. Surgery Partners’s revenue was up 1.3% on a year-over-year basis. Equities analysts expect that Surgery Partners will post -0.59 earnings per share for the current year.

In related news, Director Adam T. Feinstein sold 7,865 shares of Surgery Partners stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $9.95, for a total value of $78,256.75. Following the transaction, the director now directly owns 8,895 shares of the company’s stock, valued at $88,505.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.30% of the company’s stock.

Large investors have recently made changes to their positions in the stock. FMR LLC bought a new stake in shares of Surgery Partners during the first quarter worth $6,029,000. BlackRock Inc. grew its stake in shares of Surgery Partners by 16.9% in the fourth quarter. BlackRock Inc. now owns 1,452,957 shares of the company’s stock worth $14,225,000 after purchasing an additional 209,539 shares during the last quarter. Elk Creek Partners LLC grew its stake in shares of Surgery Partners by 17.9% in the fourth quarter. Elk Creek Partners LLC now owns 1,303,594 shares of the company’s stock worth $12,762,000 after purchasing an additional 197,872 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Surgery Partners in the fourth quarter worth $1,595,000. Finally, Clearbridge Investments LLC lifted its holdings in Surgery Partners by 3.9% in the first quarter. Clearbridge Investments LLC now owns 3,667,811 shares of the company’s stock valued at $41,373,000 after buying an additional 138,158 shares during the period. 96.75% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Surgery Partners (NASDAQ:SGRY)

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