Surgery Partners (NASDAQ:SGRY) Cut to Hold at UBS Group

UBS Group lowered shares of Surgery Partners (NASDAQ:SGRY) from a buy rating to a hold rating in a research note published on Wednesday morning, MarketBeat Ratings reports. The firm currently has $23.50 target price on the stock, up from their prior target price of $21.00.

SGRY has been the topic of a number of other reports. Zacks Research downgraded shares of Surgery Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Benchmark restated a “buy” rating on shares of Surgery Partners in a report on Tuesday, August 11th. Royal Bank Of Canada lowered Surgery Partners from a “moderate buy” rating to a “hold” rating and set a $23.50 price target for the company. in a research report on Monday. Cantor Fitzgerald lowered Surgery Partners from an “overweight” rating to a “hold” rating in a research report on Monday. Finally, TD Cowen reissued a “buy” rating and set a $19.00 target price on shares of Surgery Partners in a research report on Friday, September 18th. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Surgery Partners has an average rating of “Hold” and a consensus target price of $20.14.

Surgery Partners Stock Performance

NASDAQ SGRY opened at $23.21 on Wednesday. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 116.05, a PEG ratio of 7.18 and a beta of 1.90. The company has a quick ratio of 1.78, a current ratio of 1.95 and a debt-to-equity ratio of 1.18. Surgery Partners has a 12-month low of $11.41 and a 12-month high of $23.37. The company has a 50-day simple moving average of $15.13 and a two-hundred day simple moving average of $14.64.

Surgery Partners (NASDAQ:SGRY) last released its quarterly earnings data on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.04. Surgery Partners had a negative net margin of 2.63% and a positive return on equity of 0.88%. The firm had revenue of $848.90 million during the quarter, compared to analysts’ expectations of $830.03 million. During the same period in the previous year, the company earned $0.17 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities analysts forecast that Surgery Partners will post 0.25 EPS for the current year.

Insider Buying and Selling

In other Surgery Partners news, Director Teresa DeLuca acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were acquired 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 of the company’s stock, valued at approximately $959,197.05. The trade was a 17.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new position in shares of Surgery Partners in the 2nd quarter valued at about $38,000. PNC Financial Services Group Inc. boosted its stake in shares of Surgery Partners by 239.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,907 shares of the company’s stock worth $35,000 after buying an additional 2,051 shares during the last quarter. Fifth Third Bancorp grew its holdings in Surgery Partners by 5,324.0% during the first quarter. Fifth Third Bancorp now owns 4,068 shares of the company’s stock worth $48,000 after acquiring an additional 3,993 shares during the period. Empowered Funds LLC acquired a new stake in Surgery Partners during the second quarter worth about $216,000. Finally, Vise Technologies Inc. acquired a new stake in Surgery Partners during the third quarter worth about $191,000.

About Surgery Partners

Surgery Partners, Inc is a U.S.-based healthcare services company that operates and manages ambulatory surgery centers and surgical hospitals. The company works with physicians, health systems and other healthcare providers to deliver outpatient surgical care in facilities designed for same-day procedures.

Its facilities provide surgical services across specialties such as orthopedics, pain management, ophthalmology, gastroenterology, urology, gynecology and general surgery. Surgery Partners also supports its operations with clinical, administrative and revenue-cycle services intended to help physicians and facility partners manage patient care and practice operations.

Founded in 2004 and headquartered in Brentwood, Tennessee, Surgery Partners has expanded its platform through acquisitions, joint ventures and other partnerships.