Surgery Partners (SGRY) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

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Surgery Partners (NASDAQ:SGRY) issued its quarterly earnings results on Wednesday. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.01), MarketWatch Earnings reports. Surgery Partners had a negative return on equity of 1.67% and a negative net margin of 5.56%. The business had revenue of $443.90 million for the quarter, compared to analyst estimates of $440.38 million. During the same quarter in the prior year, the firm earned ($0.02) EPS. The firm’s quarterly revenue was up 44.9% compared to the same quarter last year. Surgery Partners updated its FY 2018 guidance to EPS.

Surgery Partners stock traded down $0.17 during midday trading on Wednesday, hitting $13.75. 609,023 shares of the stock were exchanged, compared to its average volume of 330,929. Surgery Partners has a 52 week low of $7.55 and a 52 week high of $19.95. The firm has a market capitalization of $704.19 million, a price-to-earnings ratio of -16.36 and a beta of 2.02. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.59 and a quick ratio of 1.44.

Several brokerages have recently commented on SGRY. ValuEngine upgraded shares of Surgery Partners from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 1st. Leerink Swann lifted their price target on shares of Surgery Partners from $20.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, August 13th. BidaskClub upgraded shares of Surgery Partners from a “sell” rating to a “hold” rating in a research report on Thursday, October 18th. Zacks Investment Research upgraded shares of Surgery Partners from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Thursday, August 16th. Finally, Bank of America upgraded shares of Surgery Partners from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 18th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $18.83.

In related news, insider Brandan Lingle sold 10,000 shares of Surgery Partners stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $18.15, for a total transaction of $181,500.00. Following the transaction, the insider now owns 20,393 shares of the company’s stock, valued at approximately $370,132.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.20% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC boosted its stake in Surgery Partners by 493.2% during the 2nd quarter. Wolverine Asset Management LLC now owns 70,163 shares of the company’s stock worth $1,045,000 after acquiring an additional 58,336 shares during the last quarter. Highland Capital Management LP boosted its stake in Surgery Partners by 171.3% during the 2nd quarter. Highland Capital Management LP now owns 323,700 shares of the company’s stock worth $4,823,000 after acquiring an additional 204,400 shares during the last quarter. Citadel Advisors LLC bought a new position in Surgery Partners during the 2nd quarter worth approximately $318,000. Bank of Montreal Can bought a new position in Surgery Partners during the 2nd quarter worth approximately $149,000. Finally, Dimensional Fund Advisors LP boosted its stake in Surgery Partners by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 571,218 shares of the company’s stock worth $8,512,000 after acquiring an additional 29,643 shares during the last quarter. 97.84% of the stock is currently owned by institutional investors and hedge funds.

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Surgery Partners Company Profile

Surgery Partners, Inc, through its subsidiaries, operates surgical facilities 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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Earnings History for Surgery Partners (NASDAQ:SGRY)

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