Surgery Partners (NASDAQ:SGRY) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of Surgery Partners (NASDAQ:SGRY) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

Other research analysts have also issued reports about the stock. Cantor Fitzgerald reissued an overweight rating and issued a $43.00 target price on shares of Surgery Partners in a research note on Thursday, September 14th. Mizuho raised their price target on shares of Surgery Partners from $48.00 to $50.00 in a report on Tuesday, July 11th. Barclays cut their price target on shares of Surgery Partners from $56.00 to $51.00 and set an overweight rating for the company in a report on Wednesday, August 2nd. Benchmark restated a buy rating and set a $50.00 price target on shares of Surgery Partners in a report on Wednesday, August 2nd. Finally, Bank of America upgraded shares of Surgery Partners from a neutral rating to a buy rating and raised their price target for the stock from $42.00 to $45.00 in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Surgery Partners presently has an average rating of Moderate Buy and an average price target of $44.09.

Surgery Partners Trading Up 0.5 %

Shares of Surgery Partners stock opened at $31.36 on Friday. The firm has a market capitalization of $3.97 billion, a PE ratio of -56.00 and a beta of 2.73. Surgery Partners has a twelve month low of $20.46 and a twelve month high of $45.79. The firm’s 50-day moving average price is $36.42 and its 200 day moving average price is $36.83. The company has a current ratio of 1.77, a quick ratio of 1.61 and a debt-to-equity ratio of 0.84.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.22. The firm had revenue of $667.60 million for the quarter, compared to analyst estimates of $667.94 million. Surgery Partners had a negative net margin of 2.04% and a positive return on equity of 1.95%. On average, sell-side analysts predict that Surgery Partners will post 0.59 EPS for the current fiscal year.

Insider Buying and Selling at Surgery Partners

In other Surgery Partners news, CEO Jason Eric Evans sold 1,892 shares of the firm’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $45.10, for a total value of $85,329.20. Following the completion of the transaction, the chief executive officer now owns 424,898 shares of the company’s stock, valued at approximately $19,162,899.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Surgery Partners news, insider Harrison R. Bane sold 3,835 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $35.98, for a total value of $137,983.30. Following the completion of the transaction, the insider now owns 46,709 shares of the company’s stock, valued at approximately $1,680,589.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jason Eric Evans sold 1,892 shares of Surgery Partners stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $45.10, for a total transaction of $85,329.20. Following the sale, the chief executive officer now directly owns 424,898 shares of the company’s stock, valued at $19,162,899.80. The disclosure for this sale can be found here. Insiders sold 5,929 shares of company stock valued at $230,425 in the last 90 days. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Surgery Partners

Institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC purchased a new stake in shares of Surgery Partners during the 2nd quarter worth $27,000. Ellevest Inc. lifted its position in shares of Surgery Partners by 123.8% during the 1st quarter. Ellevest Inc. now owns 817 shares of the company’s stock worth $28,000 after purchasing an additional 452 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Surgery Partners during the 2nd quarter worth $37,000. Pinebridge Investments L.P. purchased a new stake in shares of Surgery Partners during the 2nd quarter worth $38,000. Finally, Stonebridge Capital Advisors LLC purchased a new stake in Surgery Partners in the second quarter valued at $45,000.

About Surgery Partners

Surgery Partners, Inc, through its subsidiaries, owns and operates a network of surgical facilities and ancillary services in the United States. The company operates through two segments, Surgical Facility Services and Ancillary Services. Its surgical facilities comprise ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including orthopedics and pain management, ophthalmology, gastroenterology, and general surgery.