Surgery Partners, Inc. (NASDAQ:SGRY) Forecasted to Post Q2 2024 Earnings of $0.11 Per Share

Surgery Partners, Inc. (NASDAQ:SGRY - Free Report) - Investment analysts at Leerink Partnrs lowered their Q2 2024 EPS estimates for shares of Surgery Partners in a research note issued on Wednesday, March 27th. Leerink Partnrs analyst W. Mayo now anticipates that the company will post earnings per share of $0.11 for the quarter, down from their previous forecast of $0.12. The consensus estimate for Surgery Partners' current full-year earnings is $0.82 per share. Leerink Partnrs also issued estimates for Surgery Partners' Q4 2024 earnings at $0.48 EPS, FY2024 earnings at $0.84 EPS, Q1 2025 earnings at $0.11 EPS, Q2 2025 earnings at $0.18 EPS, Q3 2025 earnings at $0.29 EPS, Q4 2025 earnings at $0.55 EPS, FY2026 earnings at $1.43 EPS and FY2027 earnings at $1.76 EPS.

A number of other research analysts have also recently issued reports on SGRY. Citigroup decreased their price objective on shares of Surgery Partners from $43.00 to $42.00 and set a "buy" rating for the company in a report on Tuesday, February 27th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $49.00 price target on shares of Surgery Partners in a research note on Thursday, February 29th. Barclays began coverage on Surgery Partners in a report on Wednesday, March 6th. They set an "equal weight" rating and a $35.00 price objective for the company. TheStreet upgraded shares of Surgery Partners from a "d+" rating to a "c-" rating in a report on Friday, December 1st. Finally, StockNews.com raised shares of Surgery Partners from a "sell" rating to a "hold" rating in a research report on Thursday, March 21st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $43.63.

Surgery Partners Trading Down 0.4 %

SGRY traded down $0.11 during midday trading on Friday, reaching $29.83. 743,946 shares of the company were exchanged, compared to its average volume of 831,405. The stock has a market capitalization of $3.78 billion, a P/E ratio of -298.30 and a beta of 2.72. Surgery Partners has a one year low of $22.05 and a one year high of $45.79. The stock's 50-day simple moving average is $31.14 and its 200 day simple moving average is $30.26. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.57 and a current ratio of 1.71.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its quarterly earnings results on Monday, February 26th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.07. Surgery Partners had a positive return on equity of 3.65% and a negative net margin of 0.43%. The company had revenue of $735.40 million during the quarter, compared to the consensus estimate of $741.93 million. During the same quarter in the prior year, the company posted $0.22 EPS. The firm's revenue was up 4.0% on a year-over-year basis.

Insider Buying and Selling

In other news, insider Bradley R. Owens sold 1,040 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $35.22, for a total transaction of $36,628.80. Following the sale, the insider now directly owns 73,149 shares of the company's stock, valued at approximately $2,576,307.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Surgery Partners news, insider Bradley R. Owens sold 1,040 shares of the business's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $35.22, for a total transaction of $36,628.80. Following the completion of the transaction, the insider now directly owns 73,149 shares in the company, valued at $2,576,307.78. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jason Eric Evans sold 4,840 shares of Surgery Partners stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $29.71, for a total value of $143,796.40. Following the completion of the transaction, the chief executive officer now owns 459,670 shares in the company, valued at approximately $13,656,795.70. The disclosure for this sale can be found here. Insiders have sold 18,774 shares of company stock valued at $608,352 over the last 90 days. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Surgery Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Lazard Asset Management LLC bought a new stake in shares of Surgery Partners during the second quarter worth $27,000. PNC Financial Services Group Inc. raised its position in Surgery Partners by 85.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,033 shares of the company's stock valued at $29,000 after purchasing an additional 476 shares during the last quarter. Pinebridge Investments L.P. acquired a new stake in shares of Surgery Partners during the second quarter valued at about $38,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Surgery Partners during the third quarter worth about $39,000. Finally, Comerica Bank bought a new position in Surgery Partners in the 3rd quarter valued at approximately $41,000.

About Surgery Partners

Surgery Partners, Inc, together with its subsidiaries, owns and operates a network of surgical facilities and ancillary services in the United States. The company provides 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.