Surgery Partners (NASDAQ:SGRY) Given Sell (D-) Rating at Weiss Ratings

Key Points

• Surgery Partners (NASDAQ:SGRY) has been assigned a "sell (D-)" rating by Weiss Ratings, while six other analysts have rated the stock as a buy, leading to a consensus rating of "Moderate Buy" and a price target of $32.00.
• The company reported better-than-expected earnings with $0.17 EPS for the quarter, surpassing analyst projections, alongside a revenue increase of 8.4% year-over-year.
• Recent insider selling included Harrison R. Bane, who sold 9,339 shares, reducing his stake by 7.38%, highlighting potential concerns about company performance.

Surgery Partners (NASDAQ:SGRY - Get Free Report)'s stock had its "sell (d-)" rating reissued by analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other analysts also recently commented on the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $36.00 price objective on shares of Surgery Partners in a research report on Tuesday. Bank of America assumed coverage on Surgery Partners in a research report on Monday, July 28th. They issued a "buy" rating and a $28.00 price objective for the company. Finally, JPMorgan Chase & Co. assumed coverage on Surgery Partners in a research report on Thursday, September 18th. They issued a "neutral" rating and a $27.00 price objective for the company. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $32.00.

Surgery Partners Stock Performance

SGRY opened at $20.58 on Wednesday. The firm has a market capitalization of $2.64 billion, a P/E ratio of -14.39 and a beta of 1.83. The stock's 50 day moving average price is $22.19 and its two-hundred day moving average price is $22.25. The company has a quick ratio of 1.78, a current ratio of 1.93 and a debt-to-equity ratio of 1.10. Surgery Partners has a 12-month low of $18.87 and a 12-month high of $33.37.

Surgery Partners (NASDAQ:SGRY - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.01. The firm had revenue of $826.20 million for the quarter, compared to analyst estimates of $816.96 million. Surgery Partners had a positive return on equity of 2.51% and a negative net margin of 5.57%.The company's revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 EPS. On average, equities analysts forecast that Surgery Partners will post 0.67 earnings per share for the current year.

Insider Activity at Surgery Partners

In related news, insider Harrison R. Bane sold 9,339 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $22.48, for a total transaction of $209,940.72. Following the completion of the transaction, the insider owned 117,181 shares in the company, valued at $2,634,228.88. This trade represents a 7.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Teresa Deluca sold 20,018 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $22.74, for a total value of $455,209.32. Following the transaction, the director owned 45,173 shares of the company's stock, valued at $1,027,234.02. This trade represents a 30.71% decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Surgery Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. AlphaQuest LLC lifted its position in shares of Surgery Partners by 112.0% during the 1st quarter. AlphaQuest LLC now owns 1,058 shares of the company's stock worth $25,000 after buying an additional 559 shares during the period. PNC Financial Services Group Inc. increased its holdings in Surgery Partners by 86.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company's stock valued at $28,000 after purchasing an additional 542 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Surgery Partners during the 1st quarter valued at $31,000. DekaBank Deutsche Girozentrale acquired a new stake in Surgery Partners during the 1st quarter valued at $65,000. Finally, FNY Investment Advisers LLC acquired a new stake in Surgery Partners during the 2nd quarter valued at $115,000.

Surgery Partners Company Profile

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.

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