Surgery Partners (NASDAQ:SGRY) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Key Points

• Surgery Partners beat quarterly expectations, reporting adjusted EPS of $0.10 versus the $0.06 consensus estimate. Revenue reached $848.90 million, exceeding analyst expectations of $830.03 million.
• The stock opened at $15.53, with a 52-week range of $11.41 to $24.10 and a market capitalization of approximately $2.03 billion. Despite a positive 1.04% return on equity, the company posted a negative 2.28% net margin.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $21.60; institutional investors including BNP Paribas Financial Markets and Natixis Advisors recently increased their holdings.

Surgery Partners (NASDAQ:SGRY - Get Free Report) announced its earnings results on Monday. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.06 by $0.04, FiscalAI reports. Surgery Partners had a positive return on equity of 1.04% and a negative net margin of 2.28%.The company had revenue of $848.90 million for the quarter, compared to analyst estimates of $830.03 million.

Surgery Partners Stock Performance

NASDAQ:SGRY opened at $15.53 on Monday. Surgery Partners has a 1 year low of $11.41 and a 1 year high of $24.10. The stock's fifty day moving average price is $15.43 and its two-hundred day moving average price is $14.43. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.86 and a quick ratio of 1.69. The company has a market cap of $2.03 billion, a P/E ratio of -25.88, a P/E/G ratio of 4.64 and a beta of 1.92.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SGRY. Jefferies Financial Group reaffirmed a "buy" rating and set a $17.00 target price on shares of Surgery Partners in a research report on Wednesday, May 6th. Zacks Research upgraded shares of Surgery Partners from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 4th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Surgery Partners in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Surgery Partners has a consensus rating of "Moderate Buy" and an average target price of $21.60.

Institutional Investors Weigh In On Surgery Partners

Large investors have recently added to or reduced their stakes in the business. Brevan Howard Capital Management LP purchased a new position in Surgery Partners in the 3rd quarter worth approximately $356,000. Certuity LLC purchased a new stake in Surgery Partners during the 3rd quarter valued at $246,000. BNP Paribas Financial Markets boosted its stake in Surgery Partners by 111.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 16,104 shares of the company's stock valued at $348,000 after purchasing an additional 8,504 shares during the last quarter. Natixis Advisors LLC increased its holdings in shares of Surgery Partners by 18.6% in the 3rd quarter. Natixis Advisors LLC now owns 13,994 shares of the company's stock worth $303,000 after purchasing an additional 2,193 shares in the last quarter. Finally, Headlands Technologies LLC increased its holdings in shares of Surgery Partners by 101.8% in the 2nd quarter. Headlands Technologies LLC now owns 16,556 shares of the company's stock worth $368,000 after purchasing an additional 8,353 shares in the last quarter.

About Surgery Partners

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.

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