Surgery Partners Inc (SGRY) Expected to Announce Quarterly Sales of $449.18 Million

Wall Street analysts forecast that Surgery Partners Inc (NASDAQ:SGRY) will announce sales of $449.18 million for the current quarter, Zacks reports. Four analysts have provided estimates for Surgery Partners’ earnings. The highest sales estimate is $451.52 million and the lowest is $448.00 million. Surgery Partners posted sales of $444.78 million during the same quarter last year, which suggests a positive year-over-year growth rate of 1%. The firm is expected to announce its next quarterly earnings report on Thursday, August 8th.

According to Zacks, analysts expect that Surgery Partners will report full year sales of $1.85 billion for the current financial year, with estimates ranging from $1.82 billion to $1.88 billion. For the next financial year, analysts expect that the business will post sales of $2.01 billion, with estimates ranging from $1.91 billion to $2.12 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Surgery Partners.

Surgery Partners (NASDAQ:SGRY) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.42) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.03). Surgery Partners had a negative net margin of 11.59% and a negative return on equity of 4.01%. The business had revenue of $416.80 million during the quarter, compared to analyst estimates of $421.41 million. During the same period in the previous year, the company posted ($0.26) earnings per share. Surgery Partners’s revenue was up 1.3% compared to the same quarter last year.

SGRY has been the subject of a number of research analyst reports. BidaskClub downgraded shares of Surgery Partners from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Zacks Investment Research upgraded Surgery Partners from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 24th. ValuEngine downgraded Surgery Partners from a “buy” rating to a “hold” rating in a report on Thursday, February 7th. Finally, Stifel Nicolaus set a $12.00 price objective on Surgery Partners and gave the stock a “hold” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Surgery Partners presently has a consensus rating of “Hold” and an average target price of $17.60.

NASDAQ SGRY traded up $0.28 on Friday, reaching $10.28. The company’s stock had a trading volume of 527,139 shares, compared to its average volume of 248,151. Surgery Partners has a twelve month low of $9.14 and a twelve month high of $18.70. The company has a current ratio of 1.49, a quick ratio of 1.56 and a debt-to-equity ratio of 2.20. The company has a market capitalization of $498.73 million, a price-to-earnings ratio of -4.20 and a beta of 2.47.

In other Surgery Partners news, Director Adam T. Feinstein sold 7,865 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $9.95, for a total transaction of $78,256.75. Following the sale, the director now owns 8,895 shares in the company, valued at approximately $88,505.25. The transaction was disclosed in a filing with the SEC, which is available through this link. 8.20% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Citigroup Inc. raised its holdings in Surgery Partners by 40.5% during the 1st quarter. Citigroup Inc. now owns 3,512 shares of the company’s stock worth $40,000 after buying an additional 1,013 shares during the period. Quantamental Technologies LLC acquired a new stake in Surgery Partners during the 1st quarter worth about $50,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Surgery Partners during the 4th quarter worth about $54,000. Metropolitan Life Insurance Co. NY raised its holdings in Surgery Partners by 351.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,766 shares of the company’s stock worth $66,000 after buying an additional 5,267 shares during the period. Finally, Menta Capital LLC acquired a new position in shares of Surgery Partners in the 4th quarter valued at about $99,000. Hedge funds and other institutional investors own 96.33% of the company’s stock.

Surgery Partners Company Profile

Surgery Partners, Inc, through its subsidiaries, owns and operates a network of surgical facilities and related services 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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