Surgery Partners (NASDAQ:SGRY) Announces Quarterly Earnings Results

Surgery Partners (NASDAQ:SGRY) issued its earnings results on Tuesday. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01, Briefing.com reports. Surgery Partners had a return on equity of 3.65% and a net margin of 0.02%. The business had revenue of $762.10 million during the quarter, compared to the consensus estimate of $735.94 million. During the same period in the prior year, the business posted $0.25 EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. Surgery Partners updated its FY 2024 guidance to EPS.

Surgery Partners Stock Performance

Surgery Partners stock traded down $0.53 on Wednesday, reaching $29.11. 479,416 shares of the stock were exchanged, compared to its average volume of 991,443. The stock has a market cap of $3.70 billion, a PE ratio of 35.14, a PEG ratio of 2.21 and a beta of 2.78. The firm has a fifty day moving average price of $26.45 and a two-hundred day moving average price of $27.92. Surgery Partners has a twelve month low of $22.05 and a twelve month high of $37.83. The company has a current ratio of 1.71, a quick ratio of 1.56 and a debt-to-equity ratio of 0.92.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $49.00 price target on shares of Surgery Partners in a report on Wednesday. Citigroup dropped their price objective on Surgery Partners from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $43.00 target price on shares of Surgery Partners in a research report on Tuesday, July 9th. Macquarie began coverage on shares of Surgery Partners in a report on Friday, June 28th. They issued an “outperform” rating and a $31.00 price objective for the company. Finally, Benchmark reissued a “buy” rating and set a $50.00 target price on shares of Surgery Partners in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.14.

Insider Transactions at Surgery Partners

In other Surgery Partners news, insider Danielle Burkhalter sold 6,000 shares of Surgery Partners stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $26.39, for a total value of $158,340.00. Following the transaction, the insider now directly owns 30,354 shares of the company’s stock, valued at approximately $801,042.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.30% of the stock is currently owned by corporate insiders.

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.