Surgery Partners (NASDAQ:SGRY) Sets New 12-Month Low Following Weak Earnings

Surgery Partners, Inc. (NASDAQ:SGRY)’s share price reached a new 52-week low during trading on Monday following a weaker than expected earnings announcement. The stock traded as low as $18.37 and last traded at $18.0250, with a volume of 6889 shares traded. The stock had previously closed at $21.50.

The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The firm had revenue of $821.50 million for the quarter, compared to analyst estimates of $823.55 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 6.6% compared to the same quarter last year. During the same period last year, the company earned $0.19 EPS. Surgery Partners has set its FY 2025 guidance at EPS.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. assumed coverage on Surgery Partners in a report on Thursday, September 18th. They issued a “neutral” rating and a $27.00 price objective for the company. Bank of America started coverage on Surgery Partners in a report on Monday, July 28th. They issued a “buy” rating and a $28.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Surgery Partners in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $36.00 price objective on shares of Surgery Partners in a research report on Tuesday, October 7th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Surgery Partners presently has an average rating of “Moderate Buy” and a consensus target price of $31.14.

Insider Transactions at Surgery Partners

In other Surgery Partners news, insider Harrison R. Bane sold 9,339 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $22.48, for a total value of $209,940.72. Following the completion of the transaction, the insider directly owned 117,181 shares in the company, valued at approximately $2,634,228.88. This trade represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Surgery Partners

Hedge funds have recently added to or reduced their stakes in the business. AlphaQuest LLC raised its stake in shares of Surgery Partners by 112.0% during the first quarter. AlphaQuest LLC now owns 1,058 shares of the company’s stock valued at $25,000 after acquiring an additional 559 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Surgery Partners by 313.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,227 shares of the company’s stock worth $27,000 after buying an additional 930 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Surgery Partners by 86.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,169 shares of the company’s stock valued at $28,000 after buying an additional 542 shares during the period. Summit Securities Group LLC bought a new position in Surgery Partners during the 1st quarter worth approximately $31,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Surgery Partners during the 1st quarter worth about $65,000.

Surgery Partners Stock Down 23.9%

The firm’s fifty day moving average price is $21.62 and its two-hundred day moving average price is $22.18. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of -11.47 and a beta of 1.85. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.93 and a quick ratio of 1.78.

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.