Surgery Partners (NASDAQ:SGRY) Issues Quarterly Earnings Results

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

Surgery Partners Stock Down 1.8 %

Shares of NASDAQ:SGRY traded down $0.53 during midday trading on Wednesday, reaching $29.11. 479,416 shares of the company were exchanged, compared to its average volume of 991,443. The firm has a market cap of $3.70 billion, a PE ratio of 35.14, a P/E/G ratio of 2.21 and a beta of 2.78. Surgery Partners has a fifty-two week low of $22.05 and a fifty-two week high of $37.83. The stock has a fifty day simple moving average of $26.45 and a two-hundred day simple moving average of $27.92. The company has a quick ratio of 1.56, a current ratio of 1.71 and a debt-to-equity ratio of 0.92.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SGRY. Cantor Fitzgerald restated an “overweight” rating and issued a $43.00 price objective on shares of Surgery Partners in a report on Tuesday, July 9th. Royal Bank of Canada restated an “outperform” rating and issued a $49.00 price target on shares of Surgery Partners in a research report on Wednesday. Citigroup dropped their price objective on Surgery Partners from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Macquarie started coverage on Surgery Partners in a report on Friday, June 28th. They set an “outperform” rating and a $31.00 target price on the stock. Finally, Benchmark reaffirmed a “buy” rating and issued a $50.00 price target on shares of Surgery Partners in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Surgery Partners presently has a consensus rating of “Moderate Buy” and an average target price of $40.14.

Insider Buying and Selling

In other Surgery Partners news, insider Danielle Burkhalter sold 6,000 shares of Surgery Partners stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $26.39, for a total value of $158,340.00. Following the sale, the insider now owns 30,354 shares of the company’s stock, valued at approximately $801,042.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.30% of the company’s stock.

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.