Surgery Partners (NASDAQ:SGRY) Announces Earnings Results, Beats Estimates By $0.05 EPS

Surgery Partners (NASDAQ:SGRY) announced its quarterly earnings data on Monday. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.11 by $0.05, FiscalAI reports. Surgery Partners had a negative net margin of 2.63% and a positive return on equity of 0.88%. The company had revenue of $815.30 million for the quarter, compared to the consensus estimate of $820.96 million.

Surgery Partners Trading Up 14.0%

Shares of NASDAQ:SGRY traded up $3.25 during trading on Monday, hitting $26.45. The company had a trading volume of 17,054,489 shares, compared to its average volume of 2,229,558. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of -37.79 and a beta of 1.85. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.95 and a quick ratio of 1.78. The company has a fifty day simple moving average of $16.04 and a two-hundred day simple moving average of $14.83. Surgery Partners has a one year low of $11.41 and a one year high of $27.23.

More Surgery Partners News

Here are the key news stories impacting Surgery Partners this week:

• Positive Sentiment: Deal activity lifted investor interest. Reports said a Bon Secours affiliate sweetened its bid for Surgery Partners, while Surgery Partners separately raised its proposed buyout price for HealthSpan to $25 per share. Bon Secours affiliate sweetens bid for Surgery Partners Surgery Partners boosts HealthSpan buyout offer
• Positive Sentiment: Adjusted earnings beat expectations. Q3 adjusted EPS was $0.16, versus analysts’ $0.11 consensus. Operating cash flow also improved to $103.5 million, and cash and equivalents rose to $354.5 million. Q3 adjusted EPS report
• Negative Sentiment: Underlying results were weaker. Revenue of $815.3 million fell short of estimates, while gross and operating profit declined. Surgery Partners reported a $21.1 million net loss attributable to common shareholders, with higher costs pressuring margins. Surgery Partners Q3 results
• Negative Sentiment: A law firm announced an investigation into the pending merger, adding some legal and execution uncertainty for shareholders. Merger investigation announcement

Insider Buying and Selling at Surgery Partners

In related news, Director Teresa DeLuca purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were bought at an average price of $14.35 per share, for a total transaction of $143,500.00. Following the acquisition, the director owned 66,843 shares of the company’s stock, valued at approximately $959,197.05. This represents a 17.59% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Weiss Ratings upgraded Surgery Partners from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 16th. UBS Group cut Surgery Partners from a “buy” rating to a “hold” rating and raised their price target for the company from $21.00 to $23.50 in a report on Wednesday, October 28th. Benchmark reaffirmed a “buy” rating on shares of Surgery Partners in a research note on Tuesday, August 11th. Stonex Financial cut shares of Surgery Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 27th. Finally, Zacks Research downgraded shares of Surgery Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Surgery Partners presently has an average rating of “Hold” and a consensus price target of $20.14.

Surgery Partners Company Profile

Surgery Partners, Inc is a U.S. healthcare services company that owns and operates ambulatory surgery centers and surgical hospitals. Its facilities provide outpatient and inpatient surgical care across a range of specialties.

The company’s services include surgical procedures and related care delivered in partnership with physicians and healthcare professionals. Its network serves patients in multiple states across the United States.

Founded in 2004, Surgery Partners has expanded its network through acquisitions and partnerships with physicians and health systems.