Surgery Partners, Inc. (NASDAQ:SGRY) to Post Q2 2024 Earnings of $0.11 Per Share, Leerink Partnrs Forecasts

Surgery Partners, Inc. (NASDAQ:SGRY) – Equities researchers at Leerink Partnrs cut their Q2 2024 EPS estimates for shares of Surgery Partners in a research note issued to investors on Wednesday, March 27th. Leerink Partnrs analyst W. Mayo now forecasts that the company will earn $0.11 per share for the quarter, down from their prior forecast of $0.12. The consensus estimate for Surgery Partners’ current full-year earnings is $0.82 per share. Leerink Partnrs also issued estimates for Surgery Partners’ Q4 2024 earnings at $0.48 EPS, FY2024 earnings at $0.84 EPS, Q1 2025 earnings at $0.11 EPS, Q2 2025 earnings at $0.18 EPS, Q3 2025 earnings at $0.29 EPS, Q4 2025 earnings at $0.55 EPS, FY2026 earnings at $1.43 EPS and FY2027 earnings at $1.76 EPS.

Surgery Partners (NASDAQ:SGRY) last posted its earnings results on Monday, February 26th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.37 by $0.07. The company had revenue of $735.40 million during the quarter, compared to analyst estimates of $741.93 million. Surgery Partners had a positive return on equity of 3.65% and a negative net margin of 0.43%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 earnings per share.

Several other equities analysts have also commented on the stock. Citigroup lowered their price target on shares of Surgery Partners from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. TheStreet raised Surgery Partners from a “d+” rating to a “c-” rating in a report on Friday, December 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $43.00 target price on shares of Surgery Partners in a research note on Tuesday, March 5th. StockNews.com raised Surgery Partners from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Finally, Barclays initiated coverage on shares of Surgery Partners in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $35.00 price objective for the company. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.63.

Surgery Partners Price Performance

Shares of NASDAQ SGRY opened at $29.83 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.71 and a debt-to-equity ratio of 0.89. Surgery Partners has a 1-year low of $22.05 and a 1-year high of $45.79. The business’s fifty day moving average price is $31.18 and its two-hundred day moving average price is $30.28.

Institutional Trading of Surgery Partners

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC acquired a new stake in shares of Surgery Partners during the second quarter valued at approximately $27,000. PNC Financial Services Group Inc. raised its stake in Surgery Partners by 85.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,033 shares of the company’s stock valued at $29,000 after purchasing an additional 476 shares during the period. Pinebridge Investments L.P. purchased a new stake in shares of Surgery Partners in the second quarter valued at $38,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Surgery Partners in the third quarter worth $39,000. Finally, Comerica Bank acquired a new stake in shares of Surgery Partners in the third quarter worth $41,000.

Insiders Place Their Bets

In other news, insider Bradley R. Owens sold 1,040 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $35.22, for a total transaction of $36,628.80. Following the completion of the transaction, the insider now owns 73,149 shares in the company, valued at approximately $2,576,307.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Surgery Partners news, insider Bradley R. Owens sold 1,040 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $35.22, for a total value of $36,628.80. Following the transaction, the insider now owns 73,149 shares of the company’s stock, valued at $2,576,307.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jason Eric Evans sold 1,984 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $29.44, for a total value of $58,408.96. Following the sale, the chief executive officer now directly owns 464,510 shares of the company’s stock, valued at $13,675,174.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,774 shares of company stock worth $608,352. 2.60% of the stock is owned by corporate insiders.

About Surgery Partners

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.