Surgery Partners (NASDAQ:SGRY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Surgery Partners, Inc. is a healthcare services company. The Company’s outpatient delivery model focused on providing solutions for surgical and related ancillary care in support of its patients and physicians. Its operating segment consists of Surgical Facility Services segment, Ancillary Services segment and Optical Services segment. Surgery Partners, Inc. is based in Nashville, Tennessee. “

A number of other brokerages have also issued reports on SGRY. ValuEngine raised shares of Surgery Partners from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. BidaskClub lowered shares of Surgery Partners from a “hold” rating to a “sell” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.33.

Shares of NASDAQ SGRY traded down $0.12 during mid-day trading on Wednesday, reaching $7.08. The company’s stock had a trading volume of 4,102 shares, compared to its average volume of 322,760. The stock has a 50-day moving average of $7.04 and a two-hundred day moving average of $8.65. The stock has a market capitalization of $356.23 million, a P/E ratio of -2.90 and a beta of 2.34. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.32 and a current ratio of 1.43. Surgery Partners has a 1-year low of $5.38 and a 1-year high of $15.66.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.13). Surgery Partners had a negative net margin of 11.61% and a negative return on equity of 4.65%. The firm had revenue of $445.40 million during the quarter, compared to analysts’ expectations of $450.89 million. During the same period in the prior year, the company posted ($0.57) EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Analysts predict that Surgery Partners will post -0.97 EPS for the current fiscal year.

In other news, COO Jason Eric Evans acquired 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was purchased at an average price of $5.95 per share, with a total value of $148,750.00. Following the completion of the acquisition, the chief operating officer now owns 111,655 shares of the company’s stock, valued at approximately $664,347.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Clearbridge Investments LLC boosted its stake in Surgery Partners by 3.9% during the first quarter. Clearbridge Investments LLC now owns 3,667,811 shares of the company’s stock worth $41,373,000 after buying an additional 138,158 shares during the period. Vanguard Group Inc. boosted its stake in Surgery Partners by 13.0% during the second quarter. Vanguard Group Inc. now owns 1,757,150 shares of the company’s stock worth $14,303,000 after buying an additional 202,617 shares during the period. BlackRock Inc. boosted its stake in Surgery Partners by 22.8% during the second quarter. BlackRock Inc. now owns 1,713,219 shares of the company’s stock worth $13,945,000 after buying an additional 318,648 shares during the period. AMI Asset Management Corp boosted its stake in Surgery Partners by 25.3% during the second quarter. AMI Asset Management Corp now owns 933,861 shares of the company’s stock worth $7,601,000 after buying an additional 188,585 shares during the period. Finally, Citadel Advisors LLC boosted its stake in Surgery Partners by 17.4% during the second quarter. Citadel Advisors LLC now owns 544,948 shares of the company’s stock worth $4,436,000 after buying an additional 80,775 shares during the period. 96.32% of the stock is owned by hedge funds and other institutional investors.

About Surgery Partners

Surgery Partners, Inc, through its subsidiaries, owns and operates a network of surgical facilities and related services in the United States. The company operates through three segments: Surgical Facility Services, Ancillary Services, and Optical Services. Its surgical facilities comprise ambulatory surgery centers and surgical hospitals that offer non-emergency surgical procedures in various specialties, including gastroenterology, general surgery, ophthalmology, orthopedics, and pain management.

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