Surgery Partners' 3Q Results Highlight Improving Growth Trends; Maintaining $19 FVE
No-moat Surgery Partners reported third-quarter results that continue to showcase the progress management has made in improving the firm's operations. A return to organic case growth, ongoing portfolio improvement efforts, and expanding profitability all help to position the firm for continued success in the years ahead. As we make small tweaks to our near-term forecast, our longer-term outlook remains unchanged, and we intend to maintain our $19 per share fair value estimate, which implies roug...Surgery Partners is a holding company. Through its subsidiaries, the company is a healthcare services company. The company operates in three reporting segments : Surgical Facility Services, which consists of the operation of ambulatory surgery centers (ASCs) and surgical hospitals; Ancillary Services, which consists of a diagnostic laboratory and multi-specialty physician practices; and Optical Services, which consists of an optical laboratory and an optical products group purchasing organization. As of Dec 31 2017, the company owned or operated primarily in partnership with physicians, a portfolio of 124 surgical facilities comprised of 106 ASCs and 18 surgical hospitals across 32 states.
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