Surgery Partners, Inc. (NASDAQ:SGRY) Receives $39.86 Consensus Price Target from Brokerages

Surgery Partners, Inc. (NASDAQ:SGRY) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $39.86.

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Surgery Partners from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Macquarie started coverage on shares of Surgery Partners in a research report on Friday, June 28th. They issued an “outperform” rating and a $31.00 price objective on the stock. Citigroup decreased their target price on shares of Surgery Partners from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $43.00 price target on shares of Surgery Partners in a report on Tuesday, July 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $49.00 price objective on shares of Surgery Partners in a report on Wednesday, August 7th.

Insiders Place Their Bets

In other news, insider Danielle Burkhalter sold 6,000 shares of Surgery Partners stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $26.39, for a total transaction of $158,340.00. Following the transaction, the insider now directly owns 30,354 shares in the company, valued at approximately $801,042.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SGRY. Janus Henderson Group PLC grew its holdings in shares of Surgery Partners by 7,987.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,504,248 shares of the company’s stock worth $74,701,000 after acquiring an additional 2,473,282 shares during the last quarter. Deerfield Management Company L.P. Series C raised its holdings in Surgery Partners by 47.7% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 4,707,287 shares of the company’s stock worth $111,986,000 after buying an additional 1,520,484 shares during the period. Point72 Asset Management L.P. purchased a new stake in Surgery Partners during the second quarter valued at about $29,288,000. Iron Triangle Partners LP acquired a new position in shares of Surgery Partners in the fourth quarter worth about $33,415,000. Finally, Norges Bank purchased a new position in shares of Surgery Partners in the fourth quarter worth approximately $25,765,000.

Surgery Partners Stock Down 3.2 %

SGRY stock opened at $29.02 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.69 and a debt-to-equity ratio of 0.96. The firm has a 50 day simple moving average of $26.93 and a 200-day simple moving average of $27.83. The company has a market capitalization of $3.69 billion, a P/E ratio of 41.04, a PEG ratio of 1.70 and a beta of 2.78. Surgery Partners has a twelve month low of $22.05 and a twelve month high of $37.83.

Surgery Partners (NASDAQ:SGRY) last issued its earnings results on Tuesday, August 6th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. Surgery Partners had a negative net margin of 1.17% and a positive return on equity of 2.96%. The business had revenue of $762.10 million for the quarter, compared to analyst estimates of $735.94 million. During the same quarter in the prior year, the business posted $0.25 EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, equities research analysts predict that Surgery Partners will post 0.87 earnings per share for the current fiscal year.

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.