Surgery Partners, Inc. (NASDAQ:SGRY) Receives $19.45 Consensus Price Target from Analysts

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) have received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $19.4545.

A number of research analysts have recently commented on the company. TD Cowen increased their price objective on Surgery Partners from $17.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Benchmark reiterated a “buy” rating on shares of Surgery Partners in a report on Tuesday, August 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $18.00 price objective on shares of Surgery Partners in a research note on Tuesday, August 11th. Zacks Research downgraded Surgery Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Finally, Royal Bank Of Canada reduced their target price on shares of Surgery Partners from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th.

Insider Activity at Surgery Partners

In other news, Director Teresa DeLuca bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was acquired at an average cost of $14.35 per share, for a total transaction of $143,500.00. Following the completion of the purchase, the director owned 66,843 shares of the company’s stock, valued at $959,197.05. This trade represents a 17.59% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Surgery Partners

A number of hedge funds have recently made changes to their positions in SGRY. Jupiter Topco LLC acquired a new stake in shares of Surgery Partners during the 2nd quarter valued at about $233,220,000. Janus Henderson Group PLC lifted its stake in Surgery Partners by 3.8% during the fourth quarter. Janus Henderson Group PLC now owns 13,537,984 shares of the company’s stock worth $209,162,000 after purchasing an additional 501,401 shares during the period. Pentwater Capital Management LP lifted its stake in Surgery Partners by 66.9% during the third quarter. Pentwater Capital Management LP now owns 11,681,000 shares of the company’s stock worth $252,777,000 after purchasing an additional 4,681,000 shares during the period. BlackRock Inc. acquired a new stake in Surgery Partners during the second quarter valued at approximately $104,857,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Surgery Partners by 7.9% during the first quarter. Dimensional Fund Advisors LP now owns 5,296,411 shares of the company’s stock valued at $63,131,000 after purchasing an additional 389,831 shares in the last quarter.

Surgery Partners Price Performance

Shares of SGRY opened at $14.26 on Monday. The business’s 50-day moving average is $15.40 and its 200-day moving average is $14.36. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of -20.37, a P/E/G ratio of 4.40 and a beta of 1.92. Surgery Partners has a fifty-two week low of $11.41 and a fifty-two week high of $23.44. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.95 and a quick ratio of 1.78.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. Surgery Partners had a negative net margin of 2.63% and a positive return on equity of 0.88%. The business had revenue of $848.90 million for the quarter, compared to the consensus estimate of $830.03 million. During the same period in the prior year, the business posted $0.17 earnings per share. Surgery Partners’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts expect that Surgery Partners will post 0.22 EPS for the current fiscal year.

About Surgery Partners

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.