Surgery Partners, Inc. (NASDAQ:SGRY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Surgery Partners, Inc. (NASDAQ:SGRY) has earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $19.00.

Several brokerages have recently weighed in on SGRY. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $18.00 price target on shares of Surgery Partners in a research note on Tuesday, August 11th. Zacks Research lowered shares of Surgery Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Royal Bank Of Canada restated an “outperform” rating and set a $19.00 target price on shares of Surgery Partners in a report on Wednesday. Raymond James Financial set a $18.00 target price on shares of Surgery Partners in a research report on Tuesday, August 11th. Finally, TD Cowen reiterated a “buy” rating and issued a $19.00 price target on shares of Surgery Partners in a research note on Friday, September 18th.

Surgery Partners Stock Performance

Shares of Surgery Partners stock opened at $13.23 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.95 and a quick ratio of 1.78. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -18.90, a price-to-earnings-growth ratio of 4.29 and a beta of 1.90. The stock’s 50-day moving average is $14.55 and its 200-day moving average is $14.30. Surgery Partners has a one year low of $11.41 and a one year high of $23.44.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. Surgery Partners had a positive return on equity of 0.88% and a negative net margin of 2.63%.The business had revenue of $848.90 million during the quarter, compared to the consensus estimate of $830.03 million. During the same period last year, the company earned $0.17 earnings per share. Surgery Partners’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts predict that Surgery Partners will post 0.25 earnings per share for the current fiscal year.

Insider Transactions at Surgery Partners

In other news, Director Teresa DeLuca purchased 10,000 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were purchased at an average cost of $14.35 per share, with a total value of $143,500.00. Following the completion of the transaction, the director owned 66,843 shares of the company’s stock, valued at $959,197.05. The trade was a 17.59% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Surgery Partners

A number of institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new position in Surgery Partners during the second quarter worth approximately $38,000. PNC Financial Services Group Inc. lifted its position in shares of Surgery Partners by 239.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,907 shares of the company’s stock valued at $35,000 after buying an additional 2,051 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Surgery Partners by 5,324.0% in the first quarter. Fifth Third Bancorp now owns 4,068 shares of the company’s stock valued at $48,000 after buying an additional 3,993 shares during the last quarter. Alpine Global Management LLC bought a new position in shares of Surgery Partners during the 4th quarter worth approximately $175,000. Finally, Empowered Funds LLC bought a new position in shares of Surgery Partners during the 2nd quarter worth approximately $216,000.

About Surgery Partners

Surgery Partners, Inc (NASDAQ:SGRY) is a healthcare services company that operates and manages ambulatory surgery centers and surgical hospitals in partnership with physicians and health systems. Its facilities provide scheduled surgical care in outpatient and inpatient settings, with an emphasis on procedures that generally do not require extended hospital stays.

The company supports a range of specialties, including orthopedics, pain management, ophthalmology, gastroenterology, gynecology, and general surgery.