Brokerages Set Surgery Partners, Inc. (NASDAQ:SGRY) Target Price at $36.56

Surgery Partners, Inc. (NASDAQ:SGRY) has received a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $36.56.

A number of analysts have recently commented on SGRY shares. JPMorgan Chase & Co. cut their target price on Surgery Partners from $38.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 3rd. Macquarie reaffirmed an “outperform” rating and set a $34.00 price target on shares of Surgery Partners in a research report on Tuesday, November 19th. Bank of America initiated coverage on Surgery Partners in a research note on Monday, December 16th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Royal Bank of Canada lowered their target price on shares of Surgery Partners from $49.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th.

Surgery Partners Stock Performance

Shares of SGRY opened at $24.00 on Thursday. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of -50.00, a price-to-earnings-growth ratio of 19.21 and a beta of 2.60. Surgery Partners has a 52-week low of $19.50 and a 52-week high of $33.97. The company has a quick ratio of 1.66, a current ratio of 1.80 and a debt-to-equity ratio of 0.99. The stock has a 50 day moving average price of $23.09 and a 200 day moving average price of $26.41.

Surgery Partners (NASDAQ:SGRY) last issued its earnings results on Monday, March 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. Surgery Partners had a negative net margin of 2.03% and a positive return on equity of 2.85%. Research analysts predict that Surgery Partners will post 0.67 EPS for the current fiscal year.

Insider Activity at Surgery Partners

In related news, CFO David T. Doherty sold 13,641 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $25.61, for a total transaction of $349,346.01. Following the completion of the transaction, the chief financial officer now directly owns 108,862 shares of the company’s stock, valued at $2,787,955.82. This represents a 11.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Harrison R. Bane sold 56,315 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $25.64, for a total transaction of $1,443,916.60. Following the completion of the sale, the insider now owns 107,037 shares of the company’s stock, valued at approximately $2,744,428.68. The trade was a 34.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,733 shares of company stock worth $2,480,106 in the last three months. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Surgery Partners

Large investors have recently modified their holdings of the business. FMR LLC boosted its stake in shares of Surgery Partners by 3.1% in the third quarter. FMR LLC now owns 18,311,867 shares of the company’s stock valued at $590,375,000 after buying an additional 546,869 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Surgery Partners by 110.2% during the 4th quarter. Janus Henderson Group PLC now owns 11,554,845 shares of the company’s stock worth $244,616,000 after purchasing an additional 6,057,477 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Surgery Partners by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 7,618,404 shares of the company’s stock worth $161,282,000 after purchasing an additional 172,271 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Surgery Partners by 18.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,577,861 shares of the company’s stock valued at $75,739,000 after purchasing an additional 563,812 shares in the last quarter. Finally, King Street Capital Management L.P. lifted its stake in shares of Surgery Partners by 93.1% in the fourth quarter. King Street Capital Management L.P. now owns 2,800,000 shares of the company’s stock valued at $59,276,000 after purchasing an additional 1,350,000 shares during the period.

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.