Surgery Partners, Inc. (NASDAQ:SGRY) Receives $21.60 Average Price Target from Brokerages

Surgery Partners, Inc. (NASDAQ:SGRY) has been given an average rating of “Moderate Buy” by the eleven analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $19.4545.

SGRY has been the topic of several recent analyst reports. TD Cowen increased their target price on shares of Surgery Partners from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday. Jefferies Financial Group restated a “buy” rating and set a $17.00 price target on shares of Surgery Partners in a research report on Wednesday, May 6th. Zacks Research downgraded Surgery Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday. Benchmark reissued a “buy” rating on shares of Surgery Partners in a research note on Tuesday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $18.00 target price on shares of Surgery Partners in a research report on Tuesday.

Surgery Partners Stock Up 2.1%

SGRY stock opened at $15.32 on Thursday. The company has a quick ratio of 1.69, a current ratio of 1.86 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $2.01 billion, a PE ratio of -21.89, a PEG ratio of 4.07 and a beta of 1.91. Surgery Partners has a twelve month low of $11.41 and a twelve month high of $24.10. The stock has a 50-day simple moving average of $15.55 and a two-hundred day simple moving average of $14.42.

Surgery Partners (NASDAQ:SGRY) last announced its quarterly earnings results 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. The firm had revenue of $848.90 million for the quarter, compared to the consensus estimate of $830.03 million. Surgery Partners had a negative net margin of 2.63% and a positive return on equity of 0.87%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 earnings per share. On average, equities analysts predict that Surgery Partners will post 0.25 EPS for the current fiscal year.

Institutional Trading of Surgery Partners

A number of large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Surgery Partners by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,693 shares of the company’s stock worth $1,085,000 after purchasing an additional 2,015 shares during the last quarter. Millennium Management LLC raised its stake in Surgery Partners by 1,253.7% in the first quarter. Millennium Management LLC now owns 202,274 shares of the company’s stock valued at $4,804,000 after purchasing an additional 219,806 shares in the last quarter. Empowered Funds LLC lifted its position in Surgery Partners by 11.0% during the first quarter. Empowered Funds LLC now owns 12,853 shares of the company’s stock valued at $305,000 after purchasing an additional 1,278 shares during the last quarter. Prudential Financial Inc. purchased a new position in Surgery Partners in the 2nd quarter worth approximately $219,000. Finally, Invesco Ltd. grew its stake in Surgery Partners by 7.4% in the 2nd quarter. Invesco Ltd. now owns 1,683,311 shares of the company’s stock worth $37,420,000 after buying an additional 115,627 shares in the last quarter.

Surgery Partners Company Profile

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.