Surgery Partners, Inc. (NASDAQ:SGRY) Receives $36.63 Average Target Price from Analysts

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) have received a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $36.63.

A number of research firms have recently weighed in on SGRY. JPMorgan Chase & Co. dropped their price target on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, December 3rd. Bank of America began coverage on Surgery Partners in a research report on Monday, December 16th. They set a “buy” rating and a $30.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Surgery Partners in a research note on Tuesday. Finally, Macquarie cut their price objective on shares of Surgery Partners from $34.00 to $33.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th.

Insider Activity at Surgery Partners

In other news, CEO Jason Eric Evans sold 26,520 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $25.65, for a total transaction of $680,238.00. Following the completion of the transaction, the chief executive officer now directly owns 560,698 shares in the company, valued at $14,381,903.70. This trade represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David T. Doherty sold 6,733 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $24.02, for a total value of $161,726.66. Following the completion of the sale, the chief financial officer now owns 150,868 shares in the company, valued at $3,623,849.36. The trade was a 4.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 106,622 shares of company stock worth $2,717,860 in the last quarter. 2.30% of the stock is owned by insiders.

Institutional Trading of Surgery Partners

Institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. bought a new stake in shares of Surgery Partners during the 3rd quarter valued at about $1,469,000. King Street Capital Management L.P. acquired a new position in Surgery Partners in the third quarter valued at approximately $46,748,000. Geode Capital Management LLC boosted its holdings in shares of Surgery Partners by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,864,346 shares of the company’s stock worth $60,117,000 after buying an additional 42,897 shares in the last quarter. NFJ Investment Group LLC acquired a new stake in shares of Surgery Partners during the 3rd quarter worth approximately $1,688,000. Finally, FMR LLC increased its stake in shares of Surgery Partners by 3.1% in the 3rd quarter. FMR LLC now owns 18,311,867 shares of the company’s stock valued at $590,375,000 after acquiring an additional 546,869 shares in the last quarter.

Surgery Partners Price Performance

Shares of NASDAQ SGRY opened at $23.95 on Monday. The business’s 50 day moving average is $24.31 and its 200-day moving average is $25.59. The firm has a market cap of $3.06 billion, a P/E ratio of -49.90, a price-to-earnings-growth ratio of 19.21 and a beta of 2.73. Surgery Partners has a 1-year low of $19.50 and a 1-year high of $33.97. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.99.

Surgery Partners (NASDAQ:SGRY) last posted its earnings results on Monday, March 3rd. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Surgery Partners had a positive return on equity of 2.85% and a negative net margin of 2.03%. The company had revenue of $864.40 million during the quarter, compared to the consensus estimate of $828.09 million. Equities research analysts predict that Surgery Partners will post 0.67 earnings per share for the current 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.