Surgery Partners (NASDAQ:SGRY) Receives Outperform Rating from Royal Bank of Canada

Surgery Partners (NASDAQ:SGRY)‘s stock had its “outperform” rating reaffirmed by Royal Bank of Canada in a report issued on Tuesday,Benzinga reports. They presently have a $35.00 target price on the stock. Royal Bank of Canada’s price target suggests a potential upside of 42.65% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of Surgery Partners from $38.00 to $28.00 and set a “neutral” rating for the company in a report on Tuesday, December 3rd. Macquarie decreased their price objective on shares of Surgery Partners from $34.00 to $33.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. Finally, Bank of America began coverage on shares of Surgery Partners in a research note on Monday, December 16th. They set a “buy” rating and a $30.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $36.63.

Surgery Partners Stock Performance

SGRY stock traded up $0.15 during midday trading on Tuesday, reaching $24.54. 104,075 shares of the company’s stock traded hands, compared to its average volume of 1,330,318. The stock’s 50-day moving average is $23.99 and its 200 day moving average is $25.69. The stock has a market cap of $3.13 billion, a P/E ratio of -51.11, a PEG ratio of 19.21 and a beta of 2.73. Surgery Partners has a 52-week low of $19.50 and a 52-week 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 announced its earnings results on Monday, March 3rd. The company reported $0.39 EPS 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 for the quarter, compared to analysts’ expectations of $828.09 million. As a group, analysts anticipate that Surgery Partners will post 0.67 EPS for the current year.

Insider Transactions at Surgery Partners

In other news, CFO David T. Doherty sold 13,641 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now directly owns 108,862 shares of the company’s stock, valued at approximately $2,787,955.82. The trade was a 11.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marissa Brittenham sold 3,156 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $24.09, for a total transaction of $76,028.04. Following the completion of the transaction, the insider now owns 63,408 shares in the company, valued at $1,527,498.72. This represents a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,622 shares of company stock worth $2,717,860. 2.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Surgery Partners

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

Surgery Partners Company Profile

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.