Surgery Partners (NASDAQ:SGRY) Price Target Cut to $38.00 by Analysts at Citigroup

Surgery Partners (NASDAQ:SGRY) had its price target reduced by Citigroup from $42.00 to $38.00 in a report issued on Wednesday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

SGRY has been the subject of several other reports. StockNews.com upgraded Surgery Partners from a sell rating to a hold rating in a research report on Thursday, March 21st. Royal Bank of Canada restated an outperform rating and set a $49.00 price objective on shares of Surgery Partners in a research report on Thursday, February 29th. Cantor Fitzgerald restated an overweight rating and set a $43.00 price objective on shares of Surgery Partners in a research report on Wednesday, April 10th. Benchmark restated a buy rating and set a $50.00 price objective on shares of Surgery Partners in a research report on Wednesday, May 1st. Finally, Barclays began coverage on Surgery Partners in a research report on Wednesday, March 6th. They set an equal weight rating and a $35.00 price objective for the company. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $43.13.

Surgery Partners Price Performance

Shares of SGRY stock traded up $0.49 during midday trading on Wednesday, reaching $27.66. 131,228 shares of the company traded hands, compared to its average volume of 920,687. The firm’s 50 day simple moving average is $27.38 and its two-hundred day simple moving average is $29.79. Surgery Partners has a 1-year low of $22.05 and a 1-year high of $45.79. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.71 and a quick ratio of 1.57. The firm has a market cap of $3.52 billion, a PE ratio of -271.70, a price-to-earnings-growth ratio of 2.24 and a beta of 2.75.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Monday, February 26th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. Surgery Partners had a negative net margin of 0.43% and a positive return on equity of 3.65%. The company had revenue of $735.40 million during the quarter, compared to the consensus estimate of $741.93 million. During the same period last year, the firm earned $0.22 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities research analysts expect that Surgery Partners will post 0.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jason Eric Evans sold 4,840 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $29.71, for a total transaction of $143,796.40. Following the completion of the sale, the chief executive officer now directly owns 459,670 shares of the company’s stock, valued at approximately $13,656,795.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO David T. Doherty sold 1,020 shares of Surgery Partners stock in a transaction on Monday, February 12th. The shares were sold at an average price of $34.93, for a total transaction of $35,628.60. Following the transaction, the chief financial officer now owns 74,209 shares in the company, valued at approximately $2,592,120.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jason Eric Evans sold 4,840 shares of Surgery Partners stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $29.71, for a total transaction of $143,796.40. Following the transaction, the chief executive officer now owns 459,670 shares in the company, valued at approximately $13,656,795.70. The disclosure for this sale can be found here. In the last three months, insiders sold 14,664 shares of company stock valued at $477,225. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Surgery Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James & Associates lifted its holdings in Surgery Partners by 1.2% in the 3rd quarter. Raymond James & Associates now owns 61,188 shares of the company’s stock worth $1,790,000 after buying an additional 736 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Surgery Partners by 6.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 317,983 shares of the company’s stock valued at $9,301,000 after purchasing an additional 18,900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Surgery Partners by 15.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,506 shares of the company’s stock valued at $307,000 after purchasing an additional 1,387 shares in the last quarter. Inspire Investing LLC raised its stake in shares of Surgery Partners by 160.3% in the 3rd quarter. Inspire Investing LLC now owns 18,103 shares of the company’s stock valued at $530,000 after purchasing an additional 11,147 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in shares of Surgery Partners by 109.9% in the 3rd quarter. TD Asset Management Inc now owns 207,982 shares of the company’s stock valued at $6,083,000 after purchasing an additional 108,911 shares in the last quarter.

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.